Financial Performance - Seaboard Corporation reported net sales of $2,218 million for the three months ended September 28, 2024, a decrease of 7.1% compared to $2,388 million for the same period in 2023[2] - Operating income for the three months ended September 28, 2024, was $32 million, down 52.2% from $67 million in the prior year[2] - The net loss attributable to Seaboard for the three months ended September 28, 2024, was $(149) million, compared to a net income of $126 million for the same period in 2023[2] - For the nine months ended September 28, 2024, net sales were $6,618 million, down from $7,280 million in the prior year, representing a decrease of 9.1%[2] - The net loss for the nine months ended September 28, 2024, was $(66) million, compared to a net income of $162 million for the same period in 2023[2] Earnings Per Share - Earnings per common share for the three months ended September 28, 2024, were $(153.44), a significant decline from $108.55 in the prior year[2] - Earnings per common share for the nine months ended September 28, 2024, were $(67.97), down from $139.56 in the prior year[2] Tax and Valuation - A valuation allowance of $176 million was recorded on U.S. deferred tax assets, impacting the income tax expense[2] Dividends and Shares - Seaboard Corporation declared a quarterly cash dividend of $2.25 per share, consistent with the previous quarter[2] - The average number of shares outstanding for the three months ended September 28, 2024, was 971,055, compared to 1,160,779 in the same period last year[2]

Core Viewpoint - Seaboard Corporation has reported its financial results for the three and six months ended June 29, 2024, showing improvements in net earnings and operating income compared to the same periods in the previous year [3][4]. Financial Performance - Net sales for the three months ended June 29, 2024, were $2,209 million, a decrease from $2,393 million in the same period of 2023 [3]. - Operating income for the three months ended June 29, 2024, was $30 million, recovering from an operating loss of $4 million in the same period of 2023 [3]. - Net earnings attributable to Seaboard for the three months ended June 29, 2024, increased to $61 million, compared to $52 million in the same period of 2023 [3]. - Earnings per common share for the three months ended June 29, 2024, rose to $62.82, up from $44.80 in the same period of 2023 [3]. Dividend Declaration - The Board of Directors of Seaboard Corporation has declared a quarterly cash dividend of $2.25 per share, payable on August 19, 2024, to stockholders of record as of August 9, 2024 [5].

Financial Performance - Seaboard Corporation reported net sales of $2,209 million for the three months ended June 29, 2024, a decrease of 7.7% compared to $2,393 million for the same period in 2023[2] - Operating income for the three months ended June 29, 2024, was $30 million, a significant recovery from an operating loss of $4 million in the same period last year[2] - For the six months ended June 29, 2024, net sales totaled $4,400 million, down from $4,892 million in the same period of 2023, indicating a decline of 10.1%[2] - Operating income for the six months ended June 29, 2024, was $10 million, a recovery from an operating loss of $67 million in the same period last year[2] Earnings and Dividends - Net earnings attributable to Seaboard increased to $61 million for the three months ended June 29, 2024, compared to $52 million for the same period in 2023, representing a growth of 17.3%[2] - The company reported a net earnings increase to $83 million for the six months ended June 29, 2024, compared to $36 million for the same period in 2023, marking a substantial growth of 130.6%[2] - Earnings per common share rose to $62.82 for the three months ended June 29, 2024, up from $44.80 in the same period last year, reflecting a year-over-year increase of 40.2%[2] - Earnings per common share for the six months ended June 29, 2024, increased to $85.47, compared to $31.01 in the same period of 2023, reflecting a growth of 175.5%[2] - Seaboard declared a quarterly cash dividend of $2.25 per share, consistent with the previous quarter, payable on August 19, 2024[3] Share Information - The average number of shares outstanding remained stable at 971,055 for the three months ended June 29, 2024, compared to 1,160,779 for the same period in 2023[2]

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 Seaboard Corporation (Exact name of registrant as specified in its charter) Delaware 1-3390 04-2260388 (State or other jurisdiction of (Commission (I.R.S. Employer 9000 West 67th Street, Merriam, Kansas 66202 Not Applicable p ( reported) April 30, 2024 incorporation) File Number) Identification No.) (Address of principal executive offices) (Zi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ____________________ Commission file number: 1-3390 SEABOARD CORPORATION (Exact Name of Registrant as Specified in Its Charter) | Delaware | 04-226 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________________________ to Commission File Number: 1-3390 Seaboard Corporation (Exact name of registrant as specified in its charter) Delawa ...

