SEB — what changed in the latest 10-Q
A section-by-section comparison of SEB's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-03 vs the prior 10-Q · 2026-08-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +17 | −15 | ~8 | 6 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-03
Cash used in investing activities was $465 million for the nine months ended October 3, 2026, compared to $401 million for the same period in 2025. This change was primarily due to a $280 million increase in net purchases of short-term investments, partially offset by lower capital expenditures of $…
in property, plant and equipment, including $119 million in the Power segment, consisting primarily of installment payments for EDM IV, a new barge currently under construction. Seaboard continues to explore strategic acquisitions and investments to further grow and diversify its operations.
Cash provided by financing activities was $209 million for the nine months ended October 3, 2026, compared to $117 million for the same period in 2025. Cash flows from financing activities primarily include draws and repayments under committed and uncommitted revolving facilities held with financial…
For the remainder of 2026, management has budgeted capital expenditures totaling approximately $145 million. Management anticipates funding these capital expenditures through a combination of available cash, proceeds from sales of short-term investments and Seaboard’s available borrowing capacity.
Net sales increased $231 million and $757 million for the three- and nine-month periods of 2026, respectively, compared to the corresponding periods in 2025. These increases were driven primarily by higher CT&M segment sales of $151 million and $339 million, respectively, due to increased volumes of…
Text removed vs the prior filing · source: 10-Q · 2026-08-04
Cash used in investing activities was $137 million for the six months ended July 4, 2026, compared to $201 million for the same period in 2025. This change was primarily due to lower capital expenditures of $62 million. During the six months ended July 4, 2026, Seaboard invested $198 million in prop…
Cash provided by financing activities was $133 million for the six months ended July 4, 2026, compared to $150 million for the same period in 2025. Cash flows from financing activities primarily include draws and repayments under committed and uncommitted revolving facilities held with financial ins…
For the remainder of 2026, management has budgeted capital expenditures totaling approximately $305 million, including approximately $60 million for the Power segment’s construction of EDM IV, with the remainder allocated to several individually immaterial projects across the remaining segments. Man…
Net sales increased $442 million and $526 million for the three- and six-month periods of 2026, respectively, compared to the corresponding periods in 2025. These increases were driven primarily by higher Liquid Fuels segment sales of $224 million and $300 million, respectively, due to increased env…
Operating income increased $48 million and $106 million for the three- and six-month periods of 2026, respectively, compared to the corresponding periods in 2025. These increases were primarily driven by higher Liquid Fuels segment operating income of $79 million and $142 million, respectively, refl…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice