Filing Flows › Seaboard (SEB) › Q3 2026 › vs Q3 2025
Seaboard (SEB) Q3 2026 vs Q3 2025 (year over year)
Seaboard's revenue rose $231M (+9%) from $2.5B in Q3 2025 to $2.8B in Q3 2026. The biggest changes: CT&M +$151M (+11%); Liquid Fuels +$134M (+75%); Pork Segment −$73.0M (-14%). Gross margin 4.8% against 7.8% (-3.0 pts).
Seaboard, Q3 2026: revenue $2.8B (+9% year over year), operating margin 0.5%, net earnings $29.0M, operating cash flow $266M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 4.8% | 7.8% | -3.0 pts |
| Operating margin | 0.5% | 3.3% | -2.8 pts |
| Net margin | 1.0% | 4.3% | -3.3 pts |
| Free cash flow margin | 6.0% | 6.0% | -0.0 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| CT&M | $1.5B | $1.4B | $151M | +11% |
| Pork Segment | $461M | $534M | −$73.0M | -14% |
| Marine | $425M | $375M | $50.0M | +13% |
| Liquid Fuels | $312M | $178M | $134M | +75% |
| Power | $40.0M | $69.0M | −$29.0M | -42% |
| All Other and Corporate | $32.0M | $34.0M | −$2.0M | -6% |
| Revenue | $2.8B | $2.5B | $231M | +9% |
| Gross profit | $132M | $198M | −$66.0M | -33% |
| Cost of revenue | $2.6B | $2.3B | $297M | +13% |
| Other income, net | $24.0M | $41.0M | −$17.0M | -41% |
| Operating profit | $13.0M | $84.0M | −$71.0M | -85% |
| Operating expenses | $119M | $114M | $5.0M | +4% |
| Pre-tax earnings | $37.0M | $125M | −$88.0M | -70% |
| Net earnings | $29.0M | $110M | −$81.0M | -74% |
| Income tax | $8.0M | $15.0M | −$7.0M | -47% |
| Depreciation & amortization | $82.0M | $78.0M | $4.0M | +5% |
| Working capital & other | $155M | $131M | $24.0M | +18% |
| Operating cash flow | $266M | $319M | −$53.0M | -17% |
| Free cash flow (OCF − capex) | $165M | $152M | $13.0M | +9% |
| Capital expenditures | $101M | $167M | −$66.0M | -40% |
Questions
How much did Seaboard's revenue grow year over year in Q3 2026?
Seaboard's revenue rose $231M (+9%) from $2.5B in Q3 2025 to $2.8B in Q3 2026.
What drove Seaboard's revenue change in Q3 2026?
CT&M +$151M (+11%); Liquid Fuels +$134M (+75%); Pork Segment −$73.0M (-14%).