Profile
Sector:
IndustrialsIndustry:
ConglomeratesCountry:
United StatesIPO:
22 February 1973Website:
http://www.seaboardcorp.comNext earnings report:
01 August 2024Last dividends:
09 May 2024Next dividends:
N/APrice
after hours | Wed, 03 Jul 2024 19:04:52 GMTAnalysts recommendations
Institutional Ownership
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SEB Latest News
Seaboard's pork division has been performing poorly due to low pork prices and high production costs. The company reported a 15% decrease in total revenue for FY 2023, resulting in a significant decrease in gross income and operating income. Seaboard expects the pork division to break even this year and has set a total capex budget of $555M for further investment.
Seaboard is a defensive investment opportunity trading well below tangible book value. The company just executed a large share buyback transaction at a -15% price discount, which is expected to be accretive to future per share results.
Seaboard Corporation has had a difficult start to the 2023 fiscal year, with a decline in revenue, profits and cash flows, largely due to issues in its three largest operating segments. The Pork segment of the business saw a decrease in operating profit due to lower sales prices and higher hog costs, while the Commodity Trading and Milling segment experienced a decline in revenue due to increased competition. Despite the current slump, shares of Seaboard Corporation are attractively priced and the company is expected to recover in the long term, leading to a "Buy" rating for the business.
Seaboard is a large producer of pork, provider of marine services while its Turkey division owns the Butterball brand. The performance in the first quarter was abysmal as the pork division performed poorly. Q2 may not be better but as hog prices are increasing I'm hopeful Seaboard's realized pork prices will improve.
Seaboard Corp. SEB, +0.50% said it received a proposal from its founding family to buy back shares, and appointed an independent committee to examine it, according to a Securities and Exchange Commission filing late Tuesday. Seaboard said its Chair Ellen Bresky and other members of the Bresky family have asked the company to buy back “at least” $600 million in shares held by the Bresky Group.
What type of business is Seaboard?
Seaboard Corporation operates as an agribusiness and transportation company worldwide. It operates through six segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. The Pork segment produces and sells fresh and frozen pork products to further processors, foodservice operators, grocery stores, and distributors; hogs; and biodiesel. The CT&M segment sources, transports, and markets wheat, corn, soybeans, soybean meal, and other commodities; and produces wheat flour, maize meal, manufactured feed, and oilseed crush commodities. The Marine segment provides cargo shipping services in the United States, as well as in 26 countries in the Caribbean, and Central and South America; dry, refrigerated, and specialized containers, as well as other related equipment; and operates a terminal and an off-port warehouse for cargo consolidation and temporary storage. As of December 31, 2021, this segment operated through a fleet of 20 chartered and 4 owned vessels. The Sugar and Alcohol segment produces and sells sugar and alcohol; and generates and sells energy through its 51-megawatt cogeneration power plant that is fueled by sugarcane by-products, natural gas, and other biomass. The Power segment operates as an independent power producer that generates electricity for the power grid in the Dominican Republic. The Turkey segment produces and processes organic turkey products to retail stores, foodservice outlets, and industrial entities, as well as exports products to Mexico and internationally. The company also processes and sells jalapeño peppers. Seaboard Corporation was founded in 1918 and is headquartered in Merriam, Kansas.
What sector is Seaboard in?
Seaboard is in the Industrials sector
What industry is Seaboard in?
Seaboard is in the Conglomerates industry
What country is Seaboard from?
Seaboard is headquartered in United States
When did Seaboard go public?
Seaboard initial public offering (IPO) was on 22 February 1973
What is Seaboard website?
https://www.seaboardcorp.com
Is Seaboard in the S&P 500?
No, Seaboard is not included in the S&P 500 index
Is Seaboard in the NASDAQ 100?
No, Seaboard is not included in the NASDAQ 100 index
Is Seaboard in the Dow Jones?
No, Seaboard is not included in the Dow Jones index
When does Seaboard report earnings?
The next expected earnings date for Seaboard is 01 August 2024