Exhibit 99.1
PRESS RELEASE
REPORT OF EARNINGS AND DIVIDEND DECLARATION
October 30, 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 nine-months ended September 30, 2023 and October 1, 2022, in millions of dollars except share and per share amounts.
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | Three Months Ended | | Nine Months Ended | | ||||||||
| | September 30, | | October 1, | | September 30, | | October 1, | | ||||
|
| 2023 |
| 2022 |
| 2023 |
| 2022 |
| ||||
Net sales | | $ | 2,388 | | $ | 2,895 | | $ | 7,280 | | $ | 8,577 | |
Operating income (loss) | | $ | 67 | | $ | 155 | | $ | — | | $ | 493 | |
Net earnings attributable to Seaboard | | $ | 126 | | $ | 146 | | $ | 162 | | $ | 357 | |
| | | | | | | | | | | | | |
Earnings per common share | | $ | 108.55 | | $ | 125.78 | | $ | 139.56 | | $ | 307.55 | |
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 | | $ | 6.75 | | $ | 6.75 | |
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 November 20, 2023 to stockholders of record at the close of business on November 9, 2023.