From GlobeNewswire: 2025-02-06 16:15:00

Seneca Foods Corporation announced financial results for the third quarter and nine months ended December 28, 2024. Net sales for the nine months totaled $1,233.0 million, up $82.4 million from the previous year. Gross margin as a percentage of net sales decreased to 10.9%. The third quarter saw sales of $502.9 million, a $58.4 million increase from the previous year, with a gross margin of 9.8%.

President and CEO Paul Palmby attributed the growth to a 16% increase in unit volume sales, despite lower margins due to poor packing season caused by heavy rains. Seneca Foods is a leading provider of packaged fruits and vegetables sourced from American farms, with products sold under brands like Libby’s®, Green Giant®, and Aunt Nellie’s®. Adjusted net earnings for the company were reported at $22,914 for the quarter and $57,994 for the nine months.

Seneca Foods also provided reconciliation of reported net earnings to EBITDA and FIFO EBITDA, with net earnings for the quarter at $14,659 and $40,623 for the nine months. Looking forward, the company highlighted risks including rising costs, raw material availability, labor shortages, climate impact, and competition. They do not guarantee forward-looking information and aim to comply with regulations and disclose material information as required. For additional information, contact CFO Michael Wolcott at 585-495-4100.



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