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Mar 28, 2020
Seaboard Q1 2020 Earnings Report
Seaboard reported a net loss and a decrease in earnings per share for Q1 2020.
Key Takeaways
Seaboard Corporation reported net sales of $1,683 million for the three months ended March 28, 2020, compared to $1,543 million for the three months ended March 30, 2019. The company reported a net loss attributable to Seaboard of $(103) million, and a loss per common share of $(88.43). The effects of the COVID-19 pandemic were not significant to Seaboard Corporation’s first quarter 2020 results.
Net sales increased to $1,683 million compared to $1,543 million in the same period last year.
Net loss attributable to Seaboard was $(103) million, a significant decrease compared to a net income of $57 million in the previous year.
Loss per common share was $(88.43) compared to earnings per common share of $48.79 in the prior year.
A quarterly cash dividend of $2.25 per share was declared.