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Mar 31, 2023
Universal Corp Q4 2023 Earnings Report
Reported annual results with strong tobacco shipments and continued solid performance in the plant-based ingredients platform.
Key Takeaways
Universal Corporation reported increased operating income and net income for fiscal year 2023, driven by strong tobacco shipments and sales volumes, as well as a favorable legal ruling in Brazil. The company also announced its 53rd annual common dividend increase, demonstrating its commitment to returning value to shareholders.
Fiscal year 2023 saw strong tobacco shipments due to eased logistical constraints.
The plant-based ingredients platform continued to perform well, with plans for manufacturing expansion.
Operating income and net income for fiscal year 2023 increased by 13% and 43%, respectively, compared to fiscal year 2022.
A favorable ruling on a legal case in Brazil resulted in $5.0 million of interest income and a $24.2 million net income tax benefit.
Universal Corp
Universal Corp
Universal Corp Revenue by Segment
Revenue by Segment
Tobacco Operations Revenue
CapyFin.comIngredients Operations Revenue
CapyFin.com Forward Guidance
Worldwide flue-cured and burley tobacco crops to be grown in our fiscal year 2024 are forecast to be larger than those produced in our fiscal year 2023, but we still expect flue-cured and burley tobaccos to remain in undersupply positions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income