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Mar 31, 2021
Seneca Foods Q4 2021 Earnings Report
Seneca Foods' financial performance remained relatively stable compared to the previous year's quarter, with a slight decrease in net sales offset by an improved gross margin.
Key Takeaways
Seneca Foods reported a slight decrease in net sales for the quarter, from $307.9 million to $304.8 million. However, the gross margin percentage increased from 15.1% to 18.7%. For the full year, net sales increased by $131.8 million, driven by increased sales volume and higher selling prices.
Net sales for the quarter decreased slightly by $3.1 million compared to the prior year quarter.
Gross margin percentage increased from 15.1% to 18.7% for the quarter.
Full year net sales increased by $131.8 million compared to the prior year.
The increase in full year sales was attributed to increased sales volume and higher selling prices, predominantly due to canned vegetables.
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, which speak only as of the date the statements were made.
Challenges Ahead
- general economic and business conditions
- cost and availability of commodities and other raw materials such as vegetables, steel and packaging 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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