NYSE$UVV
Universal Corp/VA · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported increased earnings per share and operating income driven by strong tobacco shipment volumes and strategic investments in plant-based ingredients platform.
Universal Corporation reported increased net income and operating income for the quarter ended December 31, 2020, driven by strong tobacco shipment volumes and the addition of businesses acquired in the Ingredients Operations segment. The company's strategic investments in its plant-based ingredients platform are expected to generate between 10% and 20% of EBITDA in fiscal year 2022.
- Net income for the quarter ended December 31, 2020, was $33.3 million, or $1.34 per diluted share, compared to $26.0 million, or $1.04 per diluted share, for the prior year's third fiscal quarter.
- Operating income for the third quarter of fiscal year 2021 increased to $60.2 million compared to $44.1 million for the three months ended December 31, 2019.
- Consolidated revenues increased by $167.9 million to $672.9 million for the three months ended December 31, 2020, compared to the same period in fiscal year 2020.
- Tobacco Operations segment operating income increased by $38.4 million to $84.1 million for the quarter ended December 31, 2020, compared with the same period for fiscal year 2020.
Headline financials
Revenue & EPS history
Universal Corp · Revenue · Quarterly
$665M
Revenue by segment
Universal Corp · $673M total across 2 segments · Q3 2021
- Tobacco Operations$624M—92.7%
- Ingredients Operations$49.1M—7.3%
Forward guidance
The company anticipates adjusted operating income for fiscal year 2021 to materially exceed that for fiscal year 2020, barring unforeseen events such as shipment delays or COVID-19 related uncertainties. The new plant-based ingredients platform is expected to generate between 10% and 20% of EBITDA in fiscal year 2022.
Tailwinds
- Strong tobacco shipment volumes expected to continue in the fourth fiscal quarter of 2021.
- Uncommitted tobacco inventory levels remain within the target range.
- Significant and strategic investments in the plant-based ingredients platform.
- Expect the new platform will generate between 10% and 20% of our EBITDA in fiscal year 2022.
- Opportunities to increase market share and enhance leaf tobacco businesses.
Headwinds
- Potential shipment delays due to lack of vessel or container availability, port congestion, or COVID-19 related uncertainties.
- Ongoing international competitor pricing pressures.
- Operating and growing our businesses during the pandemic has not been easy.
- Slower processing of products due to controlled staffing in facilities that could lead to further delays of shipments to customers.
- Expect continued volatility in foreign currency exchange rates during fiscal year 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
-0.4%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.2%
Avg return
30 days after
49%
33 / 68 earnings
Positive
+30.3%
Q4 2018
Best reaction
-14.9%
Q1 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +1.0% | +3.5% | — | |
| Q3 2026 | -10.7% | -7.5% | -9.6% | |
| Q2 2026 | +1.4% | +2.6% | +1.7% | |
| Q1 2026 | -4.6% | -0.7% | +1.8% | |
| Q2 2025 | +0.3% | +0.0% | +11.7% | |
| Q3 2025 | +1.4% | -0.7% | +2.7% | |
| Q1 2025 | +5.2% | +3.3% | +5.3% | |
| Q4 2024 | -12.2% | -13.2% | -9.8% | |
| Q3 2024 | -7.7% | -9.3% | -12.7% | |
| Q2 2024 | +13.6% | +17.8% | +29.2% | |
| Q1 2024 | -1.5% | -2.4% | -5.8% | |
| Q4 2023 | -0.5% | -1.4% | -6.5% | |
| Q3 2023 | -0.4% | +1.1% | -6.1% | |
| Q2 2023 | +9.2% | +10.3% | +15.8% | |
| Q1 2023 | -6.1% | -6.0% | -8.6% | |
| Q4 2022 | +1.6% | +2.8% | -3.7% | |
| Q3 2022 | -4.6% | -5.8% | +6.1% | |
| Q2 2022 | +2.5% | +2.9% | +1.1% | |
| Q1 2022 | -3.9% | -2.6% | -1.9% | |
| Q4 2021 | -2.8% | -5.1% | -5.0% | |
| Q3 2021 | +7.6% | +9.0% | +20.1% | |
| Q2 2021 | +0.2% | +11.1% | +19.1% | |
| Q1 2021 | +2.1% | +6.2% | +1.1% | |
| Q4 2020 | -1.6% | -3.2% | -8.8% | |
| Q3 2020 | -4.3% | -4.9% | -8.9% | |
| Q2 2020 | -11.0% | -9.8% | -3.8% | |
| Q1 2020 | -5.8% | -9.8% | -9.5% | |
| Q4 2019 | +15.0% | +12.0% | +14.4% | |
| Q3 2019 | +3.3% | +0.3% | +6.2% | |
| Q2 2019 | -2.0% | -4.5% | -10.4% | |
| Q1 2019 | -13.2% | -16.9% | -11.8% | |
| Q4 2018 | +30.3% | +36.8% | +37.1% | |
| Q3 2018 | +1.2% | +9.2% | +8.7% | |
| Q2 2018 | -5.4% | -2.1% | -6.0% | |
| Q1 2018 | -3.8% | -9.2% | -8.5% | |
| Q4 2017 | -4.7% | -5.5% | -6.5% | |
| Q3 2017 | +15.6% | +6.7% | -4.8% | |
| Q2 2017 | +4.9% | -0.1% | +10.8% | |
| Q1 2017 | +3.9% | +3.2% | +3.0% | |
| Q4 2016 | +4.3% | +1.6% | +1.5% | |
| Q3 2016 | -2.5% | — | — | |
| Q2 2016 | -0.0% | — | — | |
| Q1 2016 | -14.0% | — | — | |
| Q4 2015 | +6.9% | — | — | |
| Q3 2015 | +6.5% | — | — | |
| Q2 2015 | -6.0% | — | — | |
| Q1 2015 | -3.9% | — | — | |
| Q4 2014 | -4.4% | — | — | |
| Q3 2014 | +7.9% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | -5.0% | — | — | |
| Q4 2013 | -2.5% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q2 2013 | -2.2% | — | — | |
| Q1 2013 | +2.3% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | +3.1% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2009 | -1.5% | — | — | |
| Q4 2011 | -1.5% | — | — | |
| Q3 2010 | +3.4% | — | — | |
| Q3 2011 | +3.4% | — | — | |
| Q2 2011 | +1.1% | — | — | |
| Q2 2010 | +1.1% | — | — | |
| Q1 2010 | -14.9% | — | — | |
| Q4 2010 | -14.9% | — | — | |
| Q1 2011 | -14.9% | — | — |
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