Universal Corporation (UVV) Q4 2024 Earnings Report

Universal Corporation (UVV) reported robust financial performance for the fourth quarter of 2024, with a net income of $40.3 million, equating to $1.61 per diluted share. The year witnessed strong demand in the tobacco segment bolstered by favorable crop conditions in Africa, although higher green tobacco prices and tight supply affected operating efficiencies. The company highlighted progress in its ingredients business, with ongoing investments aimed at expanding its capacity and innovative product offerings. However, fiscal year-end total debts rose due to increased working capital requirements stemming from accelerated purchases necessary to maintain product supply. Management expects operational improvements to hit the bottom line in the coming fiscal year, contributing to stronger margins.