Seneca Foods Q1 sales rise on Green Giant Frozen acquisition
Seneca Foods Q1 sales rise on Green Giant Frozen acquisition
Overview
U.S. packaged fruits and vegetables maker's fiscal Q1 sales rose sharply yr/yr
Diluted EPS for fiscal Q1 rose to $2.85 from $2.14 a year earlier
Sales growth driven by Green Giant Frozen acquisition and private label expansion
Outlook
Company did not provide specific guidance for future quarters or the full year
Result Drivers
GREEN GIANT FROZEN ACQUISITION - Co said sales growth was driven by the Green Giant Frozen acquisition
PRIVATE LABEL GROWTH - Co cited steady private label growth as a contributor to increased sales
CO-PACK BUSINESS TIMING - Co said timing related to its co-pack business contributed to higher sales
Company press release: ID:nGNX1vQnkn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales | Beat | $405.17 mln | $327 mln (1 Analyst) |
Q1 EPS |
| $2.85 |
|
Q1 Operating Income |
| $26.23 mln |
|
Q1 Pretax Profit |
| $26.04 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the food processing peer group is "buy"
Wall Street's median 12-month price target for Seneca Foods Corporation is $202.00, about 18.3% above its August 5 closing price of $170.74
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(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.)