Business Segments - Seaboard operates in six reportable segments: Pork, CT&M, Marine, Sugar and Alcohol, Power, and Turkey, with a focus on essential goods and services[18]. - The Pork segment includes a vertically integrated operation with a processing capacity of approximately six million market hogs annually at the Seaboard Triumph Foods plant in Iowa[20]. - In 2022, Seaboard's Pork segment sold a 50% interest in its ham-boning and processing plant in Mexico to Triumph[20]. - The CT&M segment sources and markets approximately 14 million metric tons of agricultural commodities annually, primarily in Africa and South America[37]. - Seaboard's Marine segment operates a fleet of 17 chartered and six owned vessels, providing cargo shipping services in the U.S. and 26 countries in the Caribbean and Central and South America[24]. - The Sugar and Alcohol segment operates a vertically integrated facility in Argentina, supplying approximately 80% of the sugar cane processed from its own land[25]. - The Power segment generates electricity using two power-generating barges, with EDM III capable of producing approximately 148 megawatts of electricity[26]. - Seaboard's Turkey segment holds a 52.5% noncontrolling interest in Butterball, a major supplier of turkey products in the U.S.[27]. Employment and Workforce - As of December 31, 2022, Seaboard employed approximately 13,000 people, with 52% in the U.S., 31% in the Caribbean and Latin America, and 17% in Africa[41]. - The Pork segment had a retention rate of approximately 75% in 2022, with about 25% of its workforce dependent on employment visas[44]. - Seaboard provides competitive pay and benefits, including a company-sponsored 401K retirement savings plan for eligible domestic employees[45]. - The company offers on-the-job training and professional development opportunities, including tuition reimbursement for eligible employees in the Pork segment[47]. - 40% of Seaboard's board of directors are female, highlighting the company's commitment to global diversity[48]. Financial Performance - Seaboard's net sales for 2022 reached $11.2 billion, up from $9.2 billion in 2021, reflecting a significant increase in commodity prices and freight rates[122]. - Operating income for 2022 was $657 million, compared to $458 million in 2021, driven by higher voyage revenue in the Marine segment and improved margins in the CT&M segment[123]. - Net sales for the Pork segment increased by $124 million to $2,605 million for the year ended December 31, 2022, compared to 2021[124]. - Operating income for the Pork segment decreased by $323 million to a loss of $96 million for the year ended December 31, 2022, primarily due to higher costs of hogs and feed[125]. - Net sales for the CT&M segment increased by $1.1 billion to $6,290 million for the year ended December 31, 2022, compared to 2021[129]. - Operating income for the CT&M segment increased by $90 million to $151 million for the year ended December 31, 2022, reflecting higher margins on certain commodities[130]. - Net sales for the Marine segment increased by $647 million to $2,043 million for the year ended December 31, 2022, compared to 2021[135]. - Operating income for the Marine segment increased by $394 million to $591 million for the year ended December 31, 2022, primarily due to higher voyage revenue[136]. - Net sales for the Sugar and Alcohol segment increased by $6 million to $129 million for the year ended December 31, 2022, compared to 2021[139]. - Operating income for the Sugar and Alcohol segment increased by $9 million to $11 million for the year ended December 31, 2022, primarily due to higher margins[140]. - Net sales for the Power segment increased by $98 million to $158 million for the year ended December 31, 2022, compared to 2021[143]. - Operating income for the Power segment increased by $23 million to $14 million for the year ended December 31, 2022, primarily due to higher revenues[144]. Risks and Challenges - Seaboard's international operations face risks such as currency fluctuations, trade barriers, and government instability, which could impact financial performance[65]. - The ongoing conflict in Ukraine may affect global commodity prices and margins, potentially impacting Seaboard's financial condition[65]. - Economic conditions, including inflation and supply chain disruptions, could adversely affect the demand for Seaboard's products[66]. - The geographic areas where Seaboard operates have experienced labor shortages, resulting in higher labor costs that could adversely