Overview

* Seneca Foods ( SENEB ) fiscal Q1 net sales fall to $297.5 mln, down from $304.7 mln

* Adjusted net earnings decline due to large LIFO credit impact

* Company expects to recoup sales disruptions from key co-pack customer

Outlook

* Seneca Foods ( SENEB ) expects to recoup sales volumes from key co-pack customer

* Company optimistic about normalized inventory levels due to better growing season

* Seneca Foods ( SENEB ) anticipates improved costs from favorable weather conditions

Result Drivers

* SALES VOLUME DECLINE - Lower sales volumes contributed to a $7.2 mln decrease in net sales, partially offset by higher selling prices and product mix

* CO-PACK CUSTOMER DISRUPTION - Sales disruptions from a key co-pack customer led to reduced volumes, expected to be recouped under contractual relationship

* HIGH-COST INVENTORY - High-cost 2024 inventory due to unfavorable weather impacted results, but progress made in selling through this inventory

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Sales $297.46

mln

Q1 EPS $2.14

Q1 Basic $2.16

EPS

Q1 $23.22

Operatin mln

g Income

Q1 $19.71

Pretax mln

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)