Company: SENEA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025429
Chunk: 14

Company: Seneca Foods Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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	8,313

			$
			5,061

			3.

			Earnings per Common Share 

Earnings per share for the three months ended June 28, 2025 and June 29, 2024 are as follows (in thousands, except per share amounts):

			Three Months Ended

			June 28,

			June 29,

			2025

			2024

			Basic

			Net earnings

			$
			14,885

			$
			12,661

			Deduct preferred stock dividends

			6

			6

			Undistributed net earnings

			14,879

			12,655

			Earnings attributable to participating preferred shareholders

			17

			15

			Earnings attributable to common shareholders

			$
			14,862

			$
			12,640

			Weighted average common shares outstanding

			6,882

			6,962

			Basic earnings per common share

			$
			2.16

			$
			1.82

			Diluted

			Earnings attributable to common shareholders

			$
			14,862

			$
			12,640

			Add dividends on convertible preferred stock

			5

			5

			Earnings attributable to common stock on a diluted basis

			$
			14,867

			$
			12,645

			Weighted average common shares outstanding - basic

			6,882

			6,962

			Additional shares to be issued under full conversion of preferred stock

			67

			67

			Total shares for diluted

			6,949

			7,029

			Diluted earnings per common share

			$
			2.14

			$
			1.80

			4.

			Inventories

The Company uses the last-in, first-out (“LIFO”) method of valuing inventory as it believes this method allows for better matching of current production cost to current revenue. An actual valuation of inventory under the LIFO method is made at the end of each fiscal year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels, production pack yields, sales and the expected rate of