Filing Flows › Seaboard (SEB) › How it makes money
How Seaboard (SEB) makes money
Seaboard (SEB) made $2.8B of revenue in the third quarter 2026 (Q3 2026), +9% from a year earlier. CT&M brought in $1.5B (54%); Pork Segment brought in $461M (17%); Marine brought in $425M (15%). Of every dollar of revenue, 5¢ was left as gross profit, 0¢ was left as operating profit, 1¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| CT&M | $1.5B | 54.2% | -3% | +11% |
| Pork Segment | $461M | 16.6% | -8% | -14% |
| Marine | $425M | 15.3% | +5% | +13% |
| Liquid Fuels | $312M | 11.3% | -16% | +75% |
| Power | $40.0M | 1.4% | -46% | -42% |
| All Other and Corporate | $32.0M | 1.2% | +45% | -6% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.8B | 100.0% |
| Cost of revenue | $2.6B | 95.2% |
| Gross profit | $132M | 4.8% |
| Operating expenses | $119M | 4.3% |
| Operating profit | $13.0M | 0.5% |
| Income tax | $8.0M | 0.3% |
| Net earnings | $29.0M | 1.0% |
| Operating cash flow | $266M | 9.6% |
| Free cash flow | $165M | 6.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.8B | +9% |
| Q2 2026 | $2.9B | +18% |
| Q1 2026 | $2.4B | +4% |
| Q4 2025 | $2.4B | -3% |
| Q3 2025 | $2.5B | +14% |
| Q2 2025 | $2.5B | +12% |
| Q1 2025 | $2.3B | +6% |
From Seaboard's 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Seaboard make money?
Seaboard (SEB) made $2.8B of revenue in the third quarter 2026 (Q3 2026), +9% from a year earlier. CT&M brought in $1.5B (54%); Pork Segment brought in $461M (17%); Marine brought in $425M (15%). Of every dollar of revenue, 5¢ was left as gross profit, 0¢ was left as operating profit, 1¢ was left as net earnings.
What is Seaboard's biggest business?
CT&M: $1.5B in the third quarter 2026, 54% of revenue, +11% from a year earlier.
What is Seaboard's profit margin?
Net earnings were $29.0M, 1.0% of revenue, in the third quarter 2026; the operating margin was 0.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.