Seneca Foods Reports Sales and Earnings for the Quarter and Six Months Ended September 27, 2025
Seneca Foods (NASDAQ: SENEA) reported results for the quarter and six months ended September 27, 2025. For the six months, net sales were $757.5M versus $730.2M a year earlier, an increase of $27.3M driven by higher volumes and selling prices. Gross margin for the six months was 13.7% versus 11.7% year-ago. For the second quarter, net sales were $460.0M versus $425.5M, with unit volumes up 10.2% and net sales up 8.1%. Quarterly gross margin was 13.4% versus 10.1% a year earlier. Management noted near-budget harvests and continued sell-through of higher-cost 2024 inventory affecting FIFO gross margin.
Seneca Foods (NASDAQ: SENEA) ha riportato i risultati per il trimestre e per i sei mesi chiusi il 27 settembre 2025. Per i sei mesi, le vendite nette sono state $757.5M rispetto a $730.2M dell’anno precedente, con un aumento di $27.3M trainato da volumi più elevati e da prezzi di vendita più alti. Il margine lordo per i sei mesi è stato del 13.7% rispetto al 11.7% dell’anno precedente. Per il secondo trimestre, le vendite nette sono state $460.0M rispetto a $425.5M, con volumi unitari in aumento del 10.2% e vendite nette in aumento dell’8.1%. Il margine lordo trimestrale è stato del 13.4% rispetto al 10.1% dell’anno precedente. La direzione ha rilevato raccolti vicini al budget e la continua vendita di inventario 2024 a costo più alto che influisce sul margine lordo FIFO.
Seneca Foods (NASDAQ: SENEA) informó los resultados del trimestre y de los seis meses terminados el 27 de septiembre de 2025. Para los seis meses, las ventas netas fueron de $757.5M frente a $730.2M hace un año, un aumento de $27.3M impulsado por mayores volúmenes y precios de venta. El margen bruto para los seis meses fue del 13.7% frente al 11.7% del año anterior. Para el segundo trimestre, las ventas netas fueron de $460.0M frente a $425.5M, con volúmenes unitarios en un 10.2% y ventas netas en un 8.1% aumento. El margen bruto trimestral fue del 13.4% frente al 10.1% del año anterior. La dirección señaló cosechas cercanas al presupuesto y la continuidad de la venta de inventario de costo más alto de 2024 que afecta el margen bruto FIFO.
Seneca Foods (NASDAQ: SENEA)가 2025년 9월 27일 종료된 분기 및 6개월 실적을 발표했습니다. 6개월 동안 순매출은 $757.5M으로 작년 같은 기간의 $730.2M 대비 증가했으며, 이는 $27.3M의 증가로 물량 증가와 판매가 인상에 기인합니다. 6개월 총이익률은 13.7%로 작년의 11.7%에 비해 상승했습니다. 2분기 순매출은 $460.0M으로 작년 분기의 $425.5M 대비 증가했고 유닛 물량은 10.2%, 순매출은 8.1% 증가했습니다. 분기 총이익률은 13.4%로 작년 동기의 10.1% 대비 높았습니다. 경영진은 예산에 근접한 수확과 2024년 고비용 재고의 지속적인 판매가 FIFO 총이익률에 영향을 미치고 있다고 언급했습니다.
Seneca Foods (NASDAQ : SENEA) a publié les résultats pour le trimestre et les six premiers mois terminés le 27 septembre 2025. Pour les six mois, les ventes nettes ont été de $757.5M contre $730.2M l’année dernière, soit une augmentation de $27.3M tirée par des volumes plus élevés et des prix de vente plus élevés. La marge brute pour les six mois était de 13.7% contre 11.7% l’année précédente. Pour le deuxième trimestre, les ventes nettes ont été de $460.0M contre $425.5M, avec des volumes unitaires en hausse de 10.2% et des ventes nettes en hausse de 8.1%. La marge brute trimestrielle était de 13.4% contre 10.1% il y a un an. La direction a noté des récoltes proches du budget et la poursuite de la vente d’un stock coûteux de 2024, ce qui affecte la marge brute FIFO.
Seneca Foods (NASDAQ: SENEA) berichtete über die Ergebnisse für das Quartal und das bis zum 27. September 2025 laufende Halbjahr. Für das Halbjahr lagen die Nettoumsätze bei $757.5M gegenüber $730.2M im Vorjahr, ein Anstieg um $27.3M bedingt durch höhere Volumen und Verkaufspreise. Die Bruttomarge für das Halbjahr betrug 13.7% gegenüber 11.7% im Vorjahr. Für das zweite Quartal lagen die Nettoumsätze bei $460.0M gegenüber $425.5M, bei einem Anstieg der Stückvolumen um 10.2% und der Nettoumsätze um 8.1%. Die Quartalsbruttomarge betrug 13.4% gegenüber 10.1% vor einem Jahr. Das Management wies auf erntebedingte Ergebnisse nahe dem Budget hin und darauf, dass der Verkauf von 2024er Inventar mit höheren Kosten die FIFO-Bruttomarge beeinflusst.
