Key Takeaways Meta and UMG expanded their global music licensing deal, now including WhatsApp for the first time. The companies said they plan to fight unauthorized AI-generated content so artists are fairly compensated. Since the Meta-UMG partnership was formed in 2017, it has amplified artists and their music on platforms including virtual reality. Meta Platforms (META) and Universal Music Group (UMGNF) announced a multi-year deal designed to create business opportunities for artists and songwriters on Fa ...

Pop stars including Taylor Swift, Adele, Billie Eilish and Elton John will soon have their music played and shared across WhatsApp. Universal Music Group, the world's largest multinational music group which represents the globe's biggest recording artists, reached a multiyear licensing agreement with Mark Zuckerberg's Meta Platforms on Monday. The deal is an expansion of an earlier agreement from 2017 in which UMG licensed its music catalogs to Facebook and its sister platforms Messenger, Instagram and Ocul ...

Meta and Universal Music Group (UMG) announced on Monday the expansion of their multi-year music licensing agreement, which enables users to share songs from UMG's music library across Meta's platforms (Facebook, Instagram, Horizon, Threads, and WhatsApp) without violating copyright. What's most notable about the new agreement is that it states that the two companies are addressing "unauthorized AI-generated content." This refers to songs being scraped by AI systems, often without the consent of the origina ...

ALEAIMAGE/E+ via Getty Images Universal Corporation (NYSE:UVV) engages in sourcing, processing, and supplying leaf tobacco and plant-based ingredients worldwide. We have started covering the firm back in July 2022 with an initial "buy" rating, due to its attractive dividend- and dividend growth, which we have reiterated in September 2022. x Analysis Rating: All Ratings Filtered By: UVV (2) Analyst's Rating History on UVV " oration: The Demand For Tobacco Remains Strong Universal Corp. Could Be An Attractive ...

Financial Data and Key Metrics Changes - For the quarter ended June 30, 2024, revenue was $597.1 million, up approximately 15% compared to the same quarter last fiscal year, while operating income was $17.2 million, an increase of $6.2 million or 56% [4][8] - Net income for the quarter was $0.1 million or $0.01 per diluted share, which is an increase of $2.2 million compared to the same quarter last year [8] Business Segment Data and Key Metrics Changes - The Tobacco Operations segment saw revenue growth driven by higher sales volumes and prices, with operating income increasing by $5.6 million to $14.5 million [5][8] - The Ingredients Operations segment also delivered improved performance, with a 15% increase in sales revenue primarily due to increased sales volume and new product sales [7][9] Market Data and Key Metrics Changes - Uncommitted tobacco inventory levels at June 30, 2024, remained low at about 13%, indicating an undersupply position in the global leaf tobacco market [6] - Worldwide flue-cured and burley uncommitted stocks stood at 21 million kilos at the end of June, down 7 million kilos from the end of March [21] Company Strategy and Development Direction - The company is focused on sustainability, setting greenhouse gas emission targets and committing to public disclosures of progress towards these goals by 2030 [11] - The Lancaster, Pennsylvania expansion project is on track to become fully operational in the second half of the fiscal year, expected to contribute meaningfully to the Ingredients Operations segment results in fiscal year 2026 [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the tobacco industry is moving towards a more balanced supply environment, which may lead to moderated leaf prices and maintained margins [14][15] - The company is proactively managing supply chain disruptions and is optimistic about avoiding constraints on logistics [17] Other Important Information - Selling, general and administrative expenses increased by $3.2 million, largely due to unfavorable foreign currency comparisons [8] - The company expects to see continued improvement in the Ingredients segment as new customer contracts ramp up throughout the year [23] Q&A Session Summary Question: Update on estimated lease production for 2025 and its impact on margins - Management indicated that a more balanced supply environment could lead to reduced inflationary prices and maintained margins [14][15] Question: Potential cost savings from consolidating sheet production in Europe - Management mentioned that restructuring could yield cost savings between $10 million and $15 million, primarily noncash [16] Question: Issues obtaining shipping containers for the back half of fiscal '25 - Management acknowledged recent disruptions and increased freight costs but expressed optimism about managing logistics effectively [17] Question: Outlook for oriental tobacco for the balance of the year - Management expects a positive performance for oriental tobacco, particularly in the Turkish market, compared to last year [18] Question: Uncommitted worldwide tobacco leaf numbers - Uncommitted stocks were reported at 21 million kilos, down from previous levels [21] Question: Full-year expectations for the Ingredients segment - Management anticipates continued improvement in the Ingredients segment, driven by new product sales and stabilization in markets [22][23] Question: Interest expense outlook in the back half of the year - Management expects to see leverage unwind and interest expenses decrease as tobacco is shipped and sold [27] Question: CapEx moderation - Management noted that CapEx is expected to decrease as significant investments in Lancaster are nearing completion [28] Question: Opportunities for farmers to grow additional crops - Management confirmed ongoing support for farmers to grow food crops and expand their offerings [29][30]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________TO_______________ Commission File Number: 001-00652 UNIVERSAL CORPORATION (Exact name of registrant as specified in its charter) Virginia 54-0414210 (Stat ...

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: 4:16 p.m. ET Phone: (804) 359-9311 Fax: (804) 254-3584 Email: investor@universalleaf.com Universal Corporation Reports First Quarter Results Richmond, VA August 7, 2024 / PRNEWSWIRE _________________________________________________ ...

RICHMOND, Va., Aug. 7, 2024 /PRNewswire/ -- George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE:UVV), stated, "Universal Corporation is off to a strong start for our fiscal year 2025. For the quarter ended June 30, 2024, revenue was $597.1 million, up by approximately 15% for both our Tobacco and Ingredients Operations segments, while operating income was $17.2 million, up $6.2 million, or 56%, compared to the same quarter last fiscal year. "Our revenue in ...

RICHMOND, Va., Aug. 7, 2024 /PRNewswire/ -- George C. Freeman, III, Chairman, President, and Chief Executive Officer of Universal Corporation (NYSE: UVV), announced today that the Company's Board of Directors declared a quarterly dividend of eighty-one cents ($0.81) per share on the common shares of the Company, payable November 4, 2024, to common shareholders of record at the close of business on October 14, 2024. Universal Corporation (NYSE: UVV) is a global agricultural company with over 100 years of exp ...

Eloi_Omella/E+ via Getty Images Universal Corporation (NYSE:UVV) is about to release their Q1 2025 earnings results on August 7, after market close. Given the recent global shortage of leaf tobacco, investors should keep an eye on the results of their tobacco operations segment. I will also cover the headwinds and future initiatives in their ingredients segment, which suffered a decrease in revenue in FY 2024. Additionally, I considered giving you my perspective on the contributing factors for the increase ...