What’s New at Seneca Foods?
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Feb. 10, 2022 | Earnings Reports
“The Company delivered a solid performance in the third quarter of fiscal 2022 despite a large LIFO charge to the quarter and year to date being caused by higher input costs. Total net sales are down compared to prior year, which was expected given the 2020 COVID-19 related pantry loading and the Truitt divesture that happened during fiscal 2021. We remain focused on mitigating supply chain, labor and inflation related impacts.” - Paul Palmby, CEO
Nov. 12, 2021 | Corporate
MARION, N.Y. November 12, 2021 -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced the Board of Directors (the “Board”) of Seneca Foods Corporation (the “Company”) has appointed Kraig H. Kayser as a member of the Board effective November 10, 2021
Nov. 12, 2021 | Earnings Reports
“We are pleased with the Company’s performance in the second quarter. A comparative perspective to the prior year remains a challenge given the 2020 COVID-19 pantry loading and the Truitt divestiture that happened in fiscal year 2021. However, as expected, our net sales performance has remained on level to pre-pandemic levels. Quarterly and year-to-date reported earnings were strong even considering a large LIFO charge that is being driven by higher input costs. ” - Paul Palmby, CEO
Aug. 11, 2021 | Earnings Reports
"Overall, the first quarter of 2022 was as we expected. A comparison to prior year is difficult as COVID-driven panic buying commenced last year. However, for the first quarter of 2022 we achieved very respectable earnings per common share of $1.56. With the exception of last year, this is our highest first quarter earnings per common share in many years.” - Paul Palmby, CEO
Jun. 11, 2021 | Earnings Reports
“Fiscal 2021 was a year of contrasts. While increased pandemic demand for our products led to record financial performance, it was overshadowed by the suffering and loss from the virus by many of our employees, their families and our communities. Our results speak for themselves but it was the dedication and hard work of our plant employees who truly made the difference through these difficult times.” - Paul Palmby, Chief Executive Officer
Mar. 10, 2021 | Corporate
“We believe our shares are undervalued, and we saw a tender offer as an opportunity to enhance value for our shareholders based upon the then current share price of our common stock,” said Seneca Chief Executive Officer Paul Palmby. “We believe the undersubscribed tender offer is clear evidence that shareholders share our view.”
Feb. 8, 2021 | Corporate
The Company is conducting a “modified Dutch auction”, which allows stockholders to indicate how much stock and at what price within the specified offer range they wish to tender their stock. The offer allows purchase up to $75 million in value of its Class A common stock, par value $0.25 per share, at a price not greater than $46.00 nor less than $40.00 per Class A Share to the seller in cash, less any applicable withholding taxes and without interest.