Filing Flows › Seaboard (SEB) › Q3 2025
Seaboard (SEB) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Seaboard (SEB) reported revenue of $2.5B for the third quarter 2025 (Q3 2025), +15% from a year earlier and +2% from the quarter before. Operating margin was 3.3%, net earnings $110M (4.3% of revenue).
Seaboard, Q3 2025: revenue $2.5B (+14% year over year), operating margin 3.3%, net earnings $110M, operating cash flow $319M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5B | +2% | +15% |
| Gross profit | $198M | +22% | +45% |
| Operating profit | $84.0M | +62% | +162% |
| Net earnings | $110M | +6% | — |
| Operating cash flow | $319M | +294% | +64% |
| Free cash flow | $152M | — | +162% |
What changed
Revenue was $2.5B in Q3 2025, up 15% year over year and up 2% from the previous quarter. CT&M was the largest line at 53% of revenue. CT&M added $0.23B year over year (up 21%), 73% of the total change. All Other and Corporate declined 11%.
Gross margin was 7.8%, up 1.6 points from a year earlier. Operating profit was $0.08B, a 3.3% margin (up 1.9 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, above the 1% margin then. Operating expenses grew 9% against revenue growth of 15%. Net earnings were $0.11B. The effective tax rate was 12.0%. Non-operating items added $0.04B, 33% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.32B (up 64% year over year), 290% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items added $0.13B. Capital expenditures of $0.17B left free cash flow of $0.15B.
Questions
What was Seaboard's revenue in the third quarter 2025?
Seaboard (SEB) reported revenue of $2.5B for the third quarter 2025 (Q3 2025), +15% from a year earlier and +2% from the quarter before.
Was Seaboard profitable in the third quarter 2025?
Operating profit was $84.0M (3.3% of revenue) and net earnings $110M.
Source: Seaboard 10-Q on SEC EDGAR.