Universal Corporation (NYSE:UVV) Q1 2025 Results Conference Call August 7, 2024 5:00 PM ET

Company Participants

Jennifer Rowe - Assistant Treasurer
George Freeman - Chairman, President, and Chief Executive Officer
Johan Kroner - Chief Financial Officer

Conference Call Participants

Ann Gurkin - Davenport

Operator

Good day, everyone, and welcome to today's Universal Corporation First Quarter Fiscal Year 2025 Earnings Call. [Operator Instructions] Please note, this session is being recorded. [Operator Instructions] And it is now my pleasure to turn the floor over to Jennifer Rowe. Please go ahead.

Jennifer Rowe

Thank you, Jim. Thank you for joining us. George Freeman, our Chairman, President and CEO; Airton Hentschke, our Chief Operating Officer; and Johan Kroner, our Chief Financial Officer, are here with me today and will join me in answering questions after these brief remarks.

This call is being webcast live and will be available on our website and on telephone taped replay. They remain on our website through November 7, 2024. Other than the replay, we have not authorized and disclaim responsibility for any recording, replay or distribution of any transcription of this call. This call is copyrighted and may not be used without our permission.

Before I begin to discuss our results, I caution you that we will be making forward-looking statements that are based on our current knowledge and some assumptions about the future and are representative as of today only. Actual results could differ materially from projected or estimated results, and we assume no obligation to update any forward-looking statements. For information on some of the factors that can affect our estimates, I urge you to read our 10-K for the year ended March 31, 2024. Such risks and uncertainties include, but are not limited to, customer-mandated timing of shipments, weather conditions, political and economic environment, government regulation and taxation, changes in exchange rate and interest rates, industry consolidation and evolution and changes in market structure or sources.

Finally, some of the information that I have for you today may be based on unaudited allocations and is subject to reclassification. In an effort to provide useful information to investors, our comments today may also include non-GAAP financial measures. For details on these measures, including reconciliations to the most comparable GAAP measures, please refer to our current earnings press release.

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 approximately 15% for both our Tobacco and Ingredient Operations segments, while operating income was $17.2 million, up $6.2 million or 56% compared to the same quarter last fiscal year.