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Jul 01, 2023
Seaboard Q2 2023 Earnings Report
Seaboard's net sales decreased while experiencing an operating loss, but still achieved net earnings for the quarter.
Key Takeaways
Seaboard Corporation reported a decrease in net sales and an operating loss for the three months ended July 1, 2023. Despite the operating loss, the company achieved net earnings attributable to Seaboard.
Net sales decreased to $2,393 million compared to $2,973 million in the same period last year.
Operating income resulted in a loss of $4 million, a significant decrease from the $192 million income in the prior year.
Net earnings attributable to Seaboard were $52 million, down from $108 million year-over-year.
Earnings per common share decreased to $44.80 from $92.53 in the same quarter of the previous year.