Filing Flows › Seaboard (SEB) › Q2 2026
Seaboard (SEB) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 4, 2026
Seaboard (SEB) reported revenue of $2.9B for the second quarter 2026 (Q2 2026), +18% from a year earlier and +22% from the quarter before. Operating margin was 3.4%, net earnings $154M (5.3% of revenue).
Seaboard, Q2 2026: revenue $2.9B (+18% year over year), operating margin 3.4%, net earnings $154M, operating cash flow $24.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +22% | +18% |
| Gross profit | $221M | +2% | +36% |
| Operating profit | $100M | +4% | +92% |
| Net earnings | $154M | +28% | +48% |
| Operating cash flow | $24.0M | — | -70% |
What changed
Revenue was $2.9B in Q2 2026, up 18% year over year and up 22% from the previous quarter. CT&M was the largest line at 53% of revenue. Liquid Fuels added $0.22B year over year (up 153%), 51% of the total change. All Other and Corporate declined 12%.
Gross margin was 7.6%, up 1.0 points from Q2 2025. Operating profit was $0.10B, a 3.4% margin (up 1.3 points year over year). Of the extra revenue versus Q2 2025, 11% reached operating profit, above the 2% margin then. Operating expenses grew 10% against revenue growth of 18%. Net earnings were $0.15B, up 50% year over year. The effective tax rate was 25.2%. Non-operating items added $0.11B, 51% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.02B (down 70% year over year), 16% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items used $0.21B. Capital expenditures of $0.10B exceeded it, leaving free cash flow of −$0.08B.
Questions
What was Seaboard's revenue in the second quarter 2026?
Seaboard (SEB) reported revenue of $2.9B for the second quarter 2026 (Q2 2026), +18% from a year earlier and +22% from the quarter before.
Was Seaboard profitable in the second quarter 2026?
Operating profit was $100M (3.4% of revenue) and net earnings $154M.
Source: Seaboard 10-Q on SEC EDGAR.