Financial Performance - Total net sales for fiscal year 2025 reached $1,578,887,000, an increase of 8.2% from $1,458,603,000 in fiscal year 2024[22] - The Company’s U.S. net sales were $1,492,266,000, representing 94.5% of total net sales, while international sales were $86,621,000, or 5.5%[26] - The Company’s net earnings for the third quarter of fiscal year 2025 were $14,659,000, compared to $17,675,000 in the same quarter of fiscal year 2024[33] - The gross margin for the third quarter of fiscal year 2025 was $49,110,000, compared to $54,033,000 in the same quarter of fiscal year 2024[33] - The top ten customers accounted for approximately 53% and 52% of net sales for fiscal years 2025 and 2024, respectively[57] - A majority of sales occur during the second and third quarters, significantly impacting results of operations due to seasonal consumption patterns[50] Sales and Product Information - Canned vegetables accounted for 83% of total food packaging net sales in fiscal year 2025, with sales of $1,314,315,000, up from $1,204,823,000 in fiscal year 2024[22] - The Company’s principal product offerings include canned, frozen, and jarred produce, with significant sales to both retail and foodservice sectors[21] Cost and Inventory Management - The Company experienced material cost increases due to supply chain disruptions and other factors, leading to elevated costs compared to historical levels[24] - The Company’s inventory at the end of the second quarter of fiscal year 2025 was $944,887,000, reflecting the seasonal nature of its production cycle[33] - The materials used, including raw fruits and vegetables, are subject to price volatility, which could adversely affect profitability[52] Employee and Workforce Information - The Company employed approximately 2,885 employees and an additional 4,010 seasonal employees during peak harvest season as of March 31, 2025[40] - The company had approximately 2,885 employees as of March 31, 2025, with about 2,800 being full-time and 85 seasonal employees, and an additional 4,010 seasonal employees during peak summer harvest[69] - The company recognizes plants achieving at least one million work hours without a lost time injury with the President's "Bronze Eagle" award[43] - The company has developed three key employee training programs: SAVES, GROWS, and LEADS, focusing on empowerment, leadership, and continuous improvement[44] Market and Competitive Environment - The company operates in a highly competitive marketplace, with significant pricing pressure from key customers and large-format retailers[57] - Economic conditions affecting consumer spending, such as inflation and employment levels, could materially impact growth and profitability[53] - The company is dependent on successful marketplace initiatives and consumer acceptance of its products, which may be influenced by dietary trends and regulatory changes[74] Risks and Regulatory Compliance - The company faces risks associated with defined benefit pension plans, which could require additional contributions due to market performance fluctuations[64] - The company is exposed to significant environmental regulations and potential remediation costs, which could materially affect its financial condition and results of operations[66] - The company faces risks from increasing labor costs and potential work stoppages, which could adversely affect its financial condition and operations[70] - The company has fully transitioned to BPA Non-Intent (BPANI) for its canned product volume, which is FDA approved, but future regulatory actions could impose additional costs[72] Financial Reporting and Governance - The Company’s internal control over financial reporting was assessed as effective as of March 31, 2025, based on COSO criteria[110] - There were no changes in internal control over financial reporting during the quarter ended March 31, 2025, that materially affected the Company's controls[111] - The consolidated financial statements for the years ended March 31, 2025, 2024, and 2023 are included in the 2025 Annual Report to Shareholders[125] - The company has signed certifications pursuant to the Sarbanes-Oxley Act, ensuring compliance and transparency in financial reporting[128] Cybersecurity and Risk Management - The cybersecurity risk management program is integrated with the overall enterprise risk management program, utilizing the NIST Cybersecurity Framework for risk identification and management[87] - The Company conducts periodic testing of its cybersecurity systems, including software and hardware assessments, to evaluate readiness and maturity[89] - The Board of Directors receives annual briefings on the cybersecurity risk management program, including updates on risks and the status of information security projects[94] - As of the report date, the Company is not aware of any cybersecurity incidents that have materially affected its business or financial condition[91] Strategic Initiatives and Future Outlook - The Company’s business strategies focus on expanding market share, enhancing sales and margins, and pursuing strategic acquisitions[17] - The company is expected to provide future performance guidance in its upcoming financial disclosures[125] - The company may face challenges in integrating future acquisitions or product innovations, which could affect its financial results[68] Financing and Capital Structure - As of March 31, 2025, the company had a $1.0 million outstanding balance on its revolving credit facility, indicating reliance on external financing during operational cash flow shortages[76] - The company has a LIFO reserve of $359.3 million as of March 31, 2025, which represents approximately $89.5 million of income taxes that could impact future cash flows if LIFO is repealed[83] - The company has undergone amendments to its loan agreements, indicating potential restructuring or refinancing efforts[125] - The company has a second amended and restated loan and guaranty agreement effective January 20, 2023, which may impact its financial leverage[125] Shareholder Information - The Company has a stock repurchase program, recently amended to allow the repurchase of up to 2,500,000 shares of Common Stock without an expiration date[101] - During fiscal year 2025, 3,870 shares were awarded under the 2007 Equity Incentive Plan, with 36,224 shares available for future awards as of March 31, 2025[117] - As of March 31, 2025, holders of Class B common stock and voting preferred stock controlled 90.6% of the combined voting power, potentially impacting corporate governance decisions[79] Manufacturing and Operational Capacity - The Company’s manufacturing facilities cover a total of 10,442 thousand square feet and 10,171 acres, with the ability to expand as sales require[95] - The company has only one plant for cherry products and one for pumpkin products, creating a risk of production disruption in case of a disaster[67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q Table of Contents or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 0-01989 (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 28, 2024 Seneca Foods Corporation (Exact name of Registrant as specified in its charter) New York 16 ...

FAIRPORT, N.Y., Nov. 06, 2024 (GLOBE NEWSWIRE) --  Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended September 28, 2024. Executive Summary (vs. year-ago, year-to-date results): Net sales for the six months ended September 28, 2024 totaled $730.2 million compared to $706.1 million for the six months ended September 30, 2023. The year-over-year increase of $24.1 million was due primarily to higher sales volumes.Gross margin as a perce ...

FAIRPORT, N.Y., Aug. 08, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended June 29, 2024. Executive Summary (vs. year-ago, year-to-date results): Net sales for the first quarter of fiscal 2025 totaled $304.7 million compared to $298.7 million for the first quarter of fiscal 2024. The year-over-year increase of $6.0 million was due to higher sales volumes. Gross margin as a percentage of net sales is 14.0% for the three month ...

FAIRPORT, N.Y., June 13, 2024 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2024. Earnings before income taxes, as reported $ 82,999 $ 13,793 LIFO charge 22,342 131,611 Adjusted earnings before income taxes 105,341 145,404 Income taxes at staturory rates 25,177 37,596 Adjusted net earnings $ 80,164 $ 107,808 Net sales for the twelve months ended March 31, 2024 totaled $1,458.6 million compared to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K Commission File Number 0-01989 Seneca Foods Corporation (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I. R. S. Employer Identification No.) New York 16-0733425 (Mark one) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECT ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-01989 Seneca Foods Corporation (Exact name of Registrant as specified in its charter) New York 16-0733425 (State or other jurisdiction of incorporation or org ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 0-01989 Seneca Foods Corporation (Exact name of Registrant as specified in its charter) New York 1 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 1, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 0-01989 Seneca Foods Corporation (Exact name of Registrant as specified in its charter) New York 16-0733 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark one) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number 0-01989 Seneca Foods Corporation (Exact name of Registrant as specified in its charter) (State or other juris ...