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REPORT OF EARNINGS AND DIVIDEND DECLARATION

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Seaboard (NYSE American: SEB) reported earnings for Q1 2024, with net sales at $2.191 million, an operating loss of $20 million, and net earnings of $22 million. Earnings per share were $22.66, with a decrease in shares outstanding. The company declared a quarterly dividend of $2.25 per share.

Seaboard (NYSE American: SEB) ha riportato i risultati del primo trimestre del 2024, con vendite nette di 2,191 milioni di dollari, una perdita operativa di 20 milioni di dollari e utili netti di 22 milioni di dollari. Gli utili per azione sono stati di 22,66 dollari, con una diminuzione del numero di azioni in circolazione. La società ha dichiarato un dividendo trimestrale di 2,25 dollari per azione.
Seaboard (NYSE American: SEB) reportó las ganancias del primer trimestre de 2024, con ventas netas de $2.191 millones, una pérdida operativa de $20 millones y ganancias netas de $22 millones. Las ganancias por acción fueron de $22.66, con una disminución en el número de acciones disponibles. La compañía declaró un dividendo trimestral de $2.25 por acción.
세보드 (NYSE American: SEB)가 2024년 1분기 실적을 보고했습니다. 순매출은 2.191백만 달러, 운영 손실은 2천만 달러, 순이익은 2천2백만 달러였습니다. 주당 수익은 22.66달러로, 유통 주식 수가 감소했습니다. 회사는 주당 2.25달러의 분기 배당을 선언했습니다.
Seaboard (NYSE American: SEB) a rapporté ses résultats pour le premier trimestre de 2024, avec des ventes nettes de 2,191 millions de dollars, une perte d'exploitation de 20 millions de dollars et un bénéfice net de 22 millions de dollars. Le bénéfice par action était de 22,66 dollars, avec une diminution du nombre d'actions en circulation. La société a déclaré un dividende trimestriel de 2,25 dollars par action.
Seaboard (NYSE American: SEB) meldete die Ergebnisse für das erste Quartal 2024, mit einem Nettoumsatz von 2,191 Millionen Dollar, einem Betriebsverlust von 20 Millionen Dollar und einem Nettoergebnis von 22 Millionen Dollar. Der Gewinn pro Aktie betrug 22,66 Dollar, bei einer Abnahme der ausstehenden Aktien. Das Unternehmen kündigte eine vierteljährliche Dividende von 2,25 Dollar pro Aktie an.
Positive
  • Seaboard reported net earnings of $22 million for Q1 2024, showing profitability.
  • The company declared a consistent quarterly cash dividend of $2.25 per share, providing returns to shareholders.
Negative
  • Operating loss for Seaboard in Q1 2024 was $20 million, indicating a decrease in operational efficiency.
  • Net sales for Seaboard decreased from $2.499 million in Q1 2023 to $2.191 million in Q1 2024, reflecting a decline in revenue.

Insights

Seaboard Corporation's recent report indicates a decline in net sales from $2,499 million to $2,191 million, marking a concerning drop. However, a significant reduction in operating loss from $63 million to $20 million suggests improved operational efficiency. The earnings per share (EPS) shifted from a loss of $13.78 to a positive $22.66, demonstrating a robust turnaround. This fluctuation, partially attributable to a reduced average number of shares outstanding, could signal an effective share buyback strategy or a cancellation of shares, enhancing shareholder value. Amidst these financial dynamics, the constant dividend payout of $2.25 per common share could reassure investors of the company's commitment to returning value, despite the sales dip. Prospective investors should weigh the company's ability to maintain dividends against its sales performance and operational improvements.

The apparent resilience of Seaboard Corporation in declaring a steady dividend amidst fluctuating sales and an improved earnings landscape suggests confidence in its financial stability. This move stands to fortify investor trust during periods of market volatility. However, with net sales witnessing a decrease, the market's response may hinge on sales forecasts and strategies to counteract this downturn. Investors would be wise to scrutinize the firm's market position, competitive strategies and potential for sales recovery to gauge the sustainability of its dividend policy in the context of broader market trends.

MERRIAM, Kan., April 30, 2024 /PRNewswire/ -- The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB), with offices at 9000 West 67th Street, Merriam, Kansas, for the three months ended March 30, 2024, and April 1, 2023, in millions of dollars except share and per share amounts.











Three Months Ended




March 30,


April 1,




2024


2023


Net sales


$

2,191


$

2,499


Operating loss


$

(20)


$

(63)


Net earnings (loss) attributable to Seaboard


$

22


$

(16)










Earnings (loss) per common share


$

22.66


$

(13.78)


Average number of shares outstanding



971,055



1,160,779


Dividends declared per common share


$

2.25


$

2.25


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 May 20, 2024, to stockholders of record at the close of business on May 10, 2024.

Cision View original content:https://www.prnewswire.com/news-releases/report-of-earnings-and-dividend-declaration-302132251.html

SOURCE Seaboard Corporation

FAQ

What were Seaboard 's net sales for Q1 2024?

Seaboard reported net sales of $2.191 million for Q1 2024.

What is the earnings per share for Seaboard in Q1 2024?

Seaboard reported earnings per share of $22.66 for Q1 2024.

When is Seaboard 's quarterly dividend payable?

Seaboard 's quarterly dividend of $2.25 per share is payable on May 20, 2024.

Where can I access Seaboard 's Quarterly Report on Form 10-Q?

Seaboard has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.

Seaboard Corporation

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