Company: SENEA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033352
Chunk: 30

Company: Seneca Foods Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 30
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 believes that its operations along with existing liquidity sources will satisfy its cash requirements for at least the next twelve months. The Company has borrowed funds and continues to believe that it has the ability to do so at reasonable interest rates; however additional borrowings would result in increased interest expense. The Company does not have any off-balance sheet financing arrangements.

Summary of Cash Flows: The following table presents a summary of the Company’s cash flows from operating, investing and financing activities (in thousands):

			Six Months Ended

			September 27,

			2025

			September 28,

			2024

			Cash provided by operating activities

			$
			83,041

			$
			125,868

			Cash used in investing activities

			(18,575
			)

			(19,916
			)

			Cash used in financing activities

			(96,722
			)

			(100,738
			)

			Net (decrease) increase in cash, cash equivalents and restricted cash

			(32,256
			)

			5,214

			Cash, cash equivalents and restricted cash, beginning of period

			50,390

			11,853

			Cash, cash equivalents and restricted cash, end of period

			$
			18,134

			$
			17,067

Net Cash Provided by Operating Activities: For the six months ended September 27, 2025, cash provided by operating activities was $83.0 million, which consisted of $28.8 million from changes in operating assets and liabilities, coupled with net earnings of $44.6 million and non-cash charges of $9.6 million. The non-cash charges were mainly comprised of $22.5 million of depreciation and amortization, a $5.8 million impact for deferred taxes, and $1.9 million of lease expense, largely offset by a $19.5 million LIFO credit. The change in operating assets and liabilities was largely impacted by working capital needs as the six-month period covered the primary months of the Company’s seasonal pack. Cash utilized for inventories and higher accounts payable activity were the main drivers.

For the six months ended September 28, 2024, cash provided by operating activities was $125.9 million, which consisted of $66.4 million from changes in operating assets and liabilities, coupled with net earnings