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Operating Income by Segment
Shows each division’s profit after operating costs, highlighting which segments are most profitable, where costs or inefficiencies are eroding margins, and which units generate the cash that funds dividends or reinvestment.Seaboard’s earnings were slammed in 2023 by a steep Pork drawdown, but from 2024 most operating segments rebounded—Marine, Affiliates, Commodity Trading & Milling and Power look steadier, showing the benefit of diversification. That said, Liquid Fuels adds new volatility (big losses in 2024–25 then a large one‑quarter gain in 2026), and Corporate & Other overhead widened late‑2025, posing an earnings drag. Key risk for investors: are Pork and Liquid Fuels recoveries structural or just commodity/seasonal swings that could reverse?
Date | Corporate & Other | Pork | Liquid Fuels | Commodity Trading & Milling | Marine | Sugar & Alcohol | Power | Affiliates |
|---|---|---|---|---|---|---|---|---|
Jun 30, 2026 | -$12.00M | $17.00M | $53.00M | $10.00M | $7.00M | $0.00 | $22.00M | $41.00M |
Mar 31, 2026 | -$8.00M | $7.00M | $37.00M | $17.00M | $34.00M | $0.00 | $9.00M | $42.00M |
Dec 31, 2025 | -$22.00M | $12.00M | -$38.00M | $58.00M | $46.00M | $0.00 | $9.00M | $57.00M |
Sep 30, 2025 | -$13.00M | $58.00M | -$37.00M | $37.00M | $18.00M | $0.00 | $21.00M | $39.00M |
Jun 30, 2025 | -$10.00M | $28.00M | -$26.00M | $7.00M | $44.00M | $0.00 | $9.00M | $29.00M |
Mar 31, 2025 | -$10.00M | -$31.00M | -$26.00M | $41.00M | $57.00M | $0.00 | $7.00M | $13.00M |
Dec 31, 2024 | -$12.00M | $11.00M | $0.00 | $49.00M | $50.00M | $0.00 | $16.00M | $26.00M |
Sep 30, 2024 | -$6.00M | $12.00M | -$24.00M | $31.00M | -$1.00M | $0.00 | $20.00M | $17.00M |
Jun 30, 2024 | -$9.00M | -$4.00M | -$27.00M | $34.00M | $18.00M | $0.00 | $18.00M | $23.00M |
Mar 31, 2024 | -$12.00M | $1.00M | -$49.00M | $18.00M | $15.00M | $0.00 | $7.00M | $19.00M |