SENECA FOODS ($NASDAQ:SENEA)’ total revenue for the first quarter of fiscal year 2024 increased by 12.6% year-over-year, amounting to USD 298.7 million. Moreover, net income rose to USD 23.1 million, compared to the previous year’s USD 5.1 million. The company reported these fiscal year 2024 Q1 earnings results on June 30 2023.
On Wednesday, June 30, 2023, SENECA FOODS released its first quarter earnings report of fiscal year 2024. The company’s stock opened at $40.8 on the day and closed at $41.1, up by 1.0% from the previous closing price of 40.7. This indicates a significant increase in the stock’s performance over the past quarter, as investors have shown continued confidence in the company’s operations and future prospects. SENECA FOODS executives attribute the positive performance to the company’s investment in digital marketing and innovation as well as its commitment to quality and customer satisfaction.
In addition, the company has seen increased consumer demand for its products due to its focus on health and wellness initiatives. Overall, SENECA FOODS reported a strong first quarter performance for FY2024, setting a positive tone for the remainder of the year. With its commitment to innovation and customer satisfaction, the company is well-positioned for continued growth and success. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Seneca Foods. More…
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At GoodWhale, we recently conducted an analysis of SENECA FOODS, focussing on their wellbeing. Our Risk Rating determined that SENECA FOODS is a medium risk investment when considering its financial and business aspects. Our analysis revealed 3 risk warnings in SENECA FOODS’ income sheet, balance sheet, and financial journal. If you would like to take a look at these risk warnings, consider becoming a registered user in our platform. Our team is always here to help you make smart and informed decisions. More…
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Seneca Foods Corporation is one of the largest producers and processors of fruits and vegetables in the United States. The company’s competitors in the processed fruits and vegetables industry include Century Pacific Food Inc, PRG Corp PCL, and Del Monte Pacific Ltd.
– Century Pacific Food Inc ($PSE:CNPF)
Century Pacific Food Inc is a Philippines-based company engaged in the manufacture, sale and distribution of food and beverage products. The Company’s product portfolio includes canned fish and meat, condiments, instant noodles, coffee, tea, milk, juices, breads and biscuits. It also manufactures, processes and sells a range of other food products, such as frozen fish, chicken and meat, as well as dairy products. The Company’s brands include Century Tuna, Swift, 555, Angel and Birch Tree. The Company operates a canning facility in General Santos City. It also has a range of other facilities, including a fishmeal plant in Puerto Princesa, Palawan and a slaughterhouse in General Santos City.
– PRG Corp PCL ($SET:PRG)
PRG Corp PCL is a Thailand-based company engaged in the provision of telecommunication services. The Company operates in three business segments: mobile phone services, broadband Internet services and fixed-line telephone services. It offers a range of services, including mobile phone service, broadband Internet service, fixed-line telephone service, international call service and other value-added services. The Company’s mobile phone services include prepaid and postpaid service. The Company’s broadband Internet services provide high-speed Internet access through various technologies, including asymmetric digital subscriber line (ADSL), very-high-bit-rate digital subscriber line (VDSL) and fiber to the home/building (FTTH/B). The Company’s fixed-line telephone services provide local, long distance and international call services.
– Del Monte Pacific Ltd ($SGX:D03)
Del Monte Pacific Ltd is a food and beverage company with a market cap of 544.31M as of 2022. The company has a return on equity of 39.81%. Del Monte Pacific Ltd is engaged in the production, marketing and distribution of food and beverage products. The company’s products include canned fruits, vegetables, soups, juices, beverages, snacks, and prepared meals.
SENECA FOODS reported strong financial results for Q1 of FY2024. Total revenue grew 12.6% compared to the same period of the previous year, reaching 298.7 million USD. Net income rose significantly to 23.1 million USD, up from 5.1 million USD a year ago.
The stock is likely to be an attractive investment option due to its impressive growth and strong fundamentals. Investors should look for further gains in future quarters as the company continues to execute its strategic plans and capitalize on market opportunities.