Attached files
Exhibit 99.1
PRESS RELEASE
REPORT OF EARNINGS
October 31, 2014
Shawnee Mission, Kansas
The following is a report of earnings for Seaboard Corporation (NYSE MKT
symbol: SEB) with offices at 9000 West 67th Street, Shawnee Mission, Kansas
66202, (the "Company"), for the three and nine months ended September 27,
2014 and September 28, 2013, in thousands of dollars except share and per
share amounts.
Three Months Ended Nine Months Ended
September 27, September 28, September 27, September 28,
2014 2013 2014 2013
Net sales $1,622,641 $1,648,105 $4,796,868 $4,914,440
Net earnings attributable
to Seaboard $ 104,749 $ 30,969 $ 246,592 $ 127,970
Net earnings per common
share $ 89.49 $ 25.99 $ 208.76 $ 107.09
Average number of shares
outstanding 1,170,550 1,191,744 1,181,217 1,195,006
Notes to Report of Earnings:
As of September 27, 2014, Seaboard's Pork segment sold to Triumph Foods LLC
a 50% interest in Daily's Premium Meats, its processed meats division.
Included in net earnings attributable to Seaboard for the three and nine
months ended September 27, 2014 is a gain on sale of controlling interest
in subsidiary of $39,279,000 net of taxes, or $33.56 and $33.25 per share,
respectively ($64,392,000 gain before taxes). The final sale price is
subject to agreement on the final working capital adjustments but any such
remaining adjustment is not anticipated to be significant.
Seaboard Corporation today filed its Quarterly Report on Form 10-Q with the
United States Securities and Exchange Commission. Seaboard has provided
access to the Quarterly Report on Form 10-Q on its website at
http://www.seaboardcorp.com/investor
