REPORT OF EARNINGS AND DIVIDEND DECLARATION

Rhea-AI Summary

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.

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.

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 67^th 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.

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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.