Seneca Foods Corp

For the period ended Dec 28, 2024. Filed Feb 6, 2025.

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.

Dec 28, 2024 · Filed Feb 6, 2025

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	16
	Item 3. Quantitative and Qualitative Disclosures about Market Risk	24
	Item 4. Controls and Procedures	24
PART II. OTHER INFORMATION
	Item 1. Legal Proceedings	25
	Item 1A. Risk Factors	25
	Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	25
	Item 3. Defaults Upon Senior Securities	25
	Item 4. Mine Safety Disclosures	25
	Item 5. Other Information	25
	Item 6. Exhibits	25
SIGNATURES	26

SENECA FOODS CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

	December 28, 2024	December 30, 2023	March 31, 2024
Assets
Current assets:
Cash and cash equivalents	$5,306	$7,168	$4,483
Restricted cash	7,605	7,251	7,370
Accounts receivable, net of allowance for credit losses of $75, $51 and $53, respectively	70,829	89,928	79,767
Inventories	735,682	968,889	872,692
Refundable income taxes	360	1,153	-
Other current assets	3,321	3,906	2,703
Total current assets	823,103	1,078,295	967,015
Property, plant and equipment, net	324,305	307,714	305,016
Right-of-use assets operating, net	9,892	20,538	19,705
Right-of-use assets financing, net	14,128	23,146	20,386
Pension assets	52,403	59,003	52,442
Other assets	2,084	841	19,433
Total assets	$1,225,915	$1,489,537	$1,383,997
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$70,791	$125,182	$40,326
Note payable	-	-	8,926
Deferred revenue	6,982	8,708	8,185
Accrued vacation	11,567	10,997	11,632
Accrued payroll	7,125	13,083	15,845
Income taxes payable	4,101	5,967	2,648
Other accrued expenses	36,730	29,530	33,383
Current portion of long-term debt, finance and lease obligations	106,569	30,582	30,090
Total current liabilities	243,865	224,049	151,035
Long-term debt	298,703	611,349	585,786
Operating lease obligations	6,541	13,617	13,758
Financing lease obligations	9,210	13,102	12,259
Finance obligation	17,870	-	-
Deferred income tax liability, net	23,154	30,820	24,320
Other liabilities	13,750	3,162	13,946
Total liabilities	613,093	896,099	801,104
Commitments and contingencies
Stockholders' equity:
Preferred stock	346	351	351
Common stock	3,051	3,050	3,050
Additional paid-in capital	100,563	99,430	100,425
Treasury stock, at cost	(210,912)	(195,706)	(200,107)
Accumulated other comprehensive loss	(25,380)	(20,488)	(25,380)
Retained earnings	745,154	706,801	704,554
Total stockholders' equity	612,822	593,438	582,893
Total liabilities and stockholders’ equity	$1,225,915	$1,489,537	$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.