Seaboard(SEB) - 2024 Q3 - Quarterly Results

Financial Performance - Seaboard Corporation reported net sales of $2,218 million for the three months ended September 28, 2024, a decrease of 7.1$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$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]