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Dec 31, 2021
Universal Corp Q3 2022 Earnings Report
Reported solid results driven by strong performance in the Ingredients Operations segment, bolstered by the acquisition of Shank’s Extracts, Inc.
Key Takeaways
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's operations produced solid results in the nine months ended December 31, 2021, with strong performance from the Ingredients Operations segment.
The acquisition of Shank’s Extracts, Inc. added valuable capabilities to the Ingredients Operations segment, including flavors and extracts, custom packaging, bottling, and product development.
Tobacco shipments were impacted by timing variations and logistical challenges due to continued limitations in worldwide shipping availability stemming from the ongoing COVID-19 pandemic.
Inflationary pressures, including higher freight and labor expenses, have driven up costs in both the tobacco and ingredients operations.
Universal Corp
Universal Corp
Universal Corp Revenue by Segment
Revenue by Segment
Tobacco Operations Revenue
CapyFin.comIngredients Operations Revenue
CapyFin.comRevenue & Expenses
Visualization of income flow from segment revenue to net income