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

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

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 - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now