Seaboard (SEB) risk factors, FY2024 10-K

Seaboard's FY2024 10-K, filed Feb 13, 2025, lists 12 risk factors in 3 groups. There is no earlier 10-K to compare against, so the most company-specific risks are listed below.

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Risk factors listed
123 groups
Section length
6k wordsItem 1A

Seaboard's biggest risks in the FY2024 10-K

  • Seaboard faces severe operational concentration risks in specific pork, turkey, marine, and power facilities.
  • Commodity price volatility for corn and soybean meal directly dictates profit margins.

The risks most specific to Seaboard

  • Operational Risks

    These fluctuating market conditions have had and could have a significant impact on Seaboard’s sales, value of commodities held in inventory and operating income

    Feed costs for corn and soybean meal are the most significant component of raising hogs and turkeys for the Pork and Turkey segments.

  • Industry Risks

    (4) Difficulties Obtaining and Retaining Appropriate Personnel. Seaboard is dependent on having a sufficient number of properly trained operations personnel

    Rural locations and immigration policies affect the availability and cost of labor for the Pork, Liquid Fuels, and Turkey segments.

  • Industry Risks

    The inability to acquire and retain the services of such personnel, or increased costs associated with the acquisition and retention of such personnel, could have a material adverse effect on Seaboard’s operations

    Butterball is disproportionately dependent on the continued operation of its processing plant in North Carolina.

  • Industry Risks

    is different from renewable diesel and one product cannot be used in place of other products to fulfill specifications for customer contracts

    The Power segment relies on two power-generating barges located in the Dominican Republic, exposing operations to regional adverse events.

  • Legal and Regulatory Risks

    Specific Pork Segment Risks

    Renewable biogas recovery facilities in the Pork segment are in early operational phases and may not meet original return on investment estimates.

  • Legal and Regulatory Risks

    Specific Marine Segment Risks

    Time-charter expenses for vessels in the Marine segment vary greatly due to worldwide supply and demand for shipping.

  • Legal and Regulatory Risks

    Specific Power Segment Risks

    The Power segment faces competition from more efficient energy producers dispatched ahead of it based on a merit list.

All 12 risk factors

Headings as the filing states them, in filing order.

Operational Risks

  1. 01Accordingly, revenues, operating income and cash flows from international operations could fluctuate significantly from year to year
  2. 02These fluctuating market conditions have had and could have a significant impact on Seaboard’s sales, value of commodities held in inventory and operating income

Industry Risks

  1. 03(4) Difficulties Obtaining and Retaining Appropriate Personnel. Seaboard is dependent on having a sufficient number of properly trained operations personnel
  2. 04The inability to acquire and retain the services of such personnel, or increased costs associated with the acquisition and retention of such personnel, could have a material adverse effect on Seaboard’s operations
  3. 05is different from renewable diesel and one product cannot be used in place of other products to fulfill specifications for customer contracts

Legal and Regulatory Risks

  1. 06in the sales prices of pork products. Incrementally, strict growing standards could cause the creation of regional markets of compliant products or require the industry to build compliant assets for each market
  2. 07Specific Pork Segment Risks
  3. 08Specific Commodity Trading and Milling Segment Risks
  4. 09Specific Marine Segment Risks
  5. 10Specific Liquid Fuels Segment Risks
  6. 11Specific Power Segment Risks
  7. 12Specific Turkey Segment Risks

Other Seaboard 10-Ks

  • FY2025 10-K risk factors
    10 risks2 dropped5 reworded

    Seaboard refined disclosures around renewable biogas project output and regulatory subsidy shifts. The company highlighted trade policy volatility and the expiration of the federal blender's credit.

    Filed Feb 12, 2026

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.