---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-017257"
form_type: "8-K"
ticker: "SENEB"
cik: "0000088948"
company_name: "Seneca Foods Corp"
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T02:31:04.154949+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Seneca Foods reports record FY2023 sales of $1.51B; gross margin falls to 9.0% on $100M LIFO charge

## Summary
- Full-year net sales $1,509.4M (+$124.1M vs FY2022) driven by higher selling prices, partially offset by lower volumes.
- Gross margin declined to 9.0% from 10.7% due to a $64.2M increase in the LIFO charge; Q4 margin 5.3% vs 8.0%.
- CEO cites unprecedented non-cash LIFO charge of $100M; company achieved record FIFO EBITDA despite cost pressures.
- Fourth-quarter net sales $331.1M, essentially flat vs $332.4M prior year; lower volumes mostly offset by higher prices.
- Inventory levels replenished entering fiscal 2024; management positioned to meet customer demand.

## SEC filing metadata
- accession: 0001437749-23-017257
- form_type: 8-K
- ticker: SENEB
- cik: 0000088948
- company_name: Seneca Foods Corp
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/88948/000143774923017257/0001437749-23-017257-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/88948/000143774923017257/senea20230605_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-017257
- JSON: https://secwatch.observer/filing/0001437749-23-017257.json
- Plain text: https://secwatch.observer/filing/0001437749-23-017257.txt

## Key facts
- Earnings Releases
  Seneca Foods Corp reported the fourth quarter ended March 31, 2023 results: revenue $331.1 million.
  - Period: the fourth quarter ended March 31, 2023
  - Revenue: $331.1 million
  - Result: reported results
  source text: pandemic, and are in position to serve our customers’ needs.” Executive Summary (vs. year-ago, fourth quarter results): ■ Net sales for the fourth quarter of fiscal 2023 totaled $331.1 million compared to $332.4 million for the fourth quarter of fiscal 2022. The year-over-year decrease of $1.3 million was mainly due to lower sales volumes mostly offset by higher
  evidence_url: https://www.sec.gov/Archives/edgar/data/88948/000143774923017257/0001437749-23-017257-index.htm
- Earnings Releases
  Seneca Foods Corp reported the twelve months ended March 31, 2023 results: revenue $1,509.4 million.
  - Period: the twelve months ended March 31, 2023
  - Revenue: $1,509.4 million
  - Result: reported results
  source text: the fourth quarter and twelve months ended March 31, 2023. Executive Summary (vs. year-ago, year-to-date results): ■ Net sales for the twelve months ended March 31, 2023 totaled $1,509.4 million compared to $1,385.3 million for the twelve months ended March 31, 2022. The year-over-year increase of $124.1 million was mainly due to higher selling prices partially offset by
  evidence_url: https://www.sec.gov/Archives/edgar/data/88948/000143774923017257/0001437749-23-017257-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.