MERRIAM, KAN. – Seaboard Corp. announced its financial results for the fiscal first quarter ended March 29, 2025, which included an operating loss of $31 million in its Pork Segment. The number is down from a $1 million operating income during the same time for pork in 2024.

According to the company’s filing with the Securities and Exchange Commission (SEC), Seaboard Corp. reported total net sales of $2.32 billion for the quarter, compared to $2.19 billion during the same period last year.

The Pork segment reported net sales of $486 million in the second quarter, a 3% decrease from the same quarter in 2024, which totaled $499 million.  

“This decrease in operating income was partially offset by lower feed costs of $57 million due to price and volume,” Seaboard wrote in its company filing. “Based on current uncertainties with tariffs, and as it is difficult to predict market prices for pork products, including the indirect impact of tariffs, management is uncertain whether the Pork segment will be profitable for the remainder of 2025.”

The company also noted that China has been an outlet for certain Seaboard pork products and represented 3% of the total sales for the business.

Seaboard’s turkey segment, including Butterball LLC, which Seaboard has an investment in, had net sales of $375 million compared to $370 million in the first quarter of 2024.

“The decrease in Butterball’s net income was primarily the result of a 9% increase in production and plant costs due to bird health issues,” the company said in the filing. “Sales were relatively flat with increased volumes being offset by a decrease in selling prices.”

The filing shows a dash where net income is usually reported for the quarter. Under Income From Affiliates in the first quarter of 2024, Butterball reported $7 million.

During the first quarter of 2025, Butterball closed a further processing plant in Jonesboro, Ark., which was planned at the end of last year. The filing stated that the closure did not have a material impact on this quarter, and it is not anticipated to impact future results.

“While management anticipates this segment will be profitable for the remainder of 2025, it is difficult to predict market prices for turkey products or the cost of feed for future periods,” Seaboard said in the filing.

During the first three months of 2025, Seaboard noted it invested $109 million into property, plant and equipment with $74 million going into its Marine segment.

Seaboard's overall operating income improved to $38 million, compared to a loss of $20 million in Q1 2024. The company net earnings increased to $32 million from $22 million year-over-year.

Earnings per share rose to $32.95 from $22.66