affect operations[10]. - The closure or damage to key processing plants, such as the Oklahoma pork processing plant, could materially impact Seaboard's business and financial condition[11]. - Fluctuations in commodity prices, particularly for feed components like corn and soybean meal, significantly affect operating margins in the Pork and Turkey segments[9]. - Approximately 5% of Seaboard's direct sales in 2022 were affected by California and Massachusetts regulations on pork sales, highlighting regulatory risks[12]. - Cybersecurity breaches pose a risk to Seaboard's operations, potentially disrupting business and negatively impacting financial results[4]. - The company faces risks related to food contamination, which could harm brand reputation and lead to decreased revenues[8]. - Legal and regulatory risks, including ongoing litigation and compliance with complex laws, could negatively affect Seaboard's financial results[12]. Capital Expenditures and Investments - Seaboard plans to invest approximately $750 million in capital expenditures for 2023, with $475 million allocated to the Pork segment and $200 million to the Marine segment[117]. - The company invested $474 million in property, plant, and equipment during 2022, with significant investments in biogas recovery projects in the Pork segment[116]. - Seaboard's future obligations include approximately $1.6 billion in current purchase commitments for materials or supplies related to hog, grain, feedstock, and fuel procurement[121]. Assets and Liabilities - Cash and short-term investments totaled nearly $1.3 billion as of December 31, 2022, with additional total working capital of $1.2 billion[113]. - The company experienced a decrease of $206 million in cash and short-term investments from the previous year, primarily due to capital expenditures and unrealized losses on short-term investments[115]. - Seaboard's available borrowing capacity as of December 31, 2022, was $668 million after drawing $457 million against its lines of credit[114]. - Total assets grew to $7,902 million in 2022, an increase from $7,503 million in 2021[177]. - Total liabilities decreased to $2,888 million in 2022 from $3,069 million in 2021[177]. - Retained earnings increased to $5,417 million in 2022, up from $4,847 million in 2021[177]. Research and Development - Seaboard's research and development efforts focus on improving hog genetics, health, feed efficiency, and the development of biodiesel and renewable diesel facilities[36]. - Seaboard incurred research and development expenses of $210 million, $191 million, and $134 million for the years ended December 31, 2022, 2021, and 2020, respectively[207]. Tax and Regulatory Matters - The effective tax rate for 2022 was lower than in 2021 due to increased federal investment tax credits and a favorable mix of foreign and domestic earnings[153]. - A hypothetical increase of 5% in the future U.S. federal income tax rate would decrease tax expense on the reversal of timing differences by approximately $3 million[156]. - The company recorded income tax payments of $101 million in 2022, slightly down from $104 million in 2021[189]. Financial Position and Performance Metrics - Gross income rose to $1,030 million in 2022, representing a 26% increase from $818 million in 2021[174]. - Net earnings attributable to Seaboard were $580 million in 2022, compared to $570 million in 2021, reflecting a slight increase[174]. - Earnings per common share increased to $499.66 in 2022, up from $490.36 in 2021[174]. - Comprehensive income attributable to Seaboard was $590 million in 2022, slightly down from $609 million in 2021[179]. - Seaboard Corporation's total receivables increased to $954 million in 2022 from $793 million in 2021, representing a growth of approximately 20.3%[191]. - The allowance for credit losses remained stable at $31 million for both 2022 and 2021, indicating effective management of credit risk[193].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 SEABOARD CORPORATION (Exact Name of Registrant as Specified in Its Charter) | Delaware | 04-2260388 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Employer Identification No.) | | Incorporation or Organization) | | | 9000 West 67th Street, Merriam, Kansas | 66202 | | (Address of Principal Executive Of ices) | (Zip Cod ...

| Title of each class | Trading Symbol(s) | Name of each exchange on which | | --- | --- | --- | | | | registered | | Common Stock $1.00 Par Value | SEB | NYSE American | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...