Company: SENEA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033352
Chunk: 81

Company: Seneca Foods Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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 is a reconciliation of reported net earnings to EBITDA and FIFO EBITDA (in thousands):

			Three Months Ended

			Six Months Ended

			September 27,

			September 28,

			September 27,

			September 28,

			2025

			2024

			2025

			2024

			Net earnings

			$
			29,739

			$
			13,303

			$
			44,624

			$
			25,964

			Income taxes

			8,955

			3,765

			13,781

			7,605

			Interest expense, net

			4,684

			9,013

			10,094

			19,358

			Depreciation and amortization (1)

			12,423

			12,516

			24,445

			24,962

			Interest amortization (2)

			(148
			)

			(116
			)

			(302
			)

			(231
			)

			EBITDA

			55,653

			38,481

			92,642

			77,658

			LIFO (credit) charge

			(7,674
			)

			14,977

			(19,472
			)

			12,059

			FIFO EBITDA

			$
			47,979

			$
			53,458

			$
			73,170

			$
			89,717

			(1)

			Includes non-cash lease expense consistent with financial covenant calculations.

			(2)

			Reconciling item needed to exclude debt issuance cost amortization from the amount shown for interest expense.

New Accounting Standards 

Refer to Note 1, “Basis of Preparation and Presentation”, to the Condensed Consolidated Financial Statements contained herein. 

Critical Accounting Estimates

A description of the Company's critical accounting estimates is contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2025. There were no material changes to the Company's critical accounting policies or estimates during the six months ended September 27, 2025. 

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