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Sep 30, 2022
Universal Corp Q2 2023 Earnings Report
Reported strong demand for tobacco and plant-based ingredients, with increased tobacco shipments and higher results in Ingredients Operations.
Key Takeaways
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.
Demand for tobacco and plant-based ingredients products remains very strong.
Shipping availability improved, particularly in Brazil, enabling increased tobacco shipments.
Strategic investment in plant-based ingredients platform diversifies earnings and delivers higher results.
The company expects a considerable reduction in debt levels over the next two fiscal quarters.
Revenue by Segment
Forward Guidance
Universal is focused on integrating sustainability into all aspects of its business and reducing global emissions. They have engaged a third party to develop a low carbon transition plan and prepare for updated guidance on meeting future net zero targets.
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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