UNIVERSAL CORP /VA/ (UVV): debt financing — Universal Corp. reports preliminary Q3 EPS $2.27, delays 10-Q due to Mozambique embezzlement (now $16.7M)

UNIVERSAL CORP /VA/

Preliminary Q3 FY2025: revenue $937.2M, operating income $100.7M, net income $57.1M, diluted EPS $2.27.
Embezzlement total revised to $16.7M (FY2016-2025); prior disclosure was $7M (FY2022-2025).
Company expects material weaknesses in internal controls; Q2 and Q3 FY2025 10-Qs delayed.
Credit agreement waiver extended to June 16, 2025; consent fee of 0.05% paid to lenders.
Management does not expect material impact on FY2025 results or restatement of prior financial statements.

item 2.02 item 2.04 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

UNIVERSAL CORP /VA/ reported a default on credit facility with JPMorgan Chase Bank, N.A., as Administrative Agent.

Instrument: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Event: default

Exact text from the filing

On February 10, 2025, the Company entered into a further Consent ("February Consent") with respect to the Credit Agreement that provided for, among other things, an extension until June 16, 2025, for delivery by the Company of the Second Quarter 2025 Financials and the financials for the quarter ended December 31, 2024.

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UNIVERSAL CORP /VA/ filing history →

Source: SEC EDGAR

accession 0001104659-25-010952

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