Seneca Foods (SENE) Q2 2026 earnings summary

Executive summary

• Net sales for the quarter ended September 27, 2025, increased 8.1% year-over-year to $460.0 million, driven primarily by higher sales volume across most product categories.

• Net earnings for the quarter more than doubled to $29.7 million from $13.3 million in the prior year, with diluted EPS rising to $4.29 from $1.90.

• Gross margin improved to 13.4% from 10.1% year-over-year, mainly due to a LIFO credit that reduced cost of products sold.

• Operating income for the quarter was $41.5 million, up from $24.7 million a year ago.

Financial highlights

• Six-month net sales rose 3.7% year-over-year to $757.5 million, with net earnings up 71.8% to $44.6 million.

• Six-month gross margin increased to 13.7% from 11.7% in the prior year.

• Interest expense for the quarter decreased to $4.7 million from $9.0 million, reflecting lower average borrowings and interest rates.

• Adjusted net earnings (FIFO basis) for the quarter were $24.0 million, compared to $24.6 million last year.

• EBITDA for the quarter was $55.7 million, with FIFO EBITDA at $48.0 million.

Outlook and guidance

• Management expects improved crop yields and less challenging growing conditions to result in a larger and lower-cost seasonal pack for fiscal 2026.

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