Seneca Foods Corporation (SENEB)

Etorro trading 970x250

About Seneca Foods Corporation

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and bottled produce; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby’s, Aunt Nellie’s, READ, Green Valley, Paradise, Seneca Farms, and CherryMan. It also packs Green Giant, Le Sueur, and other brands of canned vegetables, as well as select Green Giant frozen vegetables for B&G Foods North America under a contract packing agreement. In addition, the company engages in the sale of cans and ends, as well as trucking and aircraft operations. It provides its products to grocery outlets, including supermarkets, mass merchandisers, limited assortment stores, club stores, and dollar stores; and food service distributors, industrial markets, other food packagers, and export customers in 90 countries, as well as federal, state, and local governments for school and other feeding programs. The company was founded in 1949 and is headquartered in Marion, New York. Address: 3736 South Main Street, Marion, NY, United States, 14505-9751

Seneca Foods Corporation News and around…

Latest news about Seneca Foods Corporation (SENEB) common stock and company :

Those who invested in Seneca Foods (NASDAQ:SENE.A) three years ago are up 42%
02 Dec, 2021 Yahoo! Finance

Seneca Foods Corporation ( NASDAQ:SENE.A ) shareholders have seen the share price descend 14% over the month. In...

Seneca Foods Names New Director
12 Nov, 2021 Yahoo! Finance

MARION, N.Y., Nov. 12, 2021 (GLOBE NEWSWIRE) -- 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. Mr. Kayser will fill a current vacancy resulting from the passing of the Company’s Founder and Chairman, Arthur S. Wolcott. As a result of Mr. Kayser’s appointment, the size of the Board will remain unchanged at nine member

Seneca Foods Reports Sales and Earnings for the Six Months Ended October 2, 2021
12 Nov, 2021 Yahoo! Finance

MARION, N.Y., Nov. 12, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the second quarter and six months ended October 2, 2021. Executive Summary (vs. year-ago, second quarter results): Net sales for the second quarter of fiscal 2022 totaled $372.3 million compared to $390.3 million in the second quarter of fiscal 2021.Gross margin as a percentage of net sales for the second quarter is 11.5% in 2022 as compared to 12.5% in 2021. Comm

Here's Why I Think Seneca Foods (NASDAQ:SENE.A) Might Deserve Your Attention Today
06 Oct, 2021 Yahoo! Finance

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

Investors Will Want Seneca Foods' (NASDAQ:SENE.A) Growth In ROCE To Persist
31 Aug, 2021 Yahoo! Finance

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...

Seneca Foods Reports Sales and Earnings for the Three Months Ended July 3, 2021
11 Aug, 2021 Yahoo! Finance

MARION, N.Y., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the three months ended July 3, 2021. Highlights (vs. year-ago, year-to-date results): Net sales for the first quarter of fiscal 2022 totaled $235.0 million compared to $288.2 million for the prior quarter. The year-over-year decrease in sales resulted from a $24.2 million decrease due to the divesture of our prepared foods business, a $28.5 million decrease from a

What Type Of Shareholders Make Up Seneca Foods Corporation's (NASDAQ:SENE.A) Share Registry?
26 Jul, 2021 Yahoo! Finance

The big shareholder groups in Seneca Foods Corporation ( NASDAQ:SENE.A ) have power over the company. Insiders often...

Investors Who Bought Seneca Foods (NASDAQ:SENE.A) Shares Three Years Ago Are Now Up 86%
25 Jun, 2021 Yahoo! Finance

By buying an index fund, investors can approximate the average market return. But if you choose individual stocks with...

Overview Of Value Stocks In The Consumer Defensive Sector
18 Jun, 2021 FinancialContent

Understanding Value Stocks A value stock is traditionally defined in terms of how investors in the marketplace are valuing that ...

Seneca Foods Reports Sales and Earnings for the Quarter and Twelve Months Ended March 31, 2021
11 Jun, 2021 Yahoo! Finance

MARION, N.Y., June 11, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the fourth quarter and twelve months ended March 31, 2021. Highlights (vs. year-ago, year-to-date results): Net sales for 2021 totaled $1,467.6 million compared to $1,335.8 million for the prior year, an increase of $131.8 million. The overall increase in sales was attributable to increased sales volume of $74.2 million and higher selling prices/ favorable sales m

5 Value Stocks To Watch In The Consumer Defensive Sector
28 May, 2021 FinancialContent

What are Value Stocks? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. ...

