Seneca Foods Reports Strong Quarterly Earnings Growth
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Seneca Foods Corporation Class B (SENEB) reported strong Q2 earnings with net sales of $460 million, up from $425 million last year, and net earnings of $29.7 million, more than doubling from $13.3 million. Operating income increased to $41.5 million from $24.7 million, and interest expenses were reduced. The company introduced a receivables purchase program and reduced long-term debt. Seneca Foods remains optimistic about its financial outlook.
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