Seneca Foods FY22 net sales fall 5.6% to $1.385B; EPS drops to $5.79 from $13.72

Seneca Foods Corp

Net sales $1,385.3M vs $1,467.6M prior year; $71.9M decrease from divestiture of prepared foods.
Gross margin 10.7% of sales, down from 15.8% due to inflation and LIFO impacts.
Net earnings $51.0M ($5.79 diluted EPS) vs $126.1M ($13.72) year ago.
Adjusted net earnings $84.6M ($9.60 diluted EPS) vs $95.4M ($10.38) prior year.
Q4 net sales up 9% to $332.4M but net earnings fell to $6.6M from $14.8M.

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