Declining Stock and Solid Fundamentals: Is The Market Wrong About Seneca Foods Corporation (NASDAQ:SENE.A)?
11 May, 2021 Yahoo! Finance

It is hard to get excited after looking at Seneca Foods' (NASDAQ:SENE.A) recent performance, when its stock has...

5 Value Stocks In The Consumer Defensive Sector
30 Apr, 2021 FinancialContent

What Defines a Value Stock? A value stock is traditionally defined in terms of how investors in the marketplace are valuing that ...

I'm Looking at These 2 Stocks for Potential Value
14 Apr, 2021 Yahoo! Finance

Time to turn over more rocks to look for potential value -- not an easy task these days. To do so I've once again turned to my triple-net screen, which identifies stocks trading between 2x and 3x net current asset value, or NCAV. NCAV is calculated by subtracting total liabilities from current assets.

Does Seneca Foods (NASDAQ:SENE.A) Deserve A Spot On Your Watchlist?
26 Mar, 2021 Yahoo! Finance

It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

Seneca Foods Announces Final Results of Modified Dutch Auction Tender Offer
10 Mar, 2021 Yahoo! Finance

MARION, N.Y., March 10, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) (“Seneca” or the “Company”), one of North America's leading providers of packaged fruits and vegetables with facilities located throughout the United States, today announced the final results of its modified Dutch auction tender offer, which expired at 6:00 p.m., New York City time, on Tuesday, March 9, 2021. Based on the final count by Computershare Trust Company, the depositary for the tender offer (the “Depositary”), Seneca has accepted for purchase 531 shares of its Class A common stock, par value $0.25 per share (the “Class A Shares”), at a price of $46.00 per Class A Share, for an aggregate cost of $24,426, excluding fees and expenses relating to the tender offer. As Seneca accepted for purchase all the Class A Shares that were properly tendered and not properly withdrawn at a price at or below $46.00, there is no proration factor. The Company will promptly pay for the Class A Share repurchases with available cash. “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.” BofA Securities, Inc. acted as Dealer Manager for the tender offer, Georgeson LLC acted as Information Agent for the tender offer and Computershare Trust Company acted as the Depositary for the tender offer. All inquiries about the tender offer should be directed to the Dealer Manager or the Information Agent toll free at (888) 803-9655 or (866) 628-6079, respectively. About Seneca Foods Corporation Seneca Foods is one of North America’s leading providers of packaged fruits and vegetables, with facilities located throughout the United States. Its high quality products are primarily sourced from over 1,600 American farms. Seneca holds the largest share of the retail private label, food service, and export canned vegetable markets, distributing to over 90 countries. Products are also sold under the highly regarded brands of Libby’s®, Aunt Nellie’s®, Green Valley®, CherryMan®, READ®, and Seneca labels, including Seneca snack chips. Seneca’s common stock is traded on the Nasdaq Global Stock Market under the symbols “SENEA” and “SENEB”. SENEA is included in the S&P SmallCap 600, Russell 2000 and Russell 3000 indices. Contact: Timothy J. Benjamin, Chief Financial Officer315-926-8100

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Freshpet Reaches 80-Plus Relative Strength Rating Benchmark
25 Feb, 2021 Yahoo! Finance

Freshpet shows rising price performance, earning an upgrade to its IBD Relative Strength Rating from 79 to 82.

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Seneca Foods Commences Cash Tender Offer to Purchase Up to $75 Million in Value of its Class A Common Stock
08 Feb, 2021 Yahoo! Finance

