Seneca Foods Q4 sales rise, gross margin improves
Seneca Foods Q4 sales rise, gross margin improves
Overview
U.S. packaged foods maker's fiscal Q4 sales rose yr/yr, driven by higher sales volume
Gross margin for fiscal Q4 improved to 11.2% from 4.5% a year ago
Company completed acquisition of U.S. Green Giant Frozen business, expanding frozen foods footprint
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
HIGHER SALES VOLUME - Q4 sales increase was primarily driven by higher sales volume
IMPROVED GROSS MARGINS - Gross margin improvement attributed to more normalized pack costs, per CEO Paul Palmby
Company press release: ID:nGNXb8z6Cq
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Sales |
| $393.85 mln |
|
Q4 EPS |
| $3.69 |
|
Q4 Operating Income |
| $23.74 mln |
|
Q4 Pretax Profit |
| $32.05 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 Corp is $194.00, about 31.1% above its June 10 closing price of $147.95
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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.)