Seneca Foods GAAP EPS of $3.70, revenue of $730.2M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 07 2024
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Source: SeekingAlpha
Financial Performance: Seneca Foods reported a GAAP EPS of $3.70 for the first half of the year.
Revenue Growth: The company achieved revenue of $730.2 million, reflecting a 3.4% increase year-over-year.
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Analyst Views on SENEB
About SENEB
Seneca Foods Corporation is a provider of packaged fruits and vegetables, with over 26 facilities in eight states in support of its main operations. The Company operates its business through two segments: Vegetable and Fruit/Snack. The Other category comprises non-food operations, including revenue derived from the sale of cans, ends, seed, and outside revenue from the Company's trucking and aircraft operations, and certain corporate items. The Company’s product offerings include canned, frozen and jarred produce, and snack chips. Its fruits and vegetables are sold nationwide by major grocery outlets, including supermarkets, mass merchandisers, limited assortment stores, club stores and dollar stores. The Company owns or licenses, including Seneca, Libby’s, Green Giant, Aunt Nellie’s, CherryMan, Green Valley and READ. It also sells products to foodservice distributors, restaurant chains, industrial markets, other food processors, and export customers in approximately 55 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Seneca Foods (SENE.A) Stock Rises 186% Over Five Years Despite EPS Decline
- Stock Performance: Seneca Foods' stock has risen 186% over the past five years, despite an 8.4% decline in the last 30 days, indicating a disparity between short-term volatility and long-term growth.
- Profitability Analysis: Despite strong stock performance, Seneca Foods' earnings per share (EPS) have declined by 1.0% annually, suggesting that profitability has not kept pace with stock price growth, which may affect investor confidence.
- Revenue Growth: The company's annual compound revenue growth rate of only 2.3% over five years contrasts sharply with the significant stock price increase, hinting at potential market overestimation of future growth.
- Shareholder Returns: Seneca Foods has delivered a total shareholder return of 40% in the last twelve months, exceeding the annualized return of 23% over the past five years, indicating potential recent performance improvement.
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Seneca Foods Reports Sales and Earnings for the Quarter and Nine Months Ended December 28, 2024
Financial Performance Overview: Seneca Foods Corporation reported a net sales increase to $1.233 billion for the nine months ending December 28, 2024, up from $1.151 billion in the previous year, driven by higher sales volumes despite a decline in gross margin percentage due to adverse weather conditions affecting production.
Third Quarter Results: For the third quarter of fiscal 2025, net sales rose to $502.9 million compared to $444.5 million in the same period last year, with a noted decrease in gross margin percentage attributed to lower selling prices and ongoing challenges in the supply chain.
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