UNIVERSAL CORP /VA/

Universal Corp reported a net loss attributable to the company of $5.02 million for the three months ended June 30, 2026, a significant decline from a net income of $8.50 million in the prior year period. Sales and other operating revenues decreased by 11.8% to $523.78 million. The company also declared a quarterly dividend of $0.83 per share and has $97 million remaining on its stock repurchase program.

Universal Corporation reported a significant decline in its first fiscal quarter 2027 results. Revenue decreased 12% to $523.8 million, operating income dropped 93% to $2.3 million, and diluted earnings per share were $(0.20), down 159% year-over-year. The company attributed the declines to lower tobacco sales volumes and prices, and persistent market headwinds in its ingredients segment. Additionally, at its 2026 Annual Meeting, shareholders elected directors, approved executive officer compensation, and ratified Ernst & Young LLP as the independent registered public accounting firm.

Universal Corporation announced that J. Patrick O’Keefe, its Vice President, Ingredients, and Senior Vice President, Universal Ingredients, Inc., intends to retire. The company plans to engage an executive search firm to find a successor. Mr. O'Keefe will remain in his current role until a replacement is appointed and will assist with the transition.

Universal Corporation announced its Annual Meeting of Shareholders to be held on August 4, 2026. Key proposals include the election of three directors, an advisory vote on executive compensation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm. The Board will see the retirement of Thomas H. Johnson and a reduction in its size to nine members. The company also highlighted its 56th consecutive annual dividend increase.

Universal Corp reported consolidated revenues of approximately $2.9 billion and total operating income of $168.5 million for fiscal year 2026. The company operates through two segments: Tobacco Operations, where it is the leading global leaf tobacco supplier, and Ingredients Operations, which provides specialty plant-based ingredients. Universal Corp employs over 25,000 people globally and is committed to sustainability, aiming for net-zero greenhouse gas emissions by 2050.

Universal Corporation reported its financial results for the fiscal year and fourth quarter ended March 31, 2026. For fiscal year 2026, diluted earnings per share decreased by 66% to $1.30, and operating income fell 28% to $168.5 million. Fourth quarter 2026 saw a diluted loss per share of $1.73 and an operating loss of $15.0 million, primarily due to a $41.1 million non-cash goodwill impairment charge related to its Universal Ingredients-Shank’s operation and $52.0 million in inventory write-downs. Despite these impacts, the company noted solid execution in its Tobacco Operations and revenue growth in Ingredients Operations, and expects uncommitted tobacco inventories to return to target in fiscal year 2027.