Seaboard Corporation reported its full year (FY) 2025 financial results, with net sales rising due to higher volumes of certain commodities sold, increasing sales by USD 743 million, despite a 5 percent decrease in average sales prices, which reduced sales by USD 287 million. Operating income for FY 2025 was USD 143 million. Income from affiliates totaled USD 17 million for the period. The company noted that operating income improved primarily due to a USD 31 million increase in mark-to-market gains on derivative contracts. Seaboard stated that its operations remain heavily commodity-driven, with financial performance subject to cyclical trends in global commodity markets and economic activity. During 2025, Seaboard was affected by tariffs and trade restrictions imposed by the U.S. government and subsequent retaliatory tariffs from other countries; however, the impact on the company’s 2025 results was not material. Seaboard continues to monitor ongoing uncertainties related to tariffs and geopolitical conditions, which could impact its future financial condition and results of operations. Management highlighted the importance of critical accounting estimates, particularly related to income taxes, due to the inherent uncertainties in financial reporting.

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