Seneca Foods

Seneca Foods Corp. engages in the processing and sale of packaged fruits and vegetables. The company offers canned, frozen and bottled produce, and snack chips products. It operates through the following segments: Packaging and Sale of Fruits and Vegetables, Packaging and Sale of Prepared Food Products, Sale of Snack Products, and Other Products. The company was founded by Arthur S. Wolcott in 1949 and is headquartered in Marion, NY.

Earnings data Q3 2021

Earnings data Q4 2021

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Seneca Foods Corp. engages in the processing and sale of packaged fruits and vegetables. It offers canned, frozen and bottled produce, and snack chips products. It operates through the following business segments: Canned Vegetables, Frozen Vegetables, Fruit Products, Snack Products, and Other. The company was founded by Arthur S. Wolcott in 1949 and is headquartered in Fairport, NY.

FAIRPORT, N.Y., Nov. 06, 2024 (GLOBE NEWSWIRE) --  Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended September 28, 2024.

Seneca Foods Reports Sales and Earnings for the Quarter and Six Months Ended September 28, 2024

FAIRPORT, N.Y., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended June 29, 2024.

Seneca Foods Reports Sales and Earnings for the Three Months Ended June 29, 2024

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The company's net loss shrank to $2.2 million for Q4 FY24 from $33.1 million a year earlier despite weaker sales. However, if we use the internationally dominant FIFO inventory valuation method, EBITDA declined by 22.7% to $23.1 million. While Seneca Foods doesn't look expensive at 0.7x price to tangible book value, I'm concerned about the rising net debt level.

Seneca Foods: Q4 FY24 Results Look Strong Only Using LIFO

FAIRPORT, N.Y., June 13, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2024.

Seneca Foods Reports Sales and Earnings for the Quarter and Twelve Months Ended March 31, 2024

The SENEA investment narrative has shifted to focus on its earnings power rather than its balance sheet value. However, over the next 12–18 months, I think the stock will largely be driven by Seneca's sales volume. Based on commentary from Del Monte Pacific and anecdotal evidence, I see a compelling case to be made that sales volume will stabilize into FY2025.

Seneca Foods: A Look At Sales Volume Trends

FAIRPORT, N.Y., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the third quarter and nine months ended December 30, 2023.

Seneca Foods Reports Sales and Earnings for the Quarter and Nine Months Ended December 30, 2023

Seneca Foods is a small-cap canned vegetables manufacturer that has seen little change in market cap over the past 10 years. In recent years it has undergone operational improvements, resulting in improvements in operating margins, and simultaneously it has seen a significant decrease in competition. The stock is extremely undervalued on all traditional metrics, and when adjusting for the LIFO Reserve, Seneca Foods is a Ben Graham style net-net.

Seneca Foods: An Extremely Undervalued Market Leader (And Net-Net)

JANESVILLE, Wis., Nov. 21, 2023 (GLOBE NEWSWIRE) -- As a precautionary measure, Seneca Foods Corporation is announcing a voluntary recall of mislabeled Hy-Vee Turkey gravy in glass jars that actually contains beef gravy.

Urgent – Food Recall Because of Potential Undeclared Allergen Due to Mislabel

FAIRPORT, N.Y., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended September 30, 2023.

Seneca Foods Reports Sales and Earnings for the Quarter and Six Months Ended September 30, 2023

FAIRPORT, N.Y., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) announced today that it has purchased assets related to the Green Giant U.S. shelf-stable business from B&G Foods.

Seneca Foods Announces Purchase of Assets Related to the Green Giant U.S. Shelf-Stable Business

FAIRPORT, N.Y., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended July 1, 2023.

Seneca Foods Reports Sales and Earnings for the Three Months Ended July 1, 2023

Seneca Foods' stock has declined 40%+ ytd, and is trading at a cheap multiple and at a significant discount to its NCAVPS. This opportunity exists because Seneca was recently removed from the Russell 2000 index which caused forced selling. Despite the stock's decline, Seneca's financial results have remained solid, with revenue and adjusted earnings continuing to grow.

Seneca Foods: In Deep Value Territory

FAIRPORT, N.Y., June 13, 2023 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2023.

Seneca Foods Reports Sales and Earnings for the Quarter and Twelve Months Ended March 31, 2023

FAIRPORT, N.Y., Feb. 09, 2023 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced that it will appoint the current Vice President of Finance, Michael Wolcott, to Senior Vice President of Finance and Chief Financial Officer (“CFO”) effective April 1, 2023. As CFO, Mr. Wolcott will oversee the Company's finance organization and be responsible for all financial and accounting matters, including tax, treasury, internal audit, and investor relations. Mr. Wolcott will also serve on the Company's executive management team and will be involved in the Company's corporate strategy and business development, including mergers & acquisitions, and capital transactions. Mr. Wolcott will report to the President and Chief Executive Officer, Paul Palmby. Mr. Wolcott will succeed the Company's current CFO, Tim Benjamin, who has announced his retirement as CFO effective March 31, 2023. Mr. Benjamin will remain with the Company until June 30, 2023, and provide transition assistance as needed.

Seneca Foods Announces Michael Wolcott as Chief Financial Officer

FAIRPORT, N.Y., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the third quarter and nine months ended December 31, 2022.

Seneca Foods Reports Sales and Earnings for the Nine Months Ended December 31, 2022

FAIRPORT, N.Y., Nov. 09, 2022 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended October 1, 2022.

Seneca Foods Reports Sales and Earnings for the Six Months Ended October 1, 2022

FAIRPORT, N.Y., Aug. 11, 2022 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended July 2, 2022.

Seneca Foods Reports Sales and Earnings for the Three Months Ended July 2, 2022

While the firm continues to outperform my expectations, several headwinds appear to be emerging in the data. As the cost of labor and commodities remains elevated, profitability is likely to become a bigger issue over the next months than it is today.

Seneca Foods Is Approaching An Inflection Point

MARION, N.Y., June 10, 2022 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2022.

Seneca Foods Reports Sales and Earnings for the Quarter and Twelve Months Ended March 31, 2022

Since my previous article on SENEA, the stock is up ~13.5% vs a loss of ~5.6% for the S&P 500. I believe SENEA continues to be undervalued from an absolute perspective and is fairly priced for a 9-10% annual long-term return, excluding buybacks.

Seneca Foods Is Still Attractively Priced

MARION, N.Y., Feb. 10, 2022 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the third quarter and nine months ended January 1, 2022.

Seneca Foods Reports Sales and Earnings for the Nine Months Ended January 1, 2022

SENEA has a resilient business model and the company benefited from the COVID-19 pandemic. The stock is definitely cheap, trading below book value and at a ~4x TTM earnings. SENEA is currently trading at a 37% discount relative to my intrinsic value estimate.

Seneca Foods: Bargain Valuation In A Stable Industry

MARION, N.Y., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended October 2, 2021.

Seneca Foods Reports Sales and Earnings for the Six Months Ended October 2, 2021

MARION, N.Y., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended July 3, 2021.

News for Seneca Foods Stock (SENEB)