Mon, Apr 21, 8:18 PM (21 days ago)
**Universal Corporation (UVV) - Financial Summary** **Financial Performance:** - **Revenue:** $2,748,573,000 (2024), $2,569,824,000 (2023), $2,103,601,000 (2022) - **Net Income:** $132,971,000 (2024), $130,236,000 (2023), $103,604,000 (2022) - **Operating Expenses:** $2,526,564,000 (2024), $2,432,592,000 (2023), $2,043,286,000 (2022) - **Earnings per Share (EPS):** $4.78 (diluted, 2024), $4.97 (diluted, 2023), $3.47 (diluted, 2022) **Strategic Overview:** - **Segments:** Tobacco Operations and Ingredients Operations. - **Market Position:** Leading global leaf tobacco supplier and provider of plant-based ingredients. - **Risk Factors:** Dependence on a few major customers, exposure to currency fluctuations, and regulatory risks. **Future Outlook:** - **Growth:** Continued expansion in plant-based ingredients and strategic acquisitions. - **Challenges:** Market volatility, regulatory changes, and operational risks. **Risk Factors:** - **Market Risks:** Dependence on a few major customers and exposure to currency fluctuations. - **Operational Risks:** Supply chain disruptions and regulatory changes. - **Financial Risks:** Exposure to interest rate and foreign currency exchange rate risks. **Financial Condition:** - **Liquidity:** Strong cash position with $55,593,000 in cash and cash equivalents (2024). - **Debt:** Long-term debt of $617,364,000 (2024). - **Equity:** Shareholders' equity of $1,478,923,000 (2024). **Market Position Changes:** - **Customer Base:** Six largest customers account for approximately 60% of consolidated revenue. - **Geographic Reach:** Operations in over 30 countries, primarily in major tobacco-producing regions. **Amendment Highlights:** - **Material Weakness:** Identification of a material weakness in internal control over financial reporting related to the Mozambique subsidiary. - **Impact:** No change to consolidated financial statements, but a reassessment of disclosure controls and procedures. - **Remediation:** Implementation of additional controls and training to address the identified weaknesses.