Seneca Foods (SENE) Q1 2027 earnings summary

Executive summary

• Net sales for the quarter ended June 27, 2026, increased 36.2% year-over-year to $405.2 million, driven by higher sales volumes and improved pricing and product mix.

• Net earnings rose to $19.5 million from $14.9 million in the prior year quarter, with diluted EPS of $2.85 compared to $2.14.

• Operating income reached $26.2 million, up from $23.2 million year-over-year.

Financial highlights

• Gross margin declined to 11.8% from 14.1% year-over-year, mainly due to a lower LIFO credit in the current quarter.

• EBITDA was $41.0 million, with FIFO EBITDA at $38.0 million, up from $25.2 million in the prior year.

• Cash provided by operating activities was $109.1 million, more than double the $53.7 million in the prior year quarter.

• Capital expenditures totaled $17.2 million for the quarter.

Outlook and guidance

• Management expects continued focus on working capital needs as the seasonal pack progresses and inventory levels are replenished.

• The company believes existing operations and liquidity sources will satisfy cash requirements for at least the next twelve months.