Seneca Foods (NASDAQ: SENEA) أعلنت عن النتائج للربع والفترة المحصلة حتى 27 سبتمبر 2025. بالنسبة لمدة الستة أشهر، بلغت المبيعات الصافية $757.5M مقابل $730.2M قبل عام، بارتفاع قدره $27.3M نتيجة لارتفاع الأحجام وأسعار البيع. الهامش الإجمالي للفترة نصف السنوية كان 13.7% مقابل 11.7% في العام السابق. بالنسبة للربع الثاني، بلغت المبيعات الصافية $460.0M مقابل $425.5M، مع ارتفاع وحدات البيع بنسبة 10.2% والمبيعات الصافية بنسبة 8.1%. بلغ الهامش الإجمالي للربع 13.4% مقابل 10.1% قبل عام. أشارت الإدارة إلى محاصيل قريبة من الميزانية واستمرار بيع مخزون 2024 بتكلفة أعلى يؤثر على الهامش الإجمالي بنهج FIFO.
- Q2 unit volumes +10.2% year-over-year
- Q2 net sales $460.0M, up 8.1% year-over-year
- Q2 gross margin improved to 13.4% (from 10.1%)
- FIFO gross margin slightly lower than last year due to 2024 inventory
- Six-month net sales rise of $27.3M (no guidance change disclosed)
Insights
Seneca shows higher sales and improved gross margins year‑over‑year; unit volumes and near‑budget harvest support performance.
Net sales for the six months were
The company cites a near‑budget harvest and more normalized costs and inventory supporting demand, while FIFO gross margin remains affected by sell‑through of higher‑cost 2024 inventory; those facts create a dependency on continued inventory normalization to sustain margins. Monitor upcoming quarterly updates and reported margins over the next
FAIRPORT, N.Y., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended September 27, 2025.
Executive Summary (vs. year-ago, year-to-date results):
- Net sales for the six months ended September 27, 2025 totaled
$757.5 million compared to$730.2 million for the six months ended September 28, 2024. The year-over-year increase of$27.3 million was driven by higher sales volumes and the impact of selling prices and product mix. - Gross margin as a percentage of net sales is
13.7% for the six months ended September 27, 2025, as compared to11.7% for the six months ended September 28, 2024.
“We are very pleased with our unit volumes and net sales for the quarter, up
Executive Summary (vs. year-ago, second quarter results):
- Net sales for the second quarter of fiscal 2026 totaled
$460.0 million compared to$425.5 million for the second quarter of fiscal 2025. The year-over-year increase of$34.5 million was driven by higher sales volumes and the impact of selling prices and product mix. - Gross margin as a percentage of net sales is
13.4% for the three months ended September 27, 2025, as compared to10.1% for the three months ended September 28, 2024.
About Seneca Foods Corporation
Seneca Foods is one of North America’s leading providers of packaged fruits and vegetables, with facilities located throughout the United States. Its high quality products are primarily sourced from more than 1,100 American farms and are distributed to approximately 55 countries. Seneca holds a large share of the market for retail private label, food service, restaurant chains, international, contracting packaging, industrial, chips and cherry products. Products are also sold under the highly regarded brands of Libby’s®, Green Giant®, Aunt Nellie’s®, Green Valley®, CherryMan®, READ®, and Seneca labels, including Seneca snack chips. Seneca’s common stock is traded on the Nasdaq Global Select Market under the symbols “SENEA” and “SENEB”. SENEA is included in the S&P SmallCap 600, Russell 2000 and Russell 3000 indices.
Non-GAAP Financial Measures
Adjusted net earnings excludes the non-cash charges related to the last-in, first-out (LIFO) inventory valuation method, net of applicable income taxes. The Company believes this non-GAAP financial measure provides for a better comparison of year over year operating performance. The Company does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with GAAP. Set forth below is a reconciliation of reported earnings before income taxes to adjusted net earnings (in thousands).
| Three Months Ended | Six Months Ended | ||||||||||||||
| September 27, | September 28, | September 27, | September 28, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Earnings before income taxes, as reported | $ | 38,694 | $ | 17,068 | $ | 58,405 | $ | 33,569 | |||||||
| LIFO (credit) charge | (7,674 | ) | 14,977 | (19,472 | ) | 12,059 | |||||||||
| Adjusted earnings before income taxes | 31,020 | 32,045 | 38,933 | 45,628 | |||||||||||
| Income taxes | 7,052 | 7,434 | 8,952 | 10,559 | |||||||||||
| Adjusted net earnings | $ | 23,968 | $ | 24,611 | $ | 29,981 | $ | 35,069 | |||||||
Set forth below is a reconciliation of reported net earnings to EBITDA and FIFO EBITDA (earnings before interest, income taxes, depreciation, amortization and non-cash charges related to the LIFO inventory valuation method). The Company does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with GAAP (in thousands).
