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Seneca Foods (SENEA) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Feb 6, 2025
Seneca Foods (SENEA) reported revenue of $503M for the third quarter fiscal 2025 (Q3 FY25), +13% from a year earlier and +18% from the quarter before. Operating margin was 5.1%, net earnings $14.7M (2.9% of revenue).
Seneca Foods, Q3 FY25: revenue $503M (+13% year over year), operating margin 5.1%, net earnings $14.7M, operating cash flow $118M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $503M | +18% | +13% |
| Operating profit | $25.7M | +4% | -17% |
| Net earnings | $14.7M | +10% | -17% |
| Operating cash flow | $118M | +56% | — |
| Free cash flow | $109M | +55% | — |
What changed
Revenue was $502.9M in Q3 FY25, up 13% year over year and up 18% from the previous quarter. Canned Vegetables was the largest line at 85% of revenue. Canned Vegetables added $53.5M year over year (up 14%), 92% of the total change. Frozen declined 2%.
Operating profit was $25.7M, a 5.1% margin (down 1.8 points year over year). Operating profit fell $5.1M even though revenue rose $58.4M versus a year earlier, so costs grew faster than sales. Total costs grew 15% against revenue growth of 13%. The fastest-growing cost line was Cost of revenue (+16%). Net earnings were $14.7M, down 17% year over year. The effective tax rate was 24.2%.
Operating cash flow was $117.7M, 803% of net earnings. Non-cash charges added back $11.5M of depreciation and amortization and $46K of share-based compensation. Working capital and other items added $91.5M. Capital expenditures of $9.1M left free cash flow of $108.7M.
Questions
What was Seneca Foods' revenue in the third quarter fiscal 2025?
Seneca Foods (SENEA) reported revenue of $503M for the third quarter fiscal 2025 (Q3 FY25), +13% from a year earlier and +18% from the quarter before.
Was Seneca Foods profitable in the third quarter fiscal 2025?
Operating profit was $25.7M (5.1% of revenue) and net earnings $14.7M.
Source: Seneca Foods 10-Q on SEC EDGAR.