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Mar 30, 2024
Seaboard Q1 2024 Earnings Report
Seaboard's financial performance saw a mix of challenges and improvements, with decreased net sales but a return to profitability.
Key Takeaways
Seaboard Corporation reported a decrease in net sales to $2.191 billion compared to $2.499 billion in the same period last year. However, the company returned to profitability with net earnings of $22 million, a significant improvement from the net loss of $16 million in the previous year. The company declared a dividend of $2.25 per share.
Net sales decreased to $2.191 billion from $2.499 billion year-over-year.
The company experienced an operating loss of $20 million, an improvement from the $63 million loss in the previous year.
Net earnings attributable to Seaboard were $22 million, a turnaround from the $16 million loss last year.
Earnings per common share were $22.66, compared to a loss per share of $13.78 in the prior year.