)

Seaboard (SEB) investor relations material
Seaboard Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales reached $2.48B for Q2 2025, up from $2.21B in Q2 2024, driven by higher CT&M, Marine, and Liquid Fuels segment sales.
Operating income increased $22M to $52M for Q2 2025, with gains in Pork and Marine segments, partially offset by CT&M mark-to-market losses.
Net earnings attributable to shareholders were $102M for Q2 2025, up from $61M in Q2 2024; EPS was $105.22 versus $62.82 year-over-year.
Cash from operating activities was $61M for H1 2025, up from $25M in 2024, aided by $77M in investment tax credit sales.
Share repurchase program authorized up to $100M; $24M of shares repurchased in Q2 2025.
Financial highlights
Q2 2025 net sales: $2.48B (Q2 2024: $2.21B); six months: $4.80B (2024: $4.40B).
Q2 2025 operating income: $52M (Q2 2024: $30M); six months: $90M (2024: $10M).
Net earnings Q2 2025: $104M (Q2 2024: $61M); six months: $136M (2024: $83M).
Gross margin Q2 2025: $162M (Q2 2024: $129M); six months: $304M (2024: $216M).
Cash and short-term investments at June 28, 2025: $1.1B.
Outlook and guidance
Management anticipates profitability for all major segments for the remainder of 2025 but notes uncertainty due to commodity price volatility, tariffs, and global economic conditions.
Capital expenditures for the remainder of 2025 are budgeted at $385M, mainly for Marine vessel construction and Pork segment investments.
Power segment to invest $315M in a new power-generating barge in the Dominican Republic, with $40M in payments expected in H2 2025.
Next Seaboard earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage