Seneca Foods Q3 net sales fall 8% to $445.6M; gross margin 10.1% vs 16%

Seneca Foods Corp

2022-Q3 EPS reported $4.98 revenue$1,052,891,000

Net sales for Q3 FY2022: $445.6M, down from $484.4M in Q3 FY2021.
Gross margin percentage declined to 10.1% from 16.0% year over year.
Nine-month net sales $1,052.9M vs $1,162.9M; gross margin 11.5% vs 15.1%.
CEO Paul Palmby attributes results to large LIFO charge from higher input costs and prior-year pantry loading.
Management focused on mitigating supply chain, labor, and inflation impacts.

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