Seneca Foods Corp

For the period ended Jun 29, 2024. Filed Aug 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 29, 2024 · Filed Aug 8, 2024

SENEB$148.31-2.5%Stored close · as of Nov 4, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Seneca Foods Corporation

Quarterly Report on Form 10-Q

Table of Contents

PART I. FINANCIAL INFORMATION
	Item 1. Financial Statements
		Condensed Consolidated Balance Sheets (Unaudited)	1
		Condensed Consolidated Statements of Net Earnings (Unaudited)	2
		Condensed Consolidated Statements of Comprehensive Income (Unaudited)	2
		Condensed Consolidated Statements of Cash Flows (Unaudited)	3
		Condensed Consolidated Statements of Stockholders' Equity (Unaudited)	4
		Notes to Condensed Consolidated Financial Statements (Unaudited)	5
	Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	14
	Item 3. Quantitative and Qualitative Disclosures about Market Risk	20
	Item 4. Controls and Procedures	20
PART II. OTHER INFORMATION
	Item 1. Legal Proceedings	21
	Item 1A. Risk Factors	21
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	21
	Item 3. Defaults Upon Senior Securities	21
	Item 4. Mine Safety Disclosures	21
	Item 5. Other Information	21
	Item 6. Exhibits	21
SIGNATURES	22

SENECA FOODS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share data)

	June 29, 2024	July 1, 2023	March 31, 2024
Assets
Current assets:
Cash and cash equivalents	$5,544	$5,216	$4,483
Restricted cash	7,431	7,075	7,370
Accounts receivable, net of allowance for credit losses of $72, $33 and $53, respectively	96,448	84,964	79,767
Inventories	841,847	735,124	872,692
Assets held for sale	64	3,158	64
Refundable income taxes	597	31	-
Other current assets	3,751	2,370	2,639
Total current assets	955,682	837,938	967,015
Property, plant and equipment, net	307,654	305,221	305,016
Right-of-use assets operating, net	13,841	22,105	19,705
Right-of-use assets financing, net	18,660	31,162	20,386
Pension assets	52,254	58,904	52,442
Other assets	21,034	1,286	19,433
Total assets	$1,369,125	$1,256,616	$1,383,997
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$62,460	$117,700	$40,326
Note payable	13,921	-	8,926
Deferred revenue	5,061	6,460	8,185
Accrued vacation	11,823	11,307	11,632
Accrued payroll	8,425	10,667	15,845
Income taxes payable	7,842	-	2,648
Other accrued expenses	32,538	21,452	33,383
Current portion of long-term debt and lease obligations	107,440	32,616	30,090
Total current liabilities	249,510	200,202	151,035
Long-term debt	473,065	414,894	585,786
Operating lease obligations	8,925	15,196	13,758
Financing lease obligations	11,231	15,484	12,259
Deferred income tax liability, net	24,161	31,513	24,320
Other liabilities	13,287	3,503	13,946
Total liabilities	780,179	680,792	801,104
Commitments and contingencies
Stockholders' equity:
Preferred stock	351	351	351
Common stock	3,050	3,049	3,050
Additional paid-in capital	100,469	99,304	100,425
Treasury stock, at cost	(206,747)	(170,750)	(200,107)
Accumulated other comprehensive loss	(25,380)	(20,488)	(25,380)
Retained earnings	717,203	664,358	704,554
Total stockholders' equity	588,946	575,824	582,893
Total liabilities and stockholders’ equity	$1,369,125	$1,256,616	$1,383,997

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.