Seaboard (NYSE: SEB) 2025 earnings surge as board declares $2.25 dividend

Rhea-AI Filing Summary

Seaboard Corporation reported strong 2025 results alongside a steady dividend. For the quarter ended December 31, 2025, net sales were $2,410 million versus $2,482 million a year earlier, with operating income of $65 million. Quarterly net earnings attributable to Seaboard rose to $253 million from $154 million, and earnings per common share increased to $264.13 from $158.58.

For the full year 2025, net sales reached $9,746 million compared with $9,100 million in 2024. Operating income was $239 million versus $156 million, while net earnings attributable to Seaboard climbed to $496 million from $88 million, with full-year earnings per common share rising to $514.46 from $90.62. Results were affected by reversing a valuation allowance on certain domestic deferred tax assets, producing a total income tax benefit of $170 million for 2025.

The Board of Directors authorized and declared a regular quarterly cash dividend of $2.25 per share of common stock, payable on March 5, 2026 to shareholders of record on February 23, 2026. Total dividends declared were $9.00 per share for both 2025 and 2024.

Insights

Equity analyst

Seaboard’s 2025 earnings surged on a large tax benefit while revenue and operating income also improved.

Seaboard Corporation posted higher 2025 net sales of $9,746 million versus $9,100 million in 2024, and operating income increased to $239 million from $156 million. Net earnings attributable to Seaboard jumped to $496 million, with earnings per share rising to $514.46.

A key driver was an income tax benefit of $170 million from reversing a valuation allowance on certain domestic deferred tax assets. This significantly boosted reported profitability for the year ended December 31, 2025, and means part of the earnings increase is non-operational and unlikely to recur in the same form.

The board maintained a consistent shareholder return policy, declaring a quarterly cash dividend of $2.25 per share, with total dividends of $9.00 per share in both 2025 and 2024. Future filings, including the Form 10-K referenced here, provide further detail on tax items and segment performance that will shape how sustainable these results appear over time.

0000088121false00000881212026-02-122026-02-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

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Date of Report (Date of earliest event reported)	February 12, 2026

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Seaboard Corporation

(Exact name of registrant as specified in its charter)

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Delaware	​	1-3390	​	04-2260388
(State or other jurisdiction of	​	(Commission	​	(I.R.S. Employer
incorporation)	​	File Number)	​	Identification No.)

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9000 West 67th Street, Merriam, Kansas	66202
(Address of principal executive offices)	(Zip Code)

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Registrant’s telephone number including area code	(913) 676-8928

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Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock $1.00 Par Value	SEB	NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

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Item 2.02 Results of Operations and Financial Condition

On February 12, 2026, Seaboard Corporation (the “Registrant”) issued a press release announcing earnings for the quarter and year ended December 31, 2025, and the Board of Directors’ declaration of a quarterly cash dividend of $2.25 per share of common stock, payable on March 5, 2026, to stockholders of record at the close of business on February 23, 2026. The full text of this press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information furnished pursuant to Item 2.02, and the related press release included as Exhibit 99.1 to this Current Report, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

     Exhibits

99.1 Press release of Seaboard Corporation dated February 12, 2026 announcing earnings for the quarter and year ended December 31, 2025 and a declaration of a dividend.

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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​	​	​	Date: February 12, 2026
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​	​	​	Seaboard Corporation
​	​	​	​	(Registrant)
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​	​	​	By:	/s/ David H. Rankin
​	​	​	​	David H. Rankin Executive Vice President, Chief Financial Officer ​
​	​	​	​	(principal financial officer)

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3

Exhibit 99.1

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PRESS RELEASE

REPORT OF EARNINGS AND DIVIDEND DECLARATION

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February 12, 2026

Merriam, Kansas

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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 quarters and years ended December 31, 2025 and December 31, 2024, in millions of dollars except share and per share amounts.

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Three Months Ended

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Years Ended

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December 31,

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December 31,

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December 31,

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December 31,

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2025

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2024

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2025

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2024

Net sales

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$

2,410

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$

2,482

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$

9,746

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$

9,100

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Operating income

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$

65

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$

114

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$

239

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$

156

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Net earnings attributable to Seaboard

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$

253

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$

154

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$

496

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$

88

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Earnings per common share

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$

264.13

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$

158.58

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$

514.46

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$

90.62

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Average number of shares outstanding

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957,855

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971,055

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964,113

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971,055

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Dividends declared per common share

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$

2.25

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$

2.25

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$

9.00

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$

9.00

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Seaboard Corporation’s results for the three and twelve months ended December 31, 2025 were impacted by the reversal of a valuation allowance recorded on certain of its domestic deferred tax assets. Seaboard recognized a total income tax benefit of $170 million related to changes in the valuation allowance for the twelve months ended December 31, 2025. Further detail on the reversal of the valuation allowance and results for the year ended December 31, 2025 are included in its Annual Report on Form 10-K filed today with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Annual Report on Form 10-K 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 March 5, 2026 to stockholders of record at the close of business on February 23, 2026.

FAQ

How did Seaboard Corporation (SEB) perform financially in 2025?

Seaboard reported higher 2025 net sales of $9,746 million versus $9,100 million in 2024, with operating income rising to $239 million from $156 million. Net earnings attributable to Seaboard increased sharply to $496 million, and earnings per share reached $514.46.

What were Seaboard Corporation’s Q4 2025 earnings and revenue?

For Q4 2025, Seaboard generated net sales of $2,410 million compared with $2,482 million a year earlier. Net earnings attributable to Seaboard were $253 million versus $154 million, and earnings per common share rose to $264.13 from $158.58.

How did taxes affect Seaboard Corporation’s 2025 results?

Seaboard’s 2025 results were significantly affected by reversing a valuation allowance on certain domestic deferred tax assets, creating a total income tax benefit of $170 million. This non-operational tax benefit materially boosted net earnings for the year ended December 31, 2025.

What dividend did Seaboard Corporation (SEB) declare in February 2026?

Seaboard’s Board of Directors declared a quarterly cash dividend of $2.25 per share of common stock. The dividend is payable on March 5, 2026 to stockholders of record at the close of business on February 23, 2026, continuing its regular payout level.

What were Seaboard Corporation’s total dividends per share in 2025?

In 2025, Seaboard declared total dividends of $9.00 per common share, matching the $9.00 per share declared in 2024. This indicates a stable dividend level alongside significantly higher reported earnings and continued business growth during the year.

Where can investors find more detail on Seaboard Corporation’s 2025 results?

Further details on Seaboard’s 2025 results, including the tax valuation allowance reversal, are provided in its Annual Report on Form 10-K. The company states that this report is available on its investor website at https://www.seaboardcorp.com/investors.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 PRESS RELEASE 60.9 KB

Other Documents

• EX-101 EX-101.SCH 2.8 KB
• EX-101 EX-101.LAB 15.0 KB
• EX-101 EX-101.PRE 10.1 KB