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Seaboard (SEB) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Seaboard (SEB) Q3 2026 earnings results →

Q3 2026 Revenue up 9% year over year to $2.8B · 1¢ of every $1 of revenue kept as net profit · operating margin 0.5%

Seaboard made $2.8B in Q3 2026 (+9% Y/Y): CT&M $1.5B, Pork Segment $461M, Marine $425M. Operating margin 0.5%, net earnings $29.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.

Revenue$2.8B

Year over year+9%

Operating margin0.5%

Net earnings$29.0M

Operating cash flow$266M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $2.8B in Q3 2026, up 9% year over year and down 5% from the previous quarter. CT&M was the largest line at 54% of revenue. CT&M added $0.15B year over year (up 11%), 65% of the total change. Power declined 42%.

Gross margin was 4.8%, down 3.0 points from Q3 2025. Operating profit was $0.01B, a 0.5% margin (down 2.8 points year over year). Operating profit fell $0.07B even though revenue rose $0.23B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 9%. Net earnings were $0.03B, down 74% year over year. The effective tax rate was 21.6%. Non-operating items added $0.02B, 65% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $0.27B (down 17% year over year), 917% of net income including minority interests. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items added $0.15B. Capital expenditures of $0.10B left free cash flow of $0.17B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Nov 3, 2026	$2.8B	+9%	0.5%	$29.0M	$266M
Q2 2026	10-Q	Aug 4, 2026	$2.9B	+18%	3.4%	$154M	$24.0M
Q1 2026	10-Q	May 5, 2026	$2.4B	+4%	4.0%	$120M	−$54.0M
Q4 2025	10-K	Feb 12, 2026	$2.4B	-3%	2.7%	$255M	$188M
Q3 2025	10-Q	Oct 28, 2025	$2.5B	+14%	3.3%	$110M	$319M
Q2 2025	10-Q	Jul 29, 2025	$2.5B	+12%	2.1%	$104M	$81.0M
Q1 2025	10-Q	Apr 28, 2025	$2.3B	+6%	1.6%	$32.0M	−$20.0M

Charts

Latest (Q3 2026): Y/Y +9%, Q/Q -5%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $29.0M, Operating cash flow $266M.

-16.9% since FY2022: buybacks shrank the count.

Cash $178M, short-term investments $1.1B, long-term debt — at 2025-12-31.

Wholesale-Farm Product Raw Materials; dot size is quarterly revenue; dashed lines are the industry's medians.