| Three Months Ended | Six Months Ended | ||||||||||||||
| September 27, | September 28, | September 27, | September 28, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net earnings | $ | 29,739 | $ | 13,303 | $ | 44,624 | $ | 25,964 | |||||||
| Income taxes | 8,955 | 3,765 | 13,781 | 7,605 | |||||||||||
| Interest expense, net | 4,684 | 9,013 | 10,094 | 19,358 | |||||||||||
| Depreciation and amortization | 12,423 | 12,516 | 24,445 | 24,962 | |||||||||||
| Interest amortization | (148 | ) | (116 | ) | (302 | ) | (231 | ) | |||||||
| EBITDA | 55,653 | 38,481 | 92,642 | 77,658 | |||||||||||
| LIFO (credit) charge | (7,674 | ) | 14,977 | (19,472 | ) | 12,059 | |||||||||
| FIFO EBITDA | $ | 47,979 | $ | 53,458 | $ | 73,170 | $ | 89,717 | |||||||
Forward-Looking Information
This release contains “forward-looking statements” as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments, and results and do not relate strictly to historical facts. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and may contain the words "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "seeks," "should," "likely," "targets," "may," "can” and variations thereof and similar expressions. Forward-looking statements are subject to known and unknown risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed. We believe important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the following:
- the effects of rising costs and availability of raw fruit and vegetables, steel, ingredients, packaging, other raw materials, distribution and labor;
- crude oil prices and their impact on distribution, packaging and energy costs;
- the impact of tariffs and other governmental trade restrictions;
- an overall labor shortage, ability to retain a sufficient seasonal workforce, lack of skilled labor, labor inflation or increased turnover impacting our ability to recruit and retain employees;
- climate and weather affecting growing conditions and crop yields;
- our ability to successfully implement sales price increases and cost saving measures to offset cost increases;
- the loss of significant customers or a substantial reduction in orders from these customers;
- effectiveness of our marketing and trade promotion programs;
- competition, changes in consumer preferences, demand for our products and local economic and market conditions;
- the impact of a pandemic on our business, suppliers, customers, consumers and employees;
- unanticipated expenses, including, without limitation, litigation or legal settlement expenses;
- product liability claims;
- the anticipated needs for, and the availability of, cash;
- the availability of financing;
- leverage and the ability to service and reduce debt;
- foreign currency exchange and interest rate fluctuations;
- the risks associated with the expansion of our business;
- the ability to successfully integrate acquisitions into our operations;
- our ability to protect information systems against, or effectively respond to, a cybersecurity incident or other disruption;
- other factors that affect the food industry generally, including:
- recalls if products become adulterated or misbranded, liability if product consumption causes injury, ingredient disclosure and labeling laws and regulations and the possibility that consumers could lose confidence in the safety and quality of certain food products;
- competitors’ pricing practices and promotional spending levels;
- fluctuations in the level of our customers’ inventories and credit and other business risks related to our customers operating in a challenging economic and competitive environment; and
- the risks associated with third-party suppliers, including the risk that any failure by one or more of our third-party suppliers to comply with food safety or other laws and regulations may disrupt our supply of raw materials or certain finished goods products or injure our reputation; and
- changes in, or the failure or inability to comply with, U.S., foreign and local governmental regulations, including health, environmental, and safety regulations.
Except for ongoing obligations to disclose material information as required by the federal securities laws, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of the filing of this report or to reflect the occurrence of unanticipated events.
Contact:
Michael Wolcott, Chief Financial Officer
585-495-4100
| Seneca Foods Corporation | |||||||||||||||
| Unaudited Selected Financial Data | |||||||||||||||
| For the Periods Ended September 27, 2025 and September 28, 2024 | |||||||||||||||
| (In thousands of dollars, except share data) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| September 27, | September 28, | September 27, | September 28, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net sales | $ | 460,022 | $ | 425,465 | $ | 757,480 | $ | 730,192 | |||||||
| Operating income (note 1) | 41,472 | 24,679 | 64,687 | 50,122 | |||||||||||
| Other non-operating income | (1,906 | ) | (1,402 | ) | (3,812 | ) | (2,805 | ) | |||||||
| Interest expense, net | 4,684 | 9,013 | 10,094 | 19,358 | |||||||||||
| Earnings before income taxes | $ | 38,694 | $ | 17,068 | $ | 58,405 | $ | 33,569 | |||||||
| Income taxes | 8,955 | 3,765 | 13,781 | 7,605 | |||||||||||
| Net earnings | $ | 29,739 | $ | 13,303 | $ | 44,624 | $ | 25,964 | |||||||
| Basic earnings per common share (note 2) | $ | 4.33 | $ | 1.92 | $ | 6.49 | $ | 3.74 | |||||||
| Diluted earnings per common share | $ | 4.29 | $ | 1.90 | $ | 6.43 | $ | 3.70 | |||||||
| Note 1: | The effect of the LIFO inventory valuation method on the second quarter pre-tax results increased operating income by | |
| Note 2: | The Company used the “two-class” method for basic earnings per share by dividing the earning attributable to common shareholders by the weighted average of common shares outstanding during the period. | |
FAQ
What were Seneca Foods (SENEA) net sales for the six months ended September 27, 2025?
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What drove Seneca Foods' sales increase in Q2 2026 (SENEA)?
Did Seneca Foods report volume growth for the quarter (SENEA)?
Is Seneca Foods' FIFO gross margin improving for fiscal 2026?
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