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Financial Data and Key Metrics Changes - For the nine months ended December 31, 2025, consolidated revenue was $2.21 billion, a decrease from $2.25 billion in the prior year period [8] - Operating income was $183.4 million compared to $190 million for the same period last year [8] - Net income was $75.9 million versus $85.7 million for the same period last year [8] - For the third quarter of fiscal year 2026, consolidated revenue was $861.3 million, down from $937.2 million in the same quarter of last year [9] - Operating income was $82 million compared to $104.1 million for the third quarter of the last fiscal year [9] - Net income was $33.2 million versus $59.6 million for the third quarter of last fiscal year [9] Business Segment Data and Key Metrics Changes - In the tobacco operations segment, revenue was $1.94 billion compared to $2 billion in the prior year period, with segment operating income at $185 million versus $194.4 million [8] - In the ingredients operations segment, revenue was $265.2 million compared to $249 million in the prior year period, but segment operating income fell to $1.4 million from $7.9 million [8] - For the third quarter, tobacco operations segment revenue was $779.9 million compared to $853.9 million in the same quarter last year, with segment operating income at $84 million versus $102.6 million [9] - Ingredients operations segment revenue was $81.3 million compared to $83.3 million in the third quarter last year, with a segment operating loss of $0.1 million compared to an operating income of $3.7 million in the same quarter last year [9] Market Data and Key Metrics Changes - The company noted that customer demand for tobacco styles remained firm, transitioning into an oversupply environment [4] - The ingredients segment faced market headwinds due to broader softness in the consumer packaged goods sector, which affected sales and margins [5][6] Company Strategy and Development Direction - The company is focused on diversifying into food and beverage ingredients, having made three acquisitions in 2020 and 2021 to build a broad product portfolio [11] - Investments have been made in commercial sales, R&D, and production capabilities to support the growth of Universal Ingredients [12] - The company aims to leverage its new resources to convert customer interest into sales and improve margins [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the transition to an oversupply environment in the tobacco market, emphasizing the company's resilience [11] - The company is committed to scaling its ingredients business despite inflationary pressures and tariff impacts [13] - Management highlighted progress in sustainability initiatives, including a significant increase in renewable electricity consumption [14] Other Important Information - The company refinanced and upsized its corporate credit facility, significantly expanding liquidity and improving financial flexibility [10] - As of December 31, 2025, net debt was $995 million compared to $945 million at the same point last year [10] Q&A Session Summary Question: Impact of tariffs and market weakness on ingredients business - Management noted that market headwinds, product mix, and higher fixed costs have impacted the ingredients segment, with inflationary pressures affecting customer demand and pricing [18][19][22] Question: Performance of the tobacco segment - Management indicated that despite a solid quarter, comparisons to last year's extraordinary results are challenging, but current year-to-date numbers remain strong [24][25] Question: Customer inventory levels and duration positions - Management stated that customer inventory levels vary, with some customers restoring durations while others maintain tighter durations [34] Question: Revenue breakdown by volume, price, and new customer wins - Management did not provide a specific breakdown but acknowledged that product mix impacts revenue [38] Question: Anticipation of pricing catching up with higher costs - Management expressed optimism that continued sales could help mitigate the impact of higher-cost inventory in the coming quarters [39] Question: Inventory write-downs in the ingredients segment - Management confirmed some write-downs occurred, primarily in the dark air-cured space [40] Question: CFO announcement clarification - Management clarified that the previous CFO offer was withdrawn, and a new CFO was appointed [42] Question: Tax rate guidance - Management indicated that the tax rate is expected to be between 28% and 32%, slightly higher due to recent changes in certain countries [49]

Universal (NYSE:UVV) Q3 2026 Earnings call February 09, 2026 05:00 PM ET Company ParticipantsJohan Kroner - CFOPreston Wigner - Chairman, President, and CEOWushuang Ma - VP and TreasurerConference Call ParticipantsAnn Gurkin - SVP and Equity Research AnalystDaniel Harriman - Equity Research AnalystOperatorStanding by. My name is Jordan, and I'll be your conference operator today. At this time, I'd like to welcome everyone to the Universal Corporation Third Quarter Fiscal Year 2026 Earnings Call. All lines h ...

