On August 3rd Seaboard Corporation (SEB) published results for the second quarter ending July 3rd. For the period, the company earned $176 million on revenue of $2,430 million with an EPS of $151.56. Corresponding values for Q2 of fiscal 2020 ending June 27th, included a net loss of $(27) million on revenue of $1,589 million with an negative EPS of $(23.51). For the most recent quarter, pork represented a net contribution of $129 million out of total segment earnings of $171 million.
Seaboard Corporation holds 50 percent of the equity of Butterball LLC. For the quarter, based on the Seaboard Corporation SEC Q-10 posting, Butterball attained a net loss of $7 million for Q2 FY 2021 reflected as a $4 million loss on the income statement of Seaboard Corporation. The loss for Q1 is estimated at $20 million. Butterball revenue amounted to $371 million with total assets valued at $1.2 billion. The Seaboard SEC 10.Q report ascribes the loss in the Butterball subsidiary as due to higher feed and plant production costs offset by an increase in sales volume and higher unit revenue. Seaboard was unable to provide guidance for Butterball based on an inability of the management to predict market price for turkey products, the cost of feed or ongoing impacts of COVID.
Seaboard Corporation has a market capitalization of $4,519 million and 52-week share price has ranged from $2,624.50 to $4,390.50 with a 50-day moving average of $3,917.87. On a trailing 12-month basis, operating margin was 5.1 percent and profit margin 9.5 percent. The company generated a return on assets of 4.0 percent and 20.3 percent on equity. Seventy eight percent of the Company equity is held by insiders.