earnings
confidence high
sentiment neutral
materiality 0.50
Seneca Foods Q2 net sales $372.3M, down 4.6% YoY; gross margin 11.5% vs 12.5%
Seneca Foods Corp
2022-Q2 EPS reported
$2.86
revenue$607,298,000
- Q2 net sales $372.3M (down from $390.3M YoY); six-month net sales $607.3M (down from $678.5M).
- Q2 gross margin 11.5% vs 12.5% YoY; six-month margin 12.6% vs 14.4%.
- CEO cites COVID pantry loading in prior year and Truitt divestiture as headwinds to comparables.
- Large LIFO charge from higher input costs impacted reported earnings, per CEO.
- Year-to-date earnings described as 'strong' despite margin compression.