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Universal (UVV) investor relations material
Universal Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 Nov, 2025
Executive summary
Revenue increased 3% for the first half and 6% for the second quarter of fiscal 2026, driven by higher tobacco and ingredients sales volumes.
Net income attributable to shareholders rose 64% for the first half and 32% for the quarter, reflecting improved operating results and lower tax rates.
Both Tobacco and Ingredients segments delivered strong operational execution, with firm customer demand and effective management despite margin pressures from FX, product mix, and fixed costs.
Sustainability initiatives advanced, including increased use of clean electricity and investments in renewable energy at multiple sites.
Board leadership strengthened with the appointment of Gregory A. Trojan.
Financial highlights
First half consolidated revenue was $1.35 billion, up $40 million year-over-year; second quarter revenue was $754 million, up $43 million.
First half operating income rose $16 million to $102 million; second quarter operating income was $68 million, down $1 million due to FX, inventory write-downs, and provisions for farmer advances.
Net income attributable to shareholders was $42.7 million for the first half, up 64% year-over-year; diluted EPS was $1.70, up from $1.04.
Gross margin for the first half was 18.8%, up 50 bps year-over-year; second quarter margin was 18.5%, down 160 bps.
Net debt at September 30, 2025, was $1.07 billion, down $52 million year-over-year; net debt/net capitalization ratio improved to 42%.
Outlook and guidance
Customer demand for tobacco remains firm, but supply is expected to move to an oversupply position by fiscal year-end; management is confident in managing the shift.
Ingredients segment is well-positioned for future growth, focusing on organic expansion and new product development despite market and tariff headwinds.
Capital expenditures for the next twelve months are expected to be $45–$55 million, focused on maintenance and growth projects.
Uncommitted inventory expected to remain within target range for the full year.
Tobacco oversupply mitigation strategy?
Ingredients segment: CPG weakness & tariff impact?
Clean energy impact on operational efficiency?
Tobacco oversupply: H2 margin/pricing outlook
Ingredients: Scale-up timeline for profitability
Working capital strategy with large tobacco crops
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Q3 20269 Feb, 2026
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Frequently asked questions
Universal Corporation is a global agricultural company specializing in the procurement, processing, and supply of leaf tobacco. The company works with farmers worldwide to source, process, and sell tobacco to manufacturers of consumer tobacco products. In addition to its core tobacco business, Universal has diversified into plant-based ingredients and other agricultural products through its subsidiary businesses. The company is headquartered in Richmond, Virginia, and its shares are listed on the NYSE (New York Stock Exchange).
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