Universal Corp Earnings Reports

Universal Corporation achieved solid results for the third quarter of fiscal year 2025, with strong performance in its Tobacco Operations segment due to robust customer demand and successful procurement efforts, while the Ingredients Operations segment performed in line with strategic plans with new product sales offsetting pricing pressures.

Universal Corporation reported a 15% increase in revenue to $597.1 million and a 56% increase in operating income to $17.2 million for the quarter ended June 30, 2024, compared to the same quarter last fiscal year. The increase in revenue was driven by higher sales volumes and prices in both the Tobacco and Ingredients Operations segments. Net income increased by $2.2 million, reaching $0.1 million, or $0.01 per diluted share.

Universal Corporation reported a strong fiscal year 2024, driven by favorable product mix, strong customer demand, and larger crops in Africa. The company is managing tight tobacco supply and elevated green tobacco prices by leveraging its global footprint and financial flexibility. The ingredients business is progressing with its expansion project and investing in commercial sales and research and development.

Universal Corporation reported strong financial results for Q3 2024, with operating income and net income up 13% and 28%, respectively, compared to Q3 2023. The tobacco business performed well due to a favorable product mix and strong customer demand. The company is also making progress in expanding its ingredients business.

Universal Corporation reported a strong second quarter with a 46% increase in operating income compared to the same period last year. The Tobacco Operations segment performed well due to robust demand and favorable product mix, while the Ingredients Operations segment saw improved results from supply chain normalization.

Universal Corporation reported a net loss of $(2.1) million, or $(0.08) per diluted share, for the quarter ended June 30, 2023, compared with net income of $6.8 million, or $0.27 per diluted share, for the quarter ended June 30, 2022. Consolidated revenues increased by $87.9 million to $517.7 million for the three months ended June 30, 2023, compared to the same period in fiscal year 2023, on higher tobacco sales prices and a favorable product and geographic mix in our Tobacco Operations segment.

Universal Corporation reported increased operating income and net income for fiscal year 2023, driven by strong tobacco shipments and sales volumes, as well as a favorable legal ruling in Brazil. The company also announced its 53rd annual common dividend increase, demonstrating its commitment to returning value to shareholders.

Universal Corporation reported strong results for the quarter ended December 31, 2022, driven by increased tobacco shipments and prices. Consolidated revenues increased by $142.4 million to $795.0 million, and net income increased to $41.7 million, or $1.67 per diluted share.

Universal Corporation reported a strong first half of fiscal year 2023, with consolidated revenues increasing by $276.8 million to $1.1 billion. Operating income increased by $10.7 million to $51.2 million, and net income increased to $28.7 million, or $1.15 per diluted share.

Universal Corporation reported a revenue increase of $79.8 million, reaching $429.8 million for the quarter ended June 30, 2022, compared to the same period last year. The increase is attributed to higher carryover tobacco sales volumes and prices, as well as the inclusion of Shank's in the Ingredients Operations segment. However, the adjusted diluted earnings per share decreased by $0.05 to $0.25, compared to $0.30 for the quarter ended June 30, 2021.

Universal Corporation's fiscal year 2022 results were comparable to fiscal year 2021, with strong performance from the Ingredients Operations segment offsetting challenges in the Tobacco Operations segment. Consolidated revenues increased by $29.4 million to $647.0 million for the quarter ended March 31, 2022.

Universal Corporation reported a net income of $34.9 million, or $1.40 per diluted share, for the quarter ended December 31, 2021, compared to a net income of $33.3 million, or $1.34 per diluted share, for the quarter ended December 31, 2020. Consolidated revenues decreased by $20.3 million to $652.6 million.

Universal Corporation reported improved results for the first six months of fiscal year 2022, driven by strong performance in tobacco operations and solid contributions from ingredients operations, including the acquisition of Silva International, Inc. Net income for the quarter ended September 30, 2021, was $19.5 million, or $0.78 per diluted share, compared with $7.5 million, or $0.30 per diluted share, for the quarter ended September 30, 2020.

Universal Corporation's Q1 2022 results showed improvement in both Tobacco Operations and Ingredients Operations. Consolidated revenues increased by $34.2 million to $350.0 million. Net income was $6.4 million, or $0.26 per diluted share.

Universal Corporation reported strong fiscal year 2021 results, with net income and diluted earnings per share up over 20% compared to fiscal year 2020. Strong leaf tobacco shipments, plant-based ingredients acquisitions, and favorable foreign currency comparisons contributed to the improvement.

Universal Corporation reported increased net income and operating income for the quarter ended December 31, 2020, driven by strong tobacco shipment volumes and the addition of businesses acquired in the Ingredients Operations segment. The company's strategic investments in its plant-based ingredients platform are expected to generate between 10% and 20% of EBITDA in fiscal year 2022.

Universal Corporation reported a decrease in net income and operating income for the second quarter of fiscal year 2021, primarily due to COVID-19 related timing factors impacting tobacco shipments and processing. The company is optimistic about meeting adjusted operating income targets for the fiscal year, excluding acquisitions, barring unforeseen shipping delays or COVID-19 related uncertainties.

Universal Corporation reported a net income of $7.3 million, or $0.29 per diluted share, for the first quarter of fiscal year 2021, compared to a net income of $2.1 million, or $0.08 per diluted share, for the first quarter of fiscal year 2020. Revenues increased by $18.9 million, or 6%, to $315.8 million.

Universal Corporation reported a decrease in net income and operating income for the fourth quarter of fiscal year 2020, compared to the same period in the prior year. The decline was attributed to lower sales volumes, unfavorable currency comparisons, and the impact of the COVID-19 pandemic.

Universal Corporation reported a decrease in net income for the third quarter of fiscal year 2020, with net income at $26.0 million, or $1.04 per diluted share, compared to $28.1 million, or $1.11 per diluted share, for the prior year's third fiscal quarter. Consolidated revenues also decreased by $131.1 million to $505.0 million.