Seaboard (SEB) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose to $2.771B from $2.540B, while operating income fell to $13M from $84M and attributable net earnings declined to $28M from $109M.

• 9M net sales increased to $8.093B from $7.336B; operating income rose to $209M from $174M and attributable net earnings to $300M from $243M.

Financial highlights

• Q3 gross income was $132M vs. $198M; SG&A increased to $119M from $114M.

• Q3 other income, net, rose to $35M from $23M, including $20M in investment gains; 9M other income rose to $135M from $71M, including $80M in investment gains.

• Q3 EPS was $29.23 vs. $113.71; 9M EPS was $313.22 vs. $251.47. Earnings before taxes were $37M vs. $125M for Q3 and $386M vs. $277M for 9M.

• Cash and short-term investments totaled nearly $1.5B at October 3, 2026; total assets were $8.782B vs. $8.246B at December 31, 2025.

Segment performance

• Pork Q3 operating loss was $80M vs. $58M income, including a $51M inventory adjustment; 9M operating loss was $56M vs. $55M income.

• CT&M Q3 sales rose $151M to $1.501B and operating income increased to $54M from $37M; 9M operating income was $81M vs. $85M.

• Marine Q3 sales rose 13% to $425M and operating income reached $32M vs. $18M; 9M operating income fell to $73M from $119M amid higher voyage costs.

• Liquid Fuels 9M sales increased $434M to $879M and operating income rose $194M to $105M, driven by higher fuel and environmental-credit sales.

• Power Q3 sales fell to $40M from $69M and operating income to $3M from $21M as EDM III was down; Turkey affiliate income was $9M vs. $26M for Q3 and $65M vs. $43M for 9M.