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Jun 30, 2022
Universal Corp Q1 2023 Earnings Report
Reported increased revenues due to higher carryover tobacco sales and the acquisition of Shank's, but experienced a slight decrease in adjusted diluted earnings per share due to restructuring and impairment costs.
Key Takeaways
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.
Consolidated revenues increased by $79.8 million to $429.8 million, a 23% increase compared to the same period in fiscal year 2022.
Net income for the quarter ended June 30, 2022, was $6.8 million, or $0.27 per diluted share, compared with $6.4 million, or $0.26 per diluted share, for the quarter ended June 30, 2021.
Tobacco Operations segment revenues increased by $54.2 million to $348.1 million, while operating income decreased by $0.8 million to $8.1 million.
Ingredients Operations segment revenues increased by $25.6 million to $81.8 million, and operating income increased by $0.2 million to $4.6 million.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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