US canned foods firm Seneca Foods has booked an increase in earnings in the first nine months of its fiscal year.

In the period ended 29 December, net profit soared to US$37.5m from $13.4m in the year-ago period, the company reported yesterday (31 January). A year earlier, the company incurred a $19.5m LIFO charge, which hit profits.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

EBITDA in the period amounted to $80.1m, compared to $4.4m reported a year earlier. Net sales were up 1.4% to $14m, boosted by higher selling prices and a more favourable sales mix.

The increase in nine-month profits came despite a fall in third-quarter earnings. Net profit dropped to $14.8m from $18.5m a year earlier, while operating profit slid 25% to $22m. Net sales, however, were up 1.3% to $452.7m

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now