MARION, N.Y., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) (“Seneca” or the “Company”), one of North America's leading providers of packaged fruits and vegetables with facilities located throughout the United States, today announced the commencement of a tender offer (the “Offer”) to purchase up to $75 million in value of its Class A common stock, par value $0.25 per share (the “Class A Shares”), 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. The Company is conducting the Offer by means of a procedure commonly called 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. Based on the number of Class A Shares tendered and the prices specified by the tendering stockholders, Seneca will determine the lowest price per Class A Share within the specified range that will enable it to purchase $75 million in value of Class A Shares at such price, or such lesser number of Class A Shares that are tendered and not withdrawn (the “Final Purchase Price”), subject to the terms of the Offer. All Class A Shares purchased by Seneca in the Offer will be purchased at the same price. The Offer is made in accordance with the terms and subject to the conditions described in the Offer to Purchase, dated February 8, 2021 (the “Offer to Purchase”), and the accompanying Letter of Transmittal, dated February 8, 2021 (together with the Offer to Purchase, the “Offer Materials”), as each may be amended or supplemented from time to time. The Offer will expire at 6:00 p.m., New York City time, on Tuesday, March 9, 2021 (the “Expiration Date”), unless the Offer is extended or earlier terminated. Tenders of Class A Shares must be made on or prior to the Expiration Date and may be withdrawn at any time prior to the Expiration Date in accordance with the procedures described in the Offer Materials. If, based on the Final Purchase Price, more than $75 million in value of Class A Shares (or such greater number of Class A Shares as Seneca may choose to purchase without amending or extending the Offer) are properly tendered and not properly withdrawn, Seneca will purchase shares tendered at or below the Final Purchase Price on a pro rata basis, subject to certain “odd lot” priority and conditional tender provisions. Stockholders whose Class A Shares are purchased in the Offer will be paid the determined purchase price in cash, less any applicable withholding taxes and without interest, after the expiration of the Offer. The Company believes that the “modified Dutch auction” tender offer provides its stockholders with the opportunity to tender all or a portion of their Class A Shares, and thereby receive a return of some or all of their investment in the Company, if they so elect. The Offer is not contingent upon the receipt of financing or any minimum number of Class A Shares being tendered. However, the Offer is subject to a number of other terms and conditions, which are described in detail in the Offer to Purchase. While the Company’s Board of Directors has authorized the Company to make the Offer, neither the Company, its Board of Directors, the dealer manager, the information agent, nor the depositary makes any recommendation as to whether to tender or refrain from tendering Class A Shares or as to the price at which to tender them. The Company has not authorized any person to make any such recommendation. Stockholders must make their own decision as to whether to tender their Class A Shares and, if so, how many Class A Shares to tender and the purchase price or purchase prices at which they will tender them. In doing so, stockholders should consult their own financial and tax advisors and read carefully and evaluate the information in the Offer Materials. Pursuant to Rule 13e-4(c)(2) under the Securities Exchange Act of 1934, as amended, the Company is filing with the Securities and Exchange Commission (the “SEC”) an Issuer Tender Offer Statement on Schedule TO, which contains additional information with respect to the Offer. The Schedule TO, including the exhibits and any amendments and supplements thereto, may be examined, and copies may be obtained, at the SEC’s website at www.sec.gov. The dealer manager for the tender offer is BofA Securities, Inc. Georgeson LLC is serving as information agent for the tender offer and Computershare Trust Company is serving as the depositary for the tender offer. For all questions relating to the tender offer, please call the information agent, Georgeson LLC at (866) 628-6079 or the dealer manager, BofA Securities, Inc. at (888) 803-9655. THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER OR SOLICITATION TO PURCHASE SECURITIES. THE OFFER IS BEING MADE SOLELY PURSUANT TO THE OFFER MATERIALS, WHICH SET FORTH THE COMPLETE TERMS OF THE OFFER THAT HOLDERS OF THE SECURITIES SHOULD CAREFULLY READ PRIOR TO MAKING ANY DECISION. THE COMPANY IS NOT MAKING THE OFFER TO (NOR WILL IT ACCEPT ANY TENDER OF SECURITIES FROM OR ON BEHALF OF) HOLDERS OF SECURITIES IN ANY JURISDICTION IN WHICH THE MAKING OF THE OFFER OR THE ACCEPTANCE OF ANY TENDER OF SECURITIES WOULD NOT BE IN COMPLIANCE WITH THE LAWS OF SUCH JURISDICTION, PROVIDED THAT THE COMPANY WILL COMPLY WITH THE REQUIREMENTS OF RULE 13E-4(F)(8) PROMULGATED UNDER THE EXCHANGE ACT. HOWEVER, THE COMPANY MAY, AT ITS DISCRETION, TAKE SUCH ACTION AS THE COMPANY MAY DEEM NECESSARY FOR IT TO MAKE THE OFFER IN ANY SUCH JURISDICTION AND EXTEND THE OFFER TO HOLDERS OF SECURITIES IN SUCH JURISDICTION. IN ANY JURISDICTION THE SECURITIES OR BLUE SKY LAWS OF WHICH REQUIRE THE OFFER TO BE MADE BY A LICENSED BROKER OR DEALER, THE OFFER SHALL BE DEEMED TO BE MADE ON THE COMPANY’S BEHALF BY ONE OR MORE REGISTERED BROKERS OR DEALERS WHICH ARE LICENSED UNDER THE LAWS OF SUCH JURISDICTION. About Seneca Foods Corporation Seneca Foods is one of North America’s leading providers of packaged fruits and vegetables, with facilities located throughout the United States. Its high quality products are primarily sourced from over 1,600 American farms. Seneca holds the largest share of the retail private label, food service, and export canned vegetable markets, distributing to over 90 countries. Products are also sold under the highly regarded brands of Libby’s®, Aunt Nellie’s®, Green Valley®, CherryMan®, READ®, and Seneca labels, including Seneca snack chips. Seneca’s common stock is traded on the Nasdaq Global Stock Market under the symbols “SENEA” and “SENEB”. SENEA is included in the S&P SmallCap 600, Russell 2000 and Russell 3000 indices. Contact: Timothy J. Benjamin, Chief Financial Officer315-926-8100

