8-K
filed August 2, 2023, 7:59 PM ET
ticker UVV
CIK 0000102037
earnings
confidence high
sentiment negative
materiality 0.70
Universal Corp Q1 revenue up 20% to $517.7M; EPS loss of $0.08 vs profit $0.27 YoY
UNIVERSAL CORP /VA/
2024-Q1 EPS reported
-$0.08
revenue$516,370,000
- Revenue $517.7M (+20% YoY); diluted EPS loss $0.08 vs $0.27 profit in prior year.
- Tobacco ops income $8.9M (+9% YoY); ingredients ops loss $2.0M vs profit $4.6M (down 144%).
- Interest costs more than doubled on higher rates; debt balances relatively flat vs prior year.
- Quarterly dividend $0.80 per share declared, payable Nov 6, 2023 to holders of record Oct 9, 2023.
- Thomas H. Johnson appointed Lead Independent Director effective August 1, 2023.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
UNIVERSAL CORP /VA/ reported the quarter ended June 30, 2023 results: revenue $ 517.7, net income $ (0.08) per diluted share (as reported), EPS $ (0.08).
- Period
- the quarter ended June 30, 2023
- Revenue
- $ 517.7
- Net income
- $ (0.08) per diluted share (as reported)
- EPS
- $ (0.08)
- Result
- reported results
Exact text from the filing
FINANCIAL HIGHLIGHTS Three Months Ended June 30, Change (in millions of dollars, except per share data) 2023 2022 $ % Consolidated Results Sales and other operating revenue $ 517.7 $ 429.8 $ 87.9 20 % Cost of goods sold $ 431.2 $ 350.1 $ 81.1 23 % Gross Profit Margin 16.7 % 18.5 % -183 bps Selling, general and administrative expenses $ 75.5 $ 66.5 $ 9.0 14 %
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
UNIVERSAL CORP /VA/ shareholders approved Approval of a non-binding advisory resolution approving the compensation of the Company’s named executive officers at the 2023-08-01 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-08-01
Exact text from the filing
Proposal 2 - Approval of a non-binding advisory resolution approving the compensation of the Company’s named executive officers. For Against Abstain Broker Non-Votes 18,844,407 415,083 86,711 2,641,753
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
UNIVERSAL CORP /VA/ shareholders approved Ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2024 at the 2023-08-01 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-08-01
Exact text from the filing
Proposal 4 - Ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2024. For Against Abstain Broker Non-Votes 21,714,659 215,952 57,343 —
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
UNIVERSAL CORP /VA/ shareholders approved Approval of the Universal Corporation 2023 Stock Incentive Plan at the 2023-08-01 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-08-01
Exact text from the filing
Proposal 5 - Approval of the Universal Corporation 2023 Stock Incentive Plan. For Against Abstain Broker Non-Votes 18,562,399 716,074 67,728 2,641,753
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
UNIVERSAL CORP /VA/ shareholders approved A non-binding advisory vote on the frequency (every one, two or three years) of the non-binding advisory vote on the compensation of the Company's named executive officers at the 2023-08-01 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-08-01
Exact text from the filing
Proposal 3 - A non-binding advisory vote on the frequency (every one, two or three years) of the non-binding advisory vote on the compensation of the Company's named executive officers. 1 Year 2 Years 3 Years Abstain Broker Non-Votes 17,231,911 41,006 2,023,495 49,789 2,641,753
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
UNIVERSAL CORP /VA/ shareholders approved Election of Directors at the 2023-08-01 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-08-01
Exact text from the filing
Proposal 1 - Election of Directors. For Withheld Broker Non-Votes George C. Freeman, III (two year term) 19,142,194 204,007 2,641,753 Lennart R Freeman (two year term) 19,115,861 230,340 2,641,753 Thomas H. Johnson (three year term) 15,289,839 4,056,362 2,641,753 Arthur J. Schick, Jr. (three year term) 19,209,738 136,463 2,641,753 Jacqueline T. Williams (three year term) 18,961,772 384,429 2,641,753
View on SEC.gov
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