--- schema_version: "secwatch.filing_event.v1" accession: "0000102037-23-000050" form_type: "8-K" ticker: "UVV" cik: "0000102037" company_name: "UNIVERSAL CORP /VA/" filed_at: "2023-08-02T23:59:59+00:00" generated_at: "2026-06-12T10:59:39.868423+00:00" event_type: "earnings" sentiment: "negative" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Universal Corp Q1 revenue up 20% to $517.7M; EPS loss of $0.08 vs profit $0.27 YoY ## Summary - 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. ## SEC filing metadata - accession: 0000102037-23-000050 - form_type: 8-K - ticker: UVV - cik: 0000102037 - company_name: UNIVERSAL CORP /VA/ - filed_at: 2023-08-02T23:59:59+00:00 - event_type: earnings - sentiment: negative - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 2.02, 5.07, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/xbrl-20230801.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000102037-23-000050 - JSON: https://secwatch.observer/filing/0000102037-23-000050.json - Plain text: https://secwatch.observer/filing/0000102037-23-000050.txt ## Key facts - Earnings Releases 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 source text: 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 % evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm - Shareholder Votes 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 source text: 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 — evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm - Shareholder Votes UNIVERSAL CORP /VA/ shareholders approved Election of Directors at the 2023-08-01 meeting. - Proposal: director election - Outcome: passed - Meeting: 2023-08-01 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000050/0000102037-23-000050-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.