Seneca Foods Reports Sales and Earnings for the Quarter and Nine Months Ended December 26, 2020
03 Feb, 2021 Yahoo! Finance

MARION, N.Y., Feb. 03, 2021 (GLOBE NEWSWIRE) -- Seneca Foods Corporation (NASDAQ: SENEA, SENEB) today announced financial results for the third quarter and nine months ended December 26, 2020. Highlights (vs. year-ago, third quarter results): Net sales increased 23.3% to 484.4 million.Gross margin percentage increased from 13.3% to 16.0% as compared to the prior year three months due to higher selling prices and higher sales volume in the third quarter of 2021. “Our results for the quarter reflect the gain on sale of our prepared foods business as well as continued strong sales in our core business. I remain humbled by the dedication of all of our loyal employees during the pandemic as we continue to help do our part in meeting customer needs with our products,” stated Paul Palmby, President and Chief Executive Officer. Highlights (vs. year-ago, year-to-date results): Net sales increased 13.1% to $1,162.9 million.Gross margin percentage increased from 9.3% to 15.1% as compared to the prior year year-to-date mostly due to higher selling prices and higher sales volume in the first nine months of 2021. About Seneca Foods Corporation Seneca Foods is one of North America’s leading providers of packaged fruits and vegetables, with facilities located throughout the United States. Its high quality products are primarily sourced from over 1,600 American farms. Seneca holds the largest share of the retail private label, food service, and export canned vegetable markets, distributing to over 90 countries. Products are also sold under the highly regarded brands of Libby’s®, Aunt Nellie’s®, Green Valley®, CherryMan®, READ®, and Seneca labels, including Seneca snack chips. Seneca’s common stock is traded on the Nasdaq Global Stock Market under the symbols “SENEA” and “SENEB”. SENEA is included in the S&P SmallCap 600, Russell 2000 and Russell 3000 indices. Non-GAAP Financial Measures—Operating Income Excluding LIFO and Plant Restructuring Impact, EBITDA and FIFO EBITDA Operating income excluding LIFO and plant restructuring, EBITDA and FIFO EBITDA are non-GAAP financial measures. The Company believes these non-GAAP financial measures provide a basis for comparison to companies that do not use LIFO or have plant restructuring to enhance the understanding of the Company’s historical operating performance. The Company does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with GAAP. Set forth below is a reconciliation of reported Operating Income excluding LIFO and plant restructuring. Quarter Ended Nine Months Ended In millions In millions 12/26/2020 12/28/2019 12/26/2020 12/28/2019 FY 2021 FY 2020 FY 2021 FY 2020 Operating income, as reported:$90.6 $33.1 $148.5 $43.4 LIFO credit (4.7) (11.3) (4.3) (7.5) Plant restructuring (credit) charge (0.1) 0.8 0.2 6.7 Operating income, excluding LIFO and plant restructuring impact$85.8 $22.6 $144.4 $42.6 Set forth below is a reconciliation of reported net earnings to EBITDA and FIFO EBITDA (earnings before interest, income taxes, depreciation, amortization, non-cash charges and credits related to the LIFO inventory valuation method). The Company does not intend for this information to be considered in isolation or as a substitute for other measures prepared in accordance with GAAP. Nine Months EndedEBITDA and FIFO EBITDA: December 26, 2020 December 28, 2019 (In thousands) Earnings from continuing operations$111,271 $30,166 Income tax expense 29,479 9,357 Interest expense, net of interest income 4,586 9,183 Depreciation and amortization 24,302 22,644 Interest amortization (206) (209)LIFO EBITDA 169,432 71,141 LIFO credit (4,268) (7,457)FIFO EBITDA$165,164 $63,684 Forward-Looking Information The information contained in this release contains, or may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this release and include statements regarding the intent, belief or current expectations of the Company or its officers (including statements preceded by, followed by or that include the words “believes,” “expects,” “anticipates” or similar expressions) with respect to various matters. