SEABOARD CORPORATION REPORT OF EARNINGS AND DIVIDEND DECLARATION

Rhea-AI Summary

Seaboard (NYSE American: SEB) reported its earnings for Q2 2024 and H1 2024. Net sales for Q2 2024 were $2,209 million, down from $2,393 million in Q2 2023. Operating income improved to $30 million in Q2 2024 from a loss of $4 million in Q2 2023. Net earnings attributable to Seaboard increased to $61 million in Q2 2024 from $52 million in Q2 2023. Earnings per share rose to $62.82 in Q2 2024 from $44.80 in Q2 2023. The company declared a quarterly cash dividend of $2.25 per share, payable on August 19, 2024, to stockholders of record as of August 9, 2024.

Positive

• Operating income improved from a loss of $4 million in Q2 2023 to a profit of $30 million in Q2 2024
• Net earnings increased from $52 million in Q2 2023 to $61 million in Q2 2024
• Earnings per share rose from $44.80 in Q2 2023 to $62.82 in Q2 2024
• Consistent quarterly dividend of $2.25 per share maintained

Negative

• Net sales decreased from $2,393 million in Q2 2023 to $2,209 million in Q2 2024
• Six-month net sales declined from $4,892 million in H1 2023 to $4,400 million in H1 2024

MERRIAM, Kan., July 30, 2024 /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 June 29, 2024 and July 1, 2023, in millions of dollars except share and per share amounts.

		Three Months Ended						Six Months Ended
		June 29,			July 1,			June 29,			July 1,
		2024			2023			2024			2023
Net sales		$	2,209		$	2,393		$	4,400		$	4,892
Operating income (loss)		$	30		$	(4)		$	10		$	(67)
Net earnings attributable to Seaboard		$	61		$	52		$	83		$	36
Earnings per common share		$	62.82		$	44.80		$	85.47		$	31.01
Average number of shares outstanding			971,055			1,160,779			971,055			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 19, 2024 to stockholders of record at the close of business on August 9, 2024.

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SOURCE Seaboard Corporation

FAQ

What were Seaboard 's (SEB) earnings per share for Q2 2024?

Seaboard (SEB) reported earnings per share of $62.82 for Q2 2024, up from $44.80 in Q2 2023.

How much is Seaboard 's (SEB) quarterly dividend for Q2 2024?

Seaboard (SEB) declared a quarterly cash dividend of $2.25 per share for Q2 2024, payable on August 19, 2024.

What was Seaboard 's (SEB) net sales for Q2 2024 compared to Q2 2023?

Seaboard 's (SEB) net sales for Q2 2024 were $2,209 million, down from $2,393 million in Q2 2023.

How did Seaboard 's (SEB) operating income change in Q2 2024 compared to Q2 2023?

Seaboard 's (SEB) operating income improved from a loss of $4 million in Q2 2023 to a profit of $30 million in Q2 2024.