Seaboard (SEB) Q3 FY2026 earnings: revenue $2.8 billion, up 9.1% on the year

Seaboard Corp. (SEB) reported revenue of $2.8 billion for Q3 FY2026, the quarter ended 3 October 2026, up 9.1% on the same quarter a year earlier. Net income was $28 million, down 74.3% on the year, and diluted earnings per share $29.23. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.

Revenue

$2.8 billion

+9.1% on the year · -5.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

0.5%

3.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$28 million

-74.3% on the year · -81.7% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$29.23

-74.3% on the year · -81.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Quarter net sales rose year over year: Net sales for the three months ended October 3, 2026 were $2,771 million, against $2,540 million a year earlier, an increase of $231 million.
Quarter operating income declined: Operating income was $13 million for the quarter, against $84 million a year earlier, a decrease of $71 million.
Quarter net earnings and EPS declined: Net earnings attributable to Seaboard were $28 million against $109 million. Earnings per common share were $29.23 against $113.71.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	2,771	2,922	2,540	-5.2%	+9.1%
Cost of revenue	2,639	2,701	2,342	-2.3%	+12.7%
Gross profit	132	221	198	-40.3%	-33.3%
Gross margin	4.8%	7.6%	7.8%
Selling, general and administrative	119	121	114	-1.7%	+4.4%
Operating income	13.0	100	84.0	-87.0%	-84.5%
Operating margin	0.5%	3.4%	3.3%
Interest expense	21.0	20.0	21.0	+5.0%	0.0%
Pre-tax income	37.0	206	125	-82.0%	-70.4%
Income tax	8.0	52.0	15.0	-84.6%	-46.7%
Effective tax rate	21.6%	25.2%	12.0%
Net income	28.0	153	109	-81.7%	-74.3%
Net margin	1.0%	5.2%	4.3%
Diluted EPS	$29.23	$159.74	$113.71	-81.7%	-74.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	266	24.0	319	+1,008.3%	-16.6%
Capital expenditure	101	102	167	-1.0%	-39.5%
Free cash flow	165	-78.0	152		+8.6%
Free cash flow margin	6.0%	-2.7%	6.0%
Cash from investing	-328	-50.0	-200
Cash from financing	76.0	59.0	-33.0	+28.8%
Depreciation and amortisation	82.0	83.0	78.0	-1.2%	+5.1%
Buybacks	n/a	n/a	14.0
Dividends paid	2.0	2.0	2.0	0.0%	0.0%
Dividend per share	$2.25	$2.25	$2.25	0.0%	0.0%
Diluted shares, weighted	957,794	957,794	958,618	0.0%	-0.1%
Shares outstanding at period end	957,794	957,794	957,951	0.0%	-0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	5,513	5,486	4,950	+0.5%	+11.4%
Non-controlling interest	22.0	23.0	21.0	-4.3%	+4.8%
Debt	1,680	1,595	1,495	+5.3%	+12.4%
Operating lease liabilities	234	250	290	-6.4%	-19.3%
Other liabilities	1,333	1,328	1,203	+0.4%	+10.8%
Total liabilities and equity	8,782	8,682	7,959	+1.2%	+10.3%
Goodwill	166	166	168	0.0%	-1.2%
Investments	1,523	1,276	1,242	+19.4%	+22.6%
Cash and equivalents	159	145	205	+9.7%	-22.4%
Receivables	805	893	810	-9.9%	-0.6%
Inventory	1,751	1,807	1,379	-3.1%	+27.0%
Other assets	4,378	4,395	4,155	-0.4%	+5.4%
Total assets	8,782	8,682	7,959	+1.2%	+10.3%

Questions

What was Seaboard's revenue in Q3 FY2026?

Seaboard (SEB) reported revenue of $2.8 billion for Q3 FY2026, the quarter ended 3 October 2026, up 9.1% on the same quarter a year earlier.

How much did Seaboard earn in Q3 FY2026?

Net income for Q3 FY2026 was $28 million, down 74.3% on the year, and diluted earnings per share $29.23.

When did Seaboard report Q3 FY2026 results?

Seaboard filed its 10-Q for the quarter ended 3 October 2026 with the SEC on 3 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,464	2,709	2,973	2,895	2,666	2,499	2,393	2,388	2,282	2,191	2,209	2,218	2,482	2,316	2,480	2,540	2,410	2,400	2,922	2,771
Cost of revenue	2,277	2,473	2,692	2,648	2,400	2,465	2,297	2,223	2,261	2,104	2,080	2,081	2,259	2,174	2,318	2,342	2,219	2,183	2,701	2,639
Gross profit	187	236	281	247	266	34.0	96.0	165	21.0	87.0	129	137	223	142	162	198	191	217	221	132
Gross margin	8%	9%	9%	9%	10%	1%	4%	7%	1%	4%	6%	6%	9%	6%	7%	8%	8%	9%	8%	5%
SG&A	98.0	90.0	89.0	92.0	102	97.0	100	98.0	108	107	99.0	105	109	104	110	114	126	121	121	119
Operating income	89.0	146	192	155	164	-63.0	-4.0	67.0	-87.0	-20.0	30.0	32.0	114	38.0	52.0	84.0	65.0	96.0	100	13.0
Operating margin	4%	5%	6%	5%	6%	-3%	-0%	3%	-4%	-1%	1%	1%	5%	2%	2%	3%	3%	4%	3%	0%
Interest expense	n/a	n/a	12.0	13.0	n/a	12.0	20.0	9.0	17.0	12.0	17.0	21.0	22.0	10.0	18.0	21.0	21.0	10.0	20.0	21.0
Pre-tax income	133	119	62.0	145	253	-13.0	48.0	93.0	-21.0	23.0	46.0	41.0	136	40.0	112	125	133	143	206	37.0
Tax rate	8%	13%	-74%	-1%	11%	n/a	-8%	-35%	n/a	4%	-33%	463%	-15%	20%	7%	12%	-92%	16%	25%	22%
Net income	121	103	108	146	223	-16.0	52.0	126	64.0	22.0	61.0	-149	154	32.0	102	109	253	119	153	28.0
Net margin	5%	4%	4%	5%	8%	-1%	2%	5%	3%	1%	3%	-7%	6%	1%	4%	4%	10%	5%	5%	1%
Diluted EPS	$103.27	$89.28 basic	$92.53 basic	$125.78 basic	$192.07	-$13.78 basic	$44.80	$108.55	$62.64	$22.66	$62.82	-$153.44	$158.58	$32.95	$105.22	$113.71	$262.58	$124.24	$159.74	$29.23
Operating cash flow	-4.0	106	11.0	260	299	93.0	111	377	129	19.0	6.0	194	300	-20.0	81.0	319	188	-54.0	24.0	266
Capital expenditure	136	161	112	94.0	107	111	108	125	162	104	133	136	138	109	151	167	135	96.0	102	101
Free cash flow	-140	-55.0	-101	166	192	-18.0	3.0	252	-33.0	-85.0	-127	58.0	162	-129	-70.0	152	53.0	-150	-78.0	165
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	14.0	n/a	n/a	n/a	n/a
Dividends paid	3.0	3.0	2.0	2.0	3.0	3.0	2.0	2.0	3.0	2.0	2.0	2.0	3.0	2.0	2.0	2.0	3.0	2.0	2.0	2.0
Shares outstanding	1m	1m	1m	1m	1m	1m	1m	1m	971,055	971,055	971,055	971,055	971,055	971,055	962,476	957,951	957,794	957,794	957,794	957,794
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 3 October 2026, filed 3 November 2026: the filing.