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Mar 31, 2023
Seneca Foods Q4 2023 Earnings Report
Seneca Foods' Q4 2023 results were impacted by lower sales volumes, offset by higher selling prices, and a higher LIFO charge.
Key Takeaways
Seneca Foods reported a slight decrease in net sales for Q4 2023, with lower sales volumes mostly offset by higher selling prices. The gross margin decreased due to a higher LIFO charge.
Net sales totaled $331.1 million compared to $332.4 million for the fourth quarter of fiscal 2022.
The year-over-year decrease of $1.3 million was mainly due to lower sales volumes mostly offset by higher selling prices.
Gross margin was 5.3% as compared to 8.0% in the prior year.
The year-over-year decrease was mainly due to the $15.6 million increase in the LIFO charge.
Forward Guidance
This release contains forward-looking statements that address future events, developments, and results and do not relate strictly to historical facts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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