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Mar 31, 2021
Universal Corp Q4 2021 Earnings Report
Reported annual results with net income, diluted earnings per share, and non-GAAP adjusted operating income up over 20% compared to fiscal year 2020.
Key Takeaways
Universal Corporation reported strong fiscal year 2021 results, with net income and diluted earnings per share up over 20% compared to fiscal year 2020. Strong leaf tobacco shipments, plant-based ingredients acquisitions, and favorable foreign currency comparisons contributed to the improvement.
Leaf tobacco shipments accelerated in the second half of fiscal year 2021.
The company delivered on its capital allocation strategy by acquiring Silva International.
The company benefited from positive net foreign currency comparisons.
The company announced its 51st annual dividend increase.
Universal Corp
Universal Corp
Forward Guidance
The company expects global supply for flue-cured leaf tobacco to be in line with anticipated demand and for burley leaf tobacco to be in a slight undersupply position. Freight costs are being monitored due to the COVID-19 pandemic.