Exhibit 99.1
PRESS RELEASE
REPORT OF EARNINGS AND DIVIDEND DECLARATION
August 1, 2023
Merriam, Kansas
The following is a report of earnings for Seaboard Corporation (NYSE American symbol: SEB), with offices at 9000 West 67th Street, Merriam, Kansas, for the three- and six-months ended July 1, 2023 and July 2, 2022, in millions of dollars except share and per share amounts.
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | Three Months Ended | | Six Months Ended | | ||||||||
| | July 1, | | July 2, | | July 1, | | July 2, | | ||||
|
| 2023 |
| 2022 |
| 2023 |
| 2022 |
| ||||
Net sales | | $ | 2,393 | | $ | 2,973 | | $ | 4,892 | | $ | 5,682 | |
Operating income (loss) | | $ | (4) | | $ | 192 | | $ | (67) | | $ | 338 | |
Net earnings attributable to Seaboard | | $ | 52 | | $ | 108 | | $ | 36 | | $ | 211 | |
| | | | | | | | | | | | | |
Earnings per common share | | $ | 44.80 | | $ | 92.53 | | $ | 31.01 | | $ | 181.81 | |
Average number of shares outstanding | |
| 1,160,779 | |
| 1,160,779 | |
| 1,160,779 | |
| 1,160,779 | |
Dividends declared per common share | | $ | 2.25 | | $ | 2.25 | | $ | 4.50 | | $ | 4.50 | |
Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the United States Securities and Exchange Commission. Seaboard Corporation has provided access to the Quarterly Report on Form 10-Q on its website at https://www.seaboardcorp.com/investors.
Also, Seaboard Corporation announced today that its Board of Directors has authorized and declared a quarterly cash dividend of $2.25 per share of its common stock. The dividend is payable on August 21, 2023 to stockholders of record at the close of business on August 11, 2023.