Seneca Foods (SENE) investor relations material

Executive summary

• Net sales for the quarter ended December 27, 2025, were $508.3 million, up 1.1% year-over-year, driven by higher selling prices and product mix, partially offset by lower sales volume.

• Net earnings for the quarter were $44.8 million, a significant increase from $14.7 million in the prior year quarter.

• Gross margin improved to 16.4% from 9.8% year-over-year, aided by a LIFO credit and lower per unit costs.

• Operating income rose to $59.97 million from $25.66 million in the prior year quarter.

Financial highlights

• Nine-month net sales reached $1.27 billion, up 2.7% year-over-year, with both higher sales volume and improved pricing.

• Net earnings for the nine months were $89.4 million, more than double the $40.6 million from the prior year period.

• Adjusted net earnings (FIFO basis) for the nine months were $72.7 million, up from $58.0 million year-over-year.

• EBITDA for the nine months was $167.2 million, with FIFO EBITDA at $145.1 million.

• Interest expense declined due to lower average borrowings and lower rates.

Outlook and guidance

• Improved crop yields and less challenging growing conditions contributed to a larger and lower-cost seasonal pack for fiscal 2026.

• Management expects existing operations and liquidity sources to satisfy cash requirements for at least the next twelve months.