UVV
Universal Corporation54.49
-0.21-0.38%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Q&A details headwinds, tobacco resilience
Q&A elaborated on Ingredients headwinds, pinpointing pronounced tariff impacts—direct on imports, indirect via customer sales—and CPG softness hitting traditional products hardest, yet YTD sales rose 7% from new offerings. Tobacco held firm versus an extraordinary prior-year comp, ranking second-highest revenues and income over four years despite pricing dips and write-downs. No FY26 margin guide; Q4 mix will decide. Management eyed next-gen tobacco supply chain participation via HNB and flavors, plus Ingredients cross-selling wins. Inventory stable at 102 million kilos. Analysts probed breakdowns and surprises—bigger headwind persistence—but got qualitative responses. Tobacco margins hinge on Q4 shipments. Confident tone; investors watch Ingredients scaling.
Key Stats
Market Cap
1.36BP/E (TTM)
12.27Basic EPS (TTM)
4.44Dividend Yield
0.06%Recent Filings
10-Q
Q3 FY2026 results
Universal's Q3 FY2026 sales fell 8% y/y to $861.3M while operating income dropped 21% y/y to $82.0M (derived), mainly from lower tobacco volumes and $6.2M higher inventory writedowns on dark air-cured tobacco, yet gross margins held at 18.5% amid favorable FX swings. Diluted EPS slid 44% y/y to $1.32 on 25.2M shares, matching calculations; YTD trends mirror quarterly pressures with tobacco down 3% y/y on volumes but ingredients up 7% y/y. Cash dipped to $85.2M on seasonal working capital, offset by a new $1.4B credit facility (Dec 2025) with $780M revolver availability and term loans to 2032 at effective rates to 6.13%; total debt $1.08B. New $100M buyback authorized. Inventory controls remain a risk.
8-K
CFO transition announced
Universal elected Steven S. Diel as Senior VP and CFO effective April 1, 2026, succeeding retiring Johan C. Kroner, who stays through July 1 for transition. Diel, 54, brings internal expertise from leading Ingredients CFO and $350M acquisitions. Q3 revenue fell 8% to $861M, operating income dropped 21% to $82M versus prior year, yet tobacco demand holds firm. Smooth handover aids finance stability.
8-K
CFO hire withdrawn abruptly
8-K
CFO appointment announced
Universal Corporation appointed Anubhav Mittal as Senior Vice President and CFO effective February 17, 2026, succeeding retiring CFO Johan Kroner, who stays on as SVP until July 1. Mittal, ex-CFO of ADM's $8 billion Nutrition unit, gets $650,000 base, $500,000 target bonus, $850,000 LTIs, $2 million RSUs, and $600,000 signing bonus. Smooth transition secured. Leadership bolsters strategy execution.
8-K
New $1.4B credit facility secured
Universal Corporation entered a new $1.4B unsecured credit agreement on December 9, 2025, featuring $780M five-year revolving, $275M five-year Term A-1, and $345M seven-year Term A-2 facilities, replacing the prior agreement terminated that day after repaying its debt. Proceeds fund general corporate needs, acquisitions, investments, and working capital. Leverage covenant caps at 3.00x, rising to 3.25x post-material acquisition.
IPO
Employees
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