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Sep 26, 2020
Seneca Foods Q2 2021 Earnings Report
Reported increased sales and improved gross margin percentage due to higher selling prices and sales volume.
Key Takeaways
Seneca Foods reported a 5.5% increase in net sales to $390.3 million and an improved gross margin percentage from 6.5% to 12.5% compared to the prior year's second quarter. Strong demand driven by anticipated consumer pantry loading due to COVID-19 helped drive sales and net income.
Net sales increased 5.5% to $390.3 million.
Gross margin percentage increased from 6.5% to 12.5% compared to the prior year.
Strong demand driven by customer's anticipated consumer pantry loading due to COVID-19 continues to help drive sales and net income.
Second quarter showed solid results when compared to the prior year.
Forward Guidance
The information contained in this release contains, or may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned not to place undue reliance on such statements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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