Filing Flows › Seaboard (SEB) › Q1 2025
Seaboard (SEB) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 28, 2025
Seaboard (SEB) reported revenue of $2.3B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -7% from the quarter before. Operating margin was 1.6%, net earnings $32.0M (1.4% of revenue).
Seaboard, Q1 2025: revenue $2.3B (+6% year over year), operating margin 1.6%, net earnings $32.0M, operating cash flow −$20.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | -7% | +6% |
| Gross profit | $142M | -36% | +63% |
| Operating profit | $38.0M | -67% | — |
| Net earnings | $32.0M | -79% | +45% |
| Operating cash flow | −$20.0M | — | — |
What changed
Revenue was $2.3B in Q1 2025, up 6% year over year and down 7% from the previous quarter. CT&M was the largest line at 53% of revenue. Marine added $0.07B year over year (up 21%), 57% of the total change. All Other and Corporate declined 20%.
Gross margin was 6.1%, up 2.2 points from a year earlier. Operating profit was $0.04B, a 1.6% margin (up 2.6 points year over year). Operating expenses fell 3% while revenue rose 6%. Net earnings were $0.03B, up 45% year over year. The effective tax rate was 20.0%.
Operating cash flow was −$0.02B. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.13B. Capital expenditures of $0.11B exceeded it, leaving free cash flow of −$0.13B.
Questions
What was Seaboard's revenue in the first quarter 2025?
Seaboard (SEB) reported revenue of $2.3B for the first quarter 2025 (Q1 2025), +6% from a year earlier and -7% from the quarter before.
Was Seaboard profitable in the first quarter 2025?
Operating profit was $38.0M (1.6% of revenue) and net earnings $32.0M.
Source: Seaboard 10-Q on SEC EDGAR.