Seneca Foods Q3 net sales rise to $473.3M; gross margin improves to 11.4%

Seneca Foods Corp

2022-Q3 EPS reported $5.31 revenue$1,178,289,000

Q3 net sales $473.3M, up 6.2% YoY from $445.6M on higher prices/improved mix.
Q3 gross margin 11.4% vs 10.1% YoY; increase driven by pricing and favorable sales mix.
Nine-month net sales $1,178.3M vs $1,052.9M YoY; increase of $125.4M from higher prices partly offset by lower volumes.
Nine-month gross margin 10.0% vs 11.5% YoY; decline primarily due to $48.7M increase in LIFO charge.
CEO cites persistent inflationary pressures, large non-cash LIFO charge, and supply chain challenges.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seneca Foods Corp reported the third quarter ended December 31, 2022 results: revenue $473.3 million.

Period: the third quarter ended December 31, 2022
Revenue: $473.3 million
Result: reported results

Exact text from the filing

Net sales for the third quarter of fiscal 2023 totaled $473.3 million compared to $445.6 million for the third quarter of fiscal 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seneca Foods Corp reported the nine months ended December 31, 2022 results: revenue $1,178.3 million.

Period: the nine months ended December 31, 2022
Revenue: $1,178.3 million
Result: reported results

Exact text from the filing

Net sales for the nine months ended December 31, 2022 totaled $1,178.3 million compared to $1,052.9 million for the nine months ended January 1, 2022.

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Source: SEC EDGAR

accession 0001437749-23-002791

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