Universal Corporation Provides Financial and Operational Update for Q3 Fiscal Year 2025

On February 10, 2025, Universal Corporation (NYSE:UVV) released a press release discussing preliminary unaudited financial results for the quarter ended December 31, 2024. The Company emphasized that these results are not a comprehensive statement of the financial status for the specified period and may be subject to changes before finalization.

Regarding a previous disclosure from a Current Report on Form 8-K filed on November 12, 2024, Universal Corporation extended the delivery deadline for its quarterly financial statements for the quarter ended September 30, 2024, under a Consent related to the Credit Agreement. A subsequent Consent on February 10, 2025, further extended this deadline until June 16, 2025, for delivery of the Second Quarter 2025 Financials and financial data for the quarter ended December 31, 2024, to the respective lenders. In connection with this extension, consent fees were paid to lenders who participated in the agreement.

The Company also provided an update on an ongoing investigation initiated in August 2024 regarding embezzlement by a former senior finance employee at its Mozambique subsidiary. The investigation, aiming to examine the unauthorized payments made during fiscal years 2016 through 2025, identified approximate amounts totaling $16.7 million. Universal Corporation is actively collaborating with external consultants to conclude the investigation promptly, although no material adjustments to financial statements or significant impacts are expected for fiscal year 2025. Recovery solutions, including through insurance, are being pursued.

In the sustainability domain, Universal Corporation released its 2024 Sustainability Report on December 19, 2024, showcasing progress in energy efficiency, supply chain resiliency, and community partnerships. Notably, by transitioning to cleaner fuels, the Company has achieved a significant reduction in greenhouse gas emissions from its operations.

Universal Corporation postponed its third-quarter earnings release and investor conference call to account for additional time needed to finalize the Form 10-Q for the quarter ended December 31, 2024. Future announcements will be made to schedule these events. The Company’s commitment to transparency and proactive compliance with regulatory obligations remains paramount.

Concluding the press release, Universal Corporation reiterated its dedication to sustainable growth, operational excellence, and efficient customer service across its tobacco and ingredients business segments. For detailed financial figures and segment-specific performance highlights, readers are advised to refer to the complete press release available on Universal Corporation’s official website.

This press release contains forward-looking information, emphasizing uncertainties, risks, and factors that could impact actual results. Investors are advised to consider such factors when evaluating future performance expectations and updates from Universal Corporation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Universal’s 8K filing here.

About Universal

Universal Corporation processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments, Tobacco Operations; and Ingredients Operations. It is involved in the procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.