Seaboard Corporation Reports Earnings Results for the Second Quarter Ended July 3, 2021
August 03, 2021 at 04:18 pm EDT
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Seaboard Corporation announced earnings results for the second quarter ended July 3, 2021. For the second quarter, the company announced total revenue was USD 2,430 million compared to USD 1,808 million a year ago. Operating income was USD 165 million compared to USD 9 million a year ago. Net income was USD 176 million compared to net loss of USD 27 million a year ago. Basic earnings per share from continuing operations was USD 151.56 compared to basic loss per share from continuing operations of USD 23.51 a year ago. For the half year, total revenue was USD 4,489 million compared to USD 3,491 million a year ago. Operating income was USD 257 million compared to USD 72 million a year ago. Net income was USD 355 million compared to net loss of USD 130 million a year ago. Basic earnings per share from continuing operations was USD 305.59 compared to basic loss per share from continuing operations of USD 112.33 a year ago.
Seaboard Corporation is primarily engaged in hog production and pork processing; commodity trading and grain processing; cargo shipping services; sugar and alcohol production, and electric power generation. Its segments include Pork, CT&M, Marine, Sugar and Alcohol, Power and Turkey. Pork segment primarily produces and sells pork products to further processors, foodservice operators, distributors and grocery stores. CT&M segment is engaged in agricultural commodity trading, processing and logistics business. Marine segment provides cargo shipping services in the United States and 27 countries in the Caribbean and Central and South America. Sugar and Alcohol segment operates an integrated sugar and alcohol production facility in Argentina. Power segment uses two power-generating barges for its operations: Estrella Del Mar II and Estrella Del Mar III. Turkey segment operates Butterball, which is an integrated producer and processor of conventional and antibiotic-free turkey products.