junewong
13 years ago
On October 31, 2011, the Board of Directors extended through October 31, 2012 the share repurchase program previously approved on November 6, 2009 and originally set to expire on October 31, 2011. Under this share repurchase program, Seaboard is authorized to repurchase from time to time up to $100,000,000 market value of its Common Stock in open market or privately negotiated purchases which may be above or below the traded market price. As of October 31, 2011, $63,329,000 remained available for repurchases under this program. During the period that the share repurchase program remains in effect, from time to time, Seaboard may enter into a 10b5-1 plan authorizing a third party to make such purchases on behalf of Seaboard. The stock repurchase will be funded by cash on hand. Shares repurchased will be retired and resume the status of authorized and unissued shares. All stock repurchased will be made in compliance with applicable legal requirements and the timing of the repurchases and the number of shares repurchased at any given time will depend upon market conditions, compliance with Securities and Exchange Commission regulations and other factors. The Board's stock repurchase authorization does not obligate a specific amount of common stock and the stock repurchase program may be suspended at any time at Seaboard's discretion.
junewong
13 years ago
Income drops for Seaboard’s trading, milling division
FoodBusinessNews.net, August 11, 2011
by Eric Schroeder
Bookmark and Share
SHAWNEE MISSION, KAS. — Operating income of the Commodity Trading and Milling Division of Seaboard Corp. in the second quarter ended July 2 fell 22% to $15,230,000 from $19,523,000, reflecting mark-to-market accounting of the company’s derivative contracts. Excluding mark-to-market adjustments, operating income in the quarter increased 98% to $17,400,000.
For the first six months of fiscal 2011, operating income in the division totaled $38,302,000, down 9% from $42,157,000. Excluding mark-to-market adjustments, operating income in the first half was $28,500,000, up 26% from $22,700,000.
Division sales totaled $621,007,000 in the second quarter, up 53% from $405,633,000. For the first half, sales rose 64% to $1,333,238,000 from $813,736,000.
“The increases are primarily the result of increased prices for wheat and corn, and, to a lesser extent, increased volume of commodities sold to third parties,” Seaboard said in an Aug. 10 filing with the Securities and Exchange Commission.
In the company’s Sugar segment, operating income totaled $21,586,000 in the second quarter, up 126% from $9,500,000 in the same period of fiscal 2010. For the first half, operating income rose to $44,025,000 from $20,822,000. Seaboard said the increases reflected higher margins from the increase in sugar prices. Going forward, Seaboard said it expects positive operating income for the segment for the remainder of fiscal 2011 but cautioned that a labor strike that began at a sugar mill in late July may result in a shorter harvest season and may have an impact on anticipated operating results.
Net sales for the Sugar segment in the second quarter rose 61% to $72,594,000 from $45,036,000, and for the first half climbed 41% to $139,597,000 from $98,858,000.
Overall, Seaboard Corp. net income in the second quarter was $113,486,000, equal to $93.34 per share on the common stock, up 46% from $77,604,000, or $63.21 per share, in the second quarter of fiscal 2010. Net sales for the quarter totaled $1,398,587,000, up 33% from $1,048,463,000 in the same period last year. For the first six months net income was $230,350,000, or $189.45 per share, up sharply from $140,382,000, or $114.02 per share. Net sales totaled $2,866,766,000, up 39% from $2,068,739,000.
Soapy Bubbles
13 years ago
Seaboard Corporation Report of Earnings
print
Seaboard (AMEX:SEB)
Intraday Stock Chart
Today : Tuesday 9 August 2011
Click Here for more Seaboard Charts.
Seaboard Corporation Report of Earnings
PR Newswire
SHAWNEE MISSION, Kan., Aug. 9, 2011
SHAWNEE MISSION, Kan., Aug. 9, 2011 /PRNewswire/ --The following is a report of earnings for Seaboard Corporation (NYSE Amex symbol: SEB) with offices at 9000 West 67th Street, Shawnee Mission, Kansas 66202, (the "Company"), for the three and six months ended July 2, 2011 and July 3, 2010, in thousands of dollars except share and per share amounts.
Three Months Ended
Six Months Ended
July 2,
July 3,
July 2,
July 3,
2011
2010
2011
2010
Net sales
$1,398,587
$1,048,463
$2,866,766
$2,068,739
Net earnings attributable to Seaboard
$113,486
$77,604
$230,350
$140,382
Net earnings per common share
$93.34
$ 63.21
$189.45
$114.02
Average number of shares outstanding
1,215,879
1,227,628
1,215,879
1,231,207
Notes to Report of Earnings:
Included in net earnings attributable to Seaboard for the three and six months ended July 2, 2011 is a gain on sale of power generating facilities in the amount of $51,423,000, or $42.29 share. There was no tax expense on this transaction.
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-sec.aspx.
Soapy Bubbles
13 years ago
Earning
Seaboard Corporation Report of Earnings
Seaboard (AMEX:SEB)
Intraday Stock Chart
Today : Friday 6 May 2011
Click Here for more Seaboard Charts.
Seaboard Corporation Report of Earnings
PR Newswire
SHAWNEE MISSION, Kan., May 6, 2011
SHAWNEE MISSION, Kan., May 6, 2011 /PRNewswire/ --The following is a report of earnings for Seaboard Corporation (NYSE Amex symbol: SEB) with offices at 9000 West 67th Street, Shawnee Mission, Kansas 66202, (the "Company"), for the three months ended April 2, 2011 and April 3, 2010, in thousands of dollars except share and per share amounts.
Three Months Ended
April 2,
April 3,
2011
2010
Net sales
$1,468,179
$1,020,276
Net earnings attributable to Seaboard
$116,864
$62,778
Net earnings per common share
$96.11
$ 50.84
Average number of shares outstanding
1,215,879
1,234,710
Notes to Report of Earnings: