Universal Corporation Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 02, 2023 at 04:19 pm EDT
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Universal Corporation reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was USD 638.48 million compared to USD 650.98 million a year ago. Net income was USD 28.13 million compared to USD 21.86 million a year ago. Basic earnings per share from continuing operations was USD 1.13 compared to USD 0.88 a year ago. Diluted earnings per share from continuing operations was USD 1.12 compared to USD 0.88 a year ago.
For the six months, sales was USD 1,156.21 million compared to USD 1,080.81 million a year ago. Net income was USD 26.06 million compared to USD 28.69 million a year ago. Basic earnings per share from continuing operations was USD 1.05 compared to USD 1.16 a year ago. Diluted earnings per share from continuing operations was USD 1.04 compared to USD 1.15 a year ago.
Universal Corporation is a global business-to-business agriproducts company. The Company is a global leaf tobacco supplier and provides plant-based ingredients to food and beverage end markets. The Company operates through two segments: Tobacco Operations and Ingredients Operations. The Tobacco Operations segment activities involve contracting, procuring, processing, packing, storing, and shipping leaf tobacco for sale to, or for the account of, manufacturers of consumer tobacco products throughout the world. Through its Ingredients Operations segment, the Company procures raw materials globally and processes the raw materials through a variety of value-added manufacturing processes to produce specialty plant-based ingredients, including fruits, vegetables, botanical extracts, and flavorings for consumer-packaged goods manufacturers, retailers, and food and beverage companies. The Company has operations in over 30 countries on five continents.