---
schema_version: "secwatch.filing_event.v1"
accession: "0000102037-23-000057"
form_type: "8-K"
ticker: "UVV"
cik: "0000102037"
company_name: "UNIVERSAL CORP /VA/"
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-08T23:05:02.450828+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000102037-23-000057
- form_type: 8-K
- ticker: UVV
- cik: 0000102037
- company_name: UNIVERSAL CORP /VA/
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/102037/000010203723000057/0000102037-23-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/102037/000010203723000057/xbrl-20231101.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000102037-23-000057
- JSON: https://secwatch.observer/filing/0000102037-23-000057.json
- Plain text: https://secwatch.observer/filing/0000102037-23-000057.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000057/0000102037-23-000057-index.htm
- Governance Changes
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/102037/000010203723000057/0000102037-23-000057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.