Despite a drop in revenue, net earnings were $971 million, or $2.10 per share on the common stock, compared with $712 million, or $1.55 per share, in the previous year’s third quarter.

While shellfish sales declined in the most recent quarter, price deflation — particularly for snow crab — is driving sales and volume increases for certain species.

The first half of 2023 was a great one for berry volumes and quality, said Jim Roberts, president of sales for Naturipe Farms.

Higher prices more than offset a decline in volume/mix at Corbion in the six-month period ended June 30.

In the 12 weeks ended July 15, Flowers Foods net income was $63.77 million, equal to 30¢ per share on the common stock, up 19% from $53.68 million, or 25¢ per share, in the second quarter of 2022. 

While fresh seafood sales fell slightly in the first half of 2023, analysts say the department has a lot of factors in its favor that should boost sales for the remainder of the year.

Quarterly sales rose to $843.6 million from $810.2 million the year before.

Price increases taken during 2022 and earlier this year have buoyed McCormick & Co.’s financial performance.

Dragon fruit, passion fruit, jackfruit and mangoes in particular have enjoyed strong growth.

Despite the rebound in restaurant sales over the past year, sales of tortillas and flatbreads remain strong in the retail channel while unit sales slipped only slightly.