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Dec 26, 2020
Seneca Foods Q3 2021 Earnings Report
Seneca Foods' financial performance improved due to increased net sales and gross margin.
Key Takeaways
Seneca Foods reported a 23.3% increase in net sales, reaching $484.4 million. The gross margin percentage also increased from 13.3% to 16.0% compared to the prior year due to higher selling prices and higher sales volume.
Net sales increased by 23.3% to $484.4 million.
Gross margin percentage increased from 13.3% to 16.0%.
Results reflected gain on sale of prepared foods business.
Strong sales in core business continued.
Forward Guidance
Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. Factors include economic conditions, commodity costs, weather, financing, COVID-19 impacts, and regulations.
Challenges Ahead
- General economic and business conditions.
- Cost and availability of commodities and other raw materials.
- Transportation costs.
- Climate and weather affecting growing conditions and crop yields.
- Availability of financing.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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