Seaboard Corporation Report Of Earnings And Dividend Declaration

Rhea-AI Summary

Seaboard Corporation reported a strong performance for the second quarter of 2021, with net sales surging to $2,430 million, up from $1,808 million in 2020. Operating income also saw a substantial increase to $165 million compared to last year's $9 million. The company achieved net earnings attributable to Seaboard of $176 million, a significant recovery from a net loss of $(27) million in the previous year. Earnings per share stood at $151.56, up from $(23.51). Additionally, a quarterly dividend of $2.25 per share was announced, payable on August 23, 2021.

Positive

• Net sales increased by 34.3% to $2,430 million from $1,808 million year-over-year.
• Operating income surged to $165 million compared to just $9 million in the previous year.
• Net earnings attributable to Seaboard reached $176 million, reversing a loss of $27 million in the same quarter last year.
• Earnings per share improved significantly to $151.56 from a loss of $23.51.
• Quarterly cash dividend of $2.25 announced, showing a commitment to returning value to shareholders.

Negative

• None.

MERRIAM, Kan., Aug. 3, 2021 /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 six months ended July 3, 2021 and June 27, 2020, in millions of dollars except share and per share amounts.

		Three Months Ended						Six Months Ended
		July 3,			June 27,			July 3,			June 27,
		2021			2020			2021			2020
Net sales		$	2,430		$	1,808		$	4,489		$	3,491
Operating income		$	165		$	9		$	257		$	72
Net earnings (loss) attributable to Seaboard		$	176		$	(27)		$	355		$	(130)
Earnings (loss) per common share		$	151.56		$	(23.51)		$	305.59		$	(112.33)
Average number of shares outstanding			1,160,779			1,160,779			1,160,779			1,162,307
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 23, 2021 to stockholders of record at the close of business on August 13, 2021.

View original content:https://www.prnewswire.com/news-releases/seaboard-corporation-report-of-earnings-and-dividend-declaration-301347697.html

SOURCE Seaboard Corporation

FAQ

What were Seaboard Corporation's earnings for the second quarter of 2021?

Seaboard Corporation reported net sales of $2,430 million and net earnings of $176 million for the second quarter of 2021.

How much did Seaboard Corporation's revenue grow compared to last year?

Seaboard's revenue grew by 34.3%, increasing from $1,808 million in 2020 to $2,430 million in 2021.

What is the dividend payout date for Seaboard Corporation's latest dividend?

The dividend of $2.25 per share is payable on August 23, 2021, to stockholders of record as of August 13, 2021.

What was the earnings per share for Seaboard Corporation in Q2 2021?

Earnings per share for Seaboard Corporation in Q2 2021 were $151.56.