SEABOARD CORPORATION REPORT OF EARNINGS AND DIVIDEND DECLARATION

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MERRIAM, Kan., Oct. 29, 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 and nine months ended September 28, 2024 and September 30, 2023, in millions of dollars except share and per share amounts.





























(UNAUDITED)



Three Months Ended



Nine Months Ended







September 28,



September 30,



September 28,



September 30,







2024



2023



2024



2023



Net sales



$

2,218



$

2,388



$

6,618



$

7,280



Operating income



$

32



$

67



$

42



$



Net earnings (loss) attributable to Seaboard



$

(149)



$

126



$

(66)



$

162































Earnings (loss) per common share



$

(153.44)



$

108.55



$

(67.97)



$

139.56



Average number of shares outstanding





971,055





1,160,779





971,055





1,160,779



Dividends declared per common share



$

2.25



$

2.25



$

6.75



$

6.75



Seaboard Corporation's results for the three and nine months ended September 28, 2024 were impacted by a valuation allowance recorded on its U.S deferred tax assets of $176 million, with a corresponding charge to income tax expense. Further detail on the valuation allowance and third quarter results are included in its Quarterly Report on Form 10-Q filed today with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the 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 18, 2024 to stockholders of record at the close of business on November 8, 2024.

 

Cision View original content:https://www.prnewswire.com/news-releases/seaboard-corporation-report-of-earnings-and-dividend-declaration-302290665.html

SOURCE Seaboard Corporation

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Q&A

New
  • What were Seaboard Corporation's net sales for the third quarter of 2024?

    Seaboard Corporation reported net sales of $2,218 million for the three months ended September 28, 2024.

  • What was Seaboard Corporation's operating income for the third quarter of 2024?

    The operating income for Seaboard Corporation for the three months ended September 28, 2024, was $32 million.

  • What was the net earnings (loss) attributable to Seaboard Corporation for the third quarter of 2024?

    Seaboard Corporation incurred a net loss of $149 million attributable to the company for the third quarter of 2024.

  • What is the amount of the quarterly cash dividend announced by Seaboard Corporation?

    The dividend declared by Seaboard Corporation is $2.25 per share, payable on November 18, 2024.

  • What major accounting adjustment affected Seaboard Corporation's financial results for the third quarter of 2024?

    A valuation allowance on its U.S. deferred tax assets of $176 million significantly impacted Seaboard Corporation's results for the third quarter.

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