Seaboard(SEB) - 2024 Q2 - Quarterly Results

Financial Performance - Seaboard Corporation reported net sales of $2,209 million for the three months ended June 29, 2024, a decrease of 7.7$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]