The financials
Seaboard Corporation by the numbers
Seaboard Corporation (SEB) reported revenue of $2.40B in Q1 2026 (quarter ended April 4, 2026), up 3.6% from the same quarter a year earlier. That came with a gross margin of 9.0% and net income of $120M (5.0% of revenue). For the full year FY2025, revenue was $9.75B (+7.1% year on year) and net income $501M. Its largest segment in 2026-Q1 was Commodity Trading And Milling at $1.20B, 50% of the disclosed total, just ahead of Pork at 20%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $2.40B | $2.32B | +3.6% |
| Gross profit | $217M | $142M | +53% |
| Operating income | $96M | $38M | +153% |
| Net income | $120M | $32M | +275% |
| Diluted EPS | $124.24 | $32.95 | +277% |
| Operating | Revenue | Share |
|---|---|---|
| Commodity Trading And Milling | $1.20B | 50% |
| Pork | $465M | 20% |
| Marine | $428M | 18% |
| Liquid Fuels | $197M | 8.3% |
| Power | $60M | 2.5% |
| Corporate And Other | $23M | 1.0% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Q1 2026Total $2.37B (-5.6%)
Liquid Fuels grew +63% year on yearCorporate And Other -18% year on year
Segment Latestquarter on quarteryear on year
- Commodity Trading And Milling$1.20B$1.20BQoQ -11%year on year -1.9%-11%-1.9%
- Pork$465.0M$465.0MQoQ -9.9%year on year -0.64%-9.9%-0.64%
- Marine$428.0M$428.0MQoQ +14%year on year +6.2%+14%+6.2%
- Liquid Fuels$197.0M$197.0MQoQ +11%year on year +63%+11%+63%
- Power$60.0M$60.0MQoQ -13%year on year +13%-13%+13%
- Corporate And Other$23.0M$23.0MQoQ -21%year on year -18%-21%-18%