Universal Corp Q2 operating income up 30% to $66.3M; EPS down 10% to $1.04

UNIVERSAL CORP /VA/

2024-Q2 EPS reported $1.04 revenue$1,152,177,000

Six-month sales $1,156.2M (+7% YoY); gross margin improved to 18.9% from 17.6%.
Tobacco ops op income $61.3M (+46% YoY) on strong demand; uncommitted inventory low at 12%.
Ingredients ops op income $2.8M (-69% YoY); demand stabilizing but still soft.
Diluted EPS as reported $1.04 (-10%); adjusted diluted EPS $1.13 (flat). Interest expense up $13M.
Net debt down ~$70M vs prior year; dividend declared $0.80/share payable Feb 5, 2024.

item 2.02 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

UNIVERSAL CORP /VA/ reported financial results for fiscal year 2024 for the quarter and six months ended September 30, 2023.

Period: fiscal year 2024 for the quarter and six months ended September 30, 2023
Result: reported results

Exact text from the filing

Universal Corporation (the “Company”) issued a press release on November 2, 2023, discussing its results for the quarter ended September 30, 2023. The press release is attached as Exhibit 99.1 and is incorporated by reference into this Item 2.02.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

UNIVERSAL CORP /VA/: Amended and restated bylaws to implement universal proxy rules and other procedural/disclosure requirements for shareholder nominations and proposals (effective 2023-11-01).

Change: bylaw amendment
Effective: 2023-11-01

Exact text from the filing

The Bylaws were amended to clarify and implement certain procedural and disclosure requirements for shareholders nominating individuals for election or reelection as directors at the Company’s annual or special meetings of shareholders in connection with the “universal proxy” rules adopted by the Securities and Exchange Commission pursuant to Rule 14a-19 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

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41 earnings releases filed in the last 30 days. Browse all earnings releases →

UNIVERSAL CORP /VA/ filing history →

Source: SEC EDGAR

accession 0000102037-23-000057

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