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Sep 30, 2023
Universal Corp Q2 2024 Earnings Report
Reported second quarter results with increased operating income and improved gross profit margins.
Key Takeaways
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.
Operating income for the quarter ended September 30, 2023, increased by 46% compared to the same quarter in the prior fiscal year.
Gross profit margins rebounded in the first half of fiscal year 2024.
Tobacco Operations segment delivered strong performance due to robust demand for leaf tobacco.
Ingredients Operations segment saw some supply chain normalization, leading to better results compared to the first quarter of fiscal year 2024.
Revenue by Segment
Forward Guidance
The company expects tobacco shipments to be strongly weighted to the second half of fiscal year 2024 and uncommitted tobacco inventory levels to remain low.
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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