REPORT OF EARNINGS AND DIVIDEND DECLARATION

Rhea-AI Summary

Seaboard Corporation (NYSE American: SEB) reported its earnings for the three and nine months ended October 1, 2022. Net sales reached $2,895 million for the third quarter, up from $2,276 million in the same period last year. Operating income improved to $155 million, while net earnings attributable to Seaboard rose to $146 million or $125.78 per share. The company declared a quarterly cash dividend of $2.25 per share, payable on November 21, 2022. These results reflect strong revenue growth and operational efficiency.

Positive

• Net sales increased by 27.3% from $2,276 million to $2,895 million year-over-year.
• Operating income rose to $155 million compared to $112 million in the prior year.
• Net earnings attributable to Seaboard improved to $146 million from $94 million year-over-year.
• Declared a quarterly cash dividend of $2.25 per share.

Negative

• While net sales increased, the overall operational challenges and market conditions are not detailed, which may present risks.

MERRIAM, Kan., Nov. 1, 2022 /PRNewswire/ -- The following is a report of earnings for Seaboard Corporation (NYSE American: SEB), with offices at 9000 West 67^th Street, Merriam, Kansas, for the three and nine months ended October 1, 2022 and October 2, 2021, in millions of dollars except share and per share amounts (unaudited).

		Three Months Ended						Nine Months Ended
		October 1,			October 2,			October 1,			October 2,
		2022			2021			2022			2021
Net sales		$	2,895		$	2,276		$	8,577		$	6,765
Operating income		$	155		$	112		$	493		$	369
Net earnings attributable to Seaboard		$	146		$	94		$	357		$	449
Earnings per common share		$	125.78		$	81.50		$	307.55		$	387.09
Average number of shares outstanding			1,160,779			1,160,779			1,160,779			1,160,779
Dividends declared per common share		$	2.25		$	2.25		$	6.75		$	6.75

Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.

Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on November 21, 2022 to stockholders of record at the close of business on November 11, 2022.

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SOURCE Seaboard Corporation

FAQ

What were Seaboard Corporation's earnings results for Q3 2022?

Seaboard Corporation reported net sales of $2,895 million for Q3 2022, with a net income of $146 million, or $125.78 per share.

When is the dividend payment date for Seaboard Corporation?

The quarterly cash dividend of $2.25 per share is payable on November 21, 2022.

How much was Seaboard Corporation's net sales in the third quarter of 2022?

Seaboard Corporation's net sales in Q3 2022 were $2,895 million.

What was the year-over-year growth in net earnings for Seaboard Corporation?

Net earnings attributable to Seaboard increased from $94 million in Q3 2021 to $146 million in Q3 2022.