Financial Data and Key Metrics Changes - For the nine months ended December 31, 2025, consolidated revenue was $2.21 billion, a decrease from $2.25 billion in the prior year period. Operating income was $183.4 million compared to $190 million last year, and net income was $75.9 million versus $85.7 million last year [8] - For the third quarter of fiscal year 2026, consolidated revenue was $861.3 million, down from $937.2 million in the same quarter last year. Operating income was $82 million compared to $104.1 million last year, and net income was $33.2 million versus $59.6 million last year [9] Business Segment Data and Key Metrics Changes - In the tobacco operations segment, revenue was $1.94 billion compared to $2 billion in the prior year period, with segment operating income at $185 million versus $194.4 million last year [8] - In the ingredients operations segment, revenue was $265.2 million compared to $249 million in the prior year period, but segment operating income fell to $1.4 million from $7.9 million last year [8] Market Data and Key Metrics Changes - The tobacco market is transitioning into an oversupply environment, with customer demand remaining firm for most tobacco styles after years of undersupply [4] - The ingredients segment faced market headwinds due to broader softness in the consumer packaged goods sector, which affected sales and margins [5] Company Strategy and Development Direction - The company is focused on diversifying into food and beverage ingredients, having made three acquisitions in 2020 and 2021 to build a broad product portfolio and establish customer relationships [11] - Investments have been made in commercial sales, R&D, and production capabilities to support the growth of Universal Ingredients, with a focus on innovative solutions-based products [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the evolving market dynamics and emphasized the importance of maintaining strong performance under all conditions [11] - The company is optimistic about increasing sales to absorb fixed costs from growth investments in the ingredients business, despite facing inflationary pressures and tariff impacts [12][21] Other Important Information - The company refinanced and upsized its corporate credit facility, significantly expanding liquidity and improving financial flexibility [6][10] - A new CFO, Steven S. Diel, was appointed, effective April 1st, bringing strong financial and strategic expertise to the role [6] Q&A Session Summary Question: Impact of tariffs and market weakness on ingredients business - Management noted that market headwinds, product mix, and higher fixed costs have impacted the ingredients segment, with inflationary pressures affecting customer demand and pricing [17][18] Question: Performance of the tobacco segment - Management indicated that while sales were down compared to last year's extraordinary results, the current year's performance remains strong, with revenues and operating income only slightly down from last year [24][25] Question: Future margin expectations for the tobacco segment - Management stated that margins will depend on the mix and timing of shipments, with some higher-margin tobacco expected to ship in the fourth quarter [33][34] Question: Customer inventory levels - Management mentioned that customer inventory levels are mixed, with some customers restoring their inventory durations while others maintain tighter durations [35] Question: Inventory write-downs in the ingredients segment - Management confirmed that there were some write-downs primarily in the dark air-cured space, but these were standard practice [41][42] Question: CFO announcement clarification - Management clarified that the previous CFO offer was withdrawn, and the new CFO announcement was made to reflect the current leadership change [43][44] Question: Participation in next-generation supply chain for tobacco - Management expressed interest in being part of the supply chain for new tobacco-based products and leveraging Universal Ingredients capabilities [47] Question: Cross-selling successes - Management highlighted ongoing efforts to leverage investments in commercial sales and cross-sell products within the Universal Ingredients platform [49] Question: Tax rate guidance - Management indicated that the tax rate is expected to be between 28% and 32%, slightly higher due to recent changes in certain countries [50]

Market Analysis by covering: CNA Financial Corporation, Universal Corporation, Monday.Com Ltd. Read 's Market Analysis on Investing.com ...

Universal Corp. (UVV) came out with quarterly earnings of $1.35 per share, missing the Zacks Consensus Estimate of $1.92 per share. This compares to earnings of $2.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -29.69%. A quarter ago, it was expected that this leaf tobacco merchant would post earnings of $1.34 per share when it actually produced earnings of $1.36, delivering a surprise of +1.49%.Over the last four quarters ...