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Investors are cautioned not to place undue reliance on such statements, which speak only as of the date the statements were made. Among the factors that could cause actual results to differ materially are: general economic and business conditions;cost and availability of commodities and other raw materials such as vegetables, steel and packaging materials;transportation costs;climate and weather affecting growing conditions and crop yields;availability of financing;leverage and the Company’s ability to service and reduce its debt;potential impact of COVID-19 related issues at our facilities;foreign currency exchange and interest rate fluctuations;effectiveness of the Company’s marketing and trade promotion programs;changing consumer preferences;competition;product liability claims;the loss of significant customers or a substantial reduction in orders from these customers;changes in, or the failure or inability to comply with, United States, foreign and local governmental regulations, including environmental and health and safety regulations; andother risks detailed from time to time in the reports filed by the Company with the SEC. Except for ongoing obligations to disclose material information as required by the federal securities laws, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of the filing of this report or to reflect the occurrence of unanticipated events. Contact: Timothy J. Benjamin, Chief Financial Officer315-926-8100 Seneca Foods CorporationUnaudited Selected Financial Data For the Periods Ended December 26, 2020 and December 28, 2019(In thousands of dollars, except share data) Third Quarter Year-to-Date Fiscal 2021 Fiscal 2020 Fiscal 2021 Fiscal 2020 Net sales$484,392 $392,971 $1,162,851 $1,027,898 Plant restructuring (credit) expense (note 2)$(118) $793 $169 $6,745 Other operating income, net (note 3)$35,351 $1,617 $33,716 $8,618 Operating income (note 1)$90,560 $33,115 $148,545 $43,443 Loss (income) from equity investment (728) - 752 - Other (income) loss (234) (1,656) 2,457 (5,263)Interest expense, net 1,531 2,690 4,586 9,183 Earnings from continuing operations before income taxes$89,991 $32,081 $140,750 $39,523 Income tax expense from continuing operations 17,531 7,653 29,479 9,357 Earnings from continuing operations 72,460 24,428 111,271 30,166 Earnings from discontinued operations (net of tax) - 955 - 955 Net earnings$72,460 $25,383 $111,271 $31,121 Basic earnings per share: Continuing operations$7.96 $2.65 $12.18 $3.23 Discontinued operations$- $0.10 $- $0.10 Net basic earnings per common share$7.96 $2.75 $12.18 $3.33 Diluted earnings per share: Continuing operations$7.90 $2.63 $12.09 $3.20 Discontinued operations$- $0.10 $- $0.10 Net diluted earnings per common share$7.90 $2.73 $12.09 $3.31 Note 1: The effect of the LIFO inventory valuation method on third quarter pre-tax results increased operating earnings by $4,656,000 for the three month period ended December 26, 2020 and increased operating earnings by $11,337,000 for the three month period ended December 28, 2019. The effect of the LIFO inventory valuation method on third quarter pre-tax results increased operating earnings by $4,268,000 for the nine month period ended December 26, 2020 and increased operating earnings by $7,457,000 for the nine month period ended December 28, 2019. Note 2: The nine month period ended December 26, 2020 included a restructuring charge of $169,000 primarily related to closed plants in the Northwest, of which $227,000 was related to severance and $44,000 was related to lease impairments partially offset by a $102,000 credit of a former grower payment. The nine month period ended December 28, 2019 included a restructuring charge of $6,745,000 primarily for lease impairments (including accelerated amortization of $5,266,000) and equipment moves for plants in the Midwest and Northwest. Note 3: During the nine months ended December 26, 2020, the Company recorded a gain of $35,660,000 from the sale of it's prepared food business, a loss of $405,000 on the disposal of equipment from a sold Northwest plant and a loss of $365,000 from the sale of unused fixed assets. The Company also recorded a charge of $1,174,000 for a supplemental early retirement plan. Other operating income for the nine months ended December 28, 2019 includes a gain on the partial sale of a plant in the Midwest and Northwest of $5,479,000 and a gain on the sale of unused fixed assets of $3,139,000. Note 4: The Company uses the "two-class" method for basic earnings per share by dividing the earnings attributable to common shareholders by the weighted average of common shares outstanding during the period.

Where Do Hedge Funds Stand On Seneca Foods Corp (SENEA)?
11 Dec, 2020 Yahoo! Finance

Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]

Seneca Foods Corporation (SENEB) is a NASDAQ Common Stock listed in , ,

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