Jun. 12, 2025 |
FAIRPORT, N.Y. June 12, 2025 -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2025.
Executive Summary (vs. year-ago, year-to-date results):
- Net sales for the twelve months ended March 31, 2025 totaled $1,578.9 million compared to $1,458.6 million for the twelve months ended March 31, 2024. The year-over-year increase of $120.3 million was driven by higher sales volumes, complemented by higher selling prices and favorable mix.
- Gross margin as a percentage of net sales is 9.5% for the twelve months ended March 31, 2025, as compared to 12.9% for the twelve months ended March 31, 2024.
“We completed a strong fiscal 2025 despite various challenges posed by a rainy growing season, increasing costs, and fluctuating tariffs,” stated Paul Palmby, President and Chief Executive Officer of Seneca Foods. “Increased sales volumes and excellent operating cash flow led to a reduction in net debt of $297M year-over-year. However, in the short-term we continue to see the impact of our high-cost 2024 pack weigh on margins.”