Q1 Sales Down At Seneca Foods, But Net Earnings Rise

Fiscal year first-quarter sales at Seneca Foods Corporation were down slightly, with lower sales volume cited as the main reason for the decrease.

For the three months ended June 28, net sales were $297.5 million, down from sales of $304.7 million in the comparable quarter the previous year. Company officials said the year-over-year decrease of $7.2 million was driven by lower sales volumes, partially offset by higher selling prices and the impact of product mix.

Net earnings in the quarter were $14.9 million, or $2.14 per common share, an increase over net earnings of $12.7 million, or $1.80 per common share.

“Despite some headwinds in the first quarter, including high-cost 2024 inventory as a result of unfavorable weather last summer, we are very pleased with our results and have made good progress selling through the 2024 pack,” said Paul Palmby, president and CEO of Seneca Foods Corporation. “We also experienced sales disruptions from a key co-pack customer that resulted in lower volumes in the quarter, which we expect to recoup going forward under this contractual relationship. The 2025 pack is well underway, and we are optimistic that a better growing season will lead to more normalized inventory levels and costs.”