Company: SENEA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033352
Chunk: 77

Company: Seneca Foods Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 77
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5

			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 of $26.0 million and non-cash charges of $33.5 million. The non-cash charges were largely driven by $22.0 million of depreciation and amortization, $2.9 million of lease expense, and a $12.1 million LIFO charge. The change in operating assets and liabilities was largely due to working capital needs as the prior six-month period covered the primary seasonal pack harvest months.

19

The cash requirements of the business fluctuate significantly throughout the year to coincide with the seasonal growing cycles of vegetables. The majority