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Jun 30, 2020
Universal Corp Q1 2021 Earnings Report
Universal Corporation reported net income and increased revenues for the first quarter of fiscal year 2021.
Key Takeaways
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.
Net income for the first quarter of fiscal year 2021 was $7.3 million, or $0.29 per diluted share.
Revenues for the quarter ended June 30, 2020, increased by $18.9 million, or 6%, to $315.8 million.
Operating income for the quarter ended June 30, 2020, increased by $1.0 million to $8.5 million.
The company is projecting that sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year due to COVID-related processing slowdowns and later customer-mandated shipment timing.
Universal Corp
Universal Corp
Forward Guidance
The company is projecting that sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing and expects continued volatility in foreign currency exchange rates during fiscal year 2021.