Financial Performance - Net income for the nine months ended December 31, 2025, was $90,758 thousand, down from $98,941 thousand in the same period of 2024, representing a decrease of about 8.8%[12] - For the three months ended December 31, 2025, the net income attributable to Universal Corporation was $33,249,000, resulting in basic earnings per share of $1.33, down from $2.39 in the same period of 2024[37] - Universal Corporation's net income for the three months ended December 31, 2025, was $33,249,000, compared to $59,639,000 for the same period in 2024, reflecting a decrease of 44%[90] - Total revenue from contracts with customers for the three months ended December 31, 2025, was $853.155 million, a decrease from $927.981 million in the same period of 2024, representing a decline of approximately 8%[24] - Total revenue from contracts with customers for the nine months ended December 31, 2025, was $2,195,224,000, a decrease of 2.2% from $2,232,752,000 in 2024[24] Assets and Liabilities - Total current assets decreased to $2,183,425 thousand as of December 31, 2025, from $2,215,645 thousand a year earlier, reflecting a decline of approximately 1.5%[8] - Total liabilities decreased to $1,492,340 thousand as of December 31, 2025, from $1,548,507 thousand a year earlier, a reduction of approximately 3.6%[10] - Total shareholders' equity rose to $1,525,174 thousand as of December 31, 2025, compared to $1,491,912 thousand a year earlier, an increase of about 2.2%[10] - Cash and cash equivalents at the end of the period were $85,227 thousand, a significant decrease of 67.3% from $260,115 thousand at the beginning of the year[12] - Accounts receivable, net, decreased to $571,511,000 as of December 31, 2025, from $650,021,000 in the previous year, a reduction of 12.1%[8] Sales and Revenue - Tobacco sales for the three months ended December 31, 2025, were $719.882 million, down from $811.743 million in 2024, reflecting a decrease of about 11.3%[24] - Ingredient sales for the three months ended December 31, 2025, were $77.891 million, slightly down from $78.705 million in 2024, indicating a decrease of approximately 1%[24] - Tobacco sales for the nine months ended December 31, 2025, amounted to $1,800,368,000, down 5.3% from $1,901,564,000 in 2024[24] - Ingredient sales increased to $251,671,000 for the nine months ended December 31, 2025, up 6.9% from $235,942,000 in 2024[24] Cash Flow and Operating Activities - The company reported a cash outflow from operating activities of $58,039 thousand for the nine months ended December 31, 2025, compared to an inflow of $168,228 thousand in the same period of 2024[12] - Net cash used by operating activities was $(58,039,000) for the nine months ended December 31, 2025, compared to $168,228,000 provided in 2024[12] Restructuring and Impairment - The company incurred $1.7 million in net provision for losses on advances to suppliers during the nine months ended December 31, 2025, compared to a recovery of $445 thousand in the same period of 2024[12] - Restructuring and impairment costs totaled $1.7 million for the nine months ended December 31, 2025, including $0.7 million related to the consolidation of European sheet tobacco operations[17] - Total restructuring and impairment costs for the nine months ended December 31, 2025, were $1.833 million, down from $10.573 million in 2024, a reduction of approximately 82.7%[18] Capital Expenditures and Investments - Capital expenditures for the Ingredients Operations segment were $15,630 for the nine months ended December 31, 2025, compared to $24,758 in the prior year, indicating a reduction in investment[88] - Capital expenditures for the Tobacco Operations segment were $24.673 million for the nine months ended December 31, 2025, compared to $30.127 million in the same period of 2024, a decrease of approximately 18%[88] Taxation - The consolidated effective income tax rate for the three months ended December 31, 2025, was 37.8%, significantly higher than the 23.0% rate for the same period in 2024, impacted by a new 10% withholding tax law in Brazil[41][42] - The effective tax rate for the nine months ended December 31, 2025, was 31.6%, compared to 25.9% for the same period in 2024[41][42] Stock and Dividends - The company declared cash dividends of $20,443,000 for the three months ended December 31, 2025, slightly higher than $20,020,000 declared in the same period of 2024[90] - The Company approved a stock repurchase program for up to $100 million, with $100 million remaining for repurchases as of December 31, 2025[31] Foreign Currency and Hedging - The Company has implemented hedging strategies for foreign currency exchange rate risk, particularly for tobacco purchases and processing costs in Brazil and Mexico[50] - The total notional amounts of forward currency contracts outstanding were approximately $64.4 million as of December 31, 2025, compared to $66.7 million in 2024, indicating a decrease of 3.4%[55] - The company uses forward contracts to manage currency remeasurement risk, with notional amounts outstanding at December 31, 2025, totaling approximately $64.4 million[55] Other Comprehensive Income - Other comprehensive income for the three months ended December 31, 2025, was a loss of $998,000, compared to a loss of $10,449,000 in the same period of 2024, indicating an improvement[90] - The company reported a total accumulated other comprehensive loss of $72.208 million at the end of December 2025, an improvement from $97.605 million at the end of December 2024[89]

Exhibit 99.1 P.O. Box 25099 ~ Richmond, VA 23260 ~ Phone: (804) 359-9311 ~ Fax: (804) 254-3584 ______________________________________________________________________________________________________ P R E S S R E L E A S E CONTACT: Universal Corporation Investor Relations RELEASE: 8:05 a.m. ET Phone: (804) 359-9311 Fax: (804) 254-3584 Email: investor@universalleaf.com Universal Corporation Reports Nine Month and Third Quarter 2026 Results Continued Solid Consolidated Performance Richmond, VA February 9, 2026 ...

As announced in July 2025, Johan C. Kroner, the Company's current Senior Vice President and CFO, will remain a Senior Vice President of the Company until July 1, 2026, serving as an advisor to Mr. Wigner and supporting a smooth CFO transition with Mr. Diel. Mr. Wigner stated, "I deeply appreciate Johan's continued support during his tenure and wish him all the best in his well-deserved retirement.†About Steven S. Diel RICHMOND, Va.--(BUSINESS WIRE)--Universal Corporation (NYSE:UVV) ("Universal†or the "Com ...

This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. Kenta Kon | Toyota Motor Toyota Motor’s finance chief, Kenta Kon, was promoted to president and chief executive officer of the automaker, effective April 1. Kon has been with the automaker since 1991 and has been CFO since July 2025. He succeeds Koji Sato, who was named CEO in 2023 to replace the company’s longtime leader Akio Toyoda. Sato will transition to the role of vice c ...