secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL CORP /VA/ (UVV)
CIK:        0000102037
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001104659-24-116429
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 2.04, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Universal Corp Q2 prelim EPS $1.10; discloses ~$7M embezzlement, delays 10-Q filing
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- Preliminary Q2 revenue $710.8M, operating income $70.7M, diluted EPS $1.10.
- Tobacco ops rev $630.2M, op income $79.3M; Ingredients ops rev $80.6M, op income $1.3M.
- Embezzlement by former senior finance employee at Mozambique subsidiary; ~$7M unauthorized payments FY2022-2025, investigation ongoing.
- Delayed 10-Q filing; expects NYSE delinquency notice with six-month cure period; extended debt covenant deadline to Dec 31, 2024.
- Restructuring costs $10.6M from European sheet consolidation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/102037/000110465924116429/0001104659-24-116429-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/102037/000110465924116429/tm2427989d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-116429

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