Seneca Foods Q4 Gross Margin Jumps to 11.2% as Sales Rise
SENEA sits 75% above its 52-week low of $85.2.
Summary
Seneca Foods reported strong Q4 results, with sales rising to $393.85 million and a significant improvement in gross margin to 11.2% from 4.5% a year ago. Q4 EPS was $3.69. This positive performance, driven by higher sales volume and normalized pack costs, follows the company's 10-K filing earlier today which highlighted outstanding full-year results. The company also completed the acquisition of the U.S. Green Giant Frozen business, expanding its frozen foods footprint.
At the time of this announcement, SENEA was trading at $149.21 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1B. The 52-week trading range was $85.20 to $167.52. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.