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Universal (UVV) investor relations material
Universal Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Operating income rose to $33.8M, nearly doubling year-over-year, driven by a 147% increase in Tobacco Operations segment income, despite a slight revenue decline to $594M.
Tobacco Operations benefited from a favorable product mix and higher prices, offsetting lower sales volumes and reduced carryover shipments.
Ingredients Operations revenue grew 5% to $89.1M with higher sales volumes, but segment income fell 42% due to less favorable mix, tariff impacts, and higher fixed costs.
Net income attributable to shareholders was $8.5M ($0.34/share), up from $0.1M ($0.01/share) year-over-year; adjusted net income was $9.6M ($0.38/share).
Uncommitted tobacco inventory remained low at 11% as of June 30, 2025, reflecting strong customer demand.
Financial highlights
Sales and operating revenues were $593.8M, down $3.3M year-over-year, mainly from lower carryover crop tobacco sales.
Gross profit margin improved to 19.2% from 16.1% year-over-year.
Operating income was $33.8M, up from $17.2M year-over-year, driven by tobacco segment mix.
Cost of goods sold decreased 4% to $479.6M, mainly due to lower sales volumes and product mix.
Interest expense declined 14% to $17.8M, reflecting lower interest rates.
Outlook and guidance
Flue-cured and burley tobacco crop sizes (excluding China) are expected to increase by 25% and 45%, respectively, in FY2026, leading to likely oversupply by year-end.
Margin pressure anticipated in tobacco segment due to larger global crops and potential price declines, but higher volumes may offset per-unit costs.
Focus remains on organic growth in Ingredients Operations and maximizing tobacco business performance for fiscal 2026.
Capital expenditures expected to be $45–$55M over the next twelve months for maintenance and growth projects.
Available capital resources are expected to exceed working capital and capital expenditure needs over the next year.
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