SEABOARD CORPORATION: REPORT OF EARNINGS AND DIVIDEND DECLARATION

Rhea-AI Summary

Seaboard Corporation reported net sales of $2.39 billion for Q2 2023, a decrease from $2.97 billion in Q2 2022. The company's net earnings attributable to Seaboard were $52 million, compared to $108 million in the same period last year. Earnings per common share were $44.80, down from $92.53 in Q2 2022. Seaboard Corporation declared a quarterly cash dividend of $2.25 per share of its common stock.

Positive

• Seaboard Corporation reported a decrease in net sales for Q2 2023 compared to the same period last year.
• The company's net earnings attributable to Seaboard decreased in Q2 2023.
• Earnings per common share decreased in Q2 2023 compared to Q2 2022.
• Seaboard Corporation declared a quarterly cash dividend of $2.25 per share of its common stock.

Negative

• None.

MERRIAM, Kan., Aug. 1, 2023 /PRNewswire/ -- The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB), with offices at 9000 West 67^th Street, Merriam, Kansas, for the three- and six-months ended July 1, 2023 and July 2, 2022, in millions of dollars except share and per share amounts.

		Three Months Ended						Six Months Ended
		July 1,			July 2,			July 1,			July 2,
		2023			2022			2023			2022
Net sales		$	2,393		$	2,973		$	4,892		$	5,682
Operating income (loss)		$	(4)		$	192		$	(67)		$	338
Net earnings attributable to Seaboard		$	52		$	108		$	36		$	211
Earnings per common share		$	44.80		$	92.53		$	31.01		$	181.81
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		$	4.50		$	4.50

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 August 21, 2023 to stockholders of record at the close of business on August 11, 2023.

View original content:https://www.prnewswire.com/news-releases/seaboard-corporation-report-of-earnings-and-dividend-declaration-301890951.html

SOURCE Seaboard Corporation

FAQ

What were Seaboard Corporation's net sales for Q2 2023?

Seaboard Corporation reported net sales of $2.39 billion for Q2 2023.

What were the net earnings attributable to Seaboard in Q2 2023?

The net earnings attributable to Seaboard were $52 million in Q2 2023.

What was the earnings per common share for Q2 2023?

The earnings per common share were $44.80 in Q2 2023.

What dividend did Seaboard Corporation declare?

Seaboard Corporation declared a quarterly cash dividend of $2.25 per share of its common stock.