Universal Corp 10-Q for FY2027 Q2

Universal Corp (UVV)

10-Q 2026-11-04 For: 2026-09-30

Added on November 04, 2026

About this 10-Q

Universal Corp filed this 10-Q on November 4, 2026, covering the quarter ended September 30, 2026 (FY2027 Q2).

Headline figures

Quarter ended September 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $617.37M; down 17.6% from $749.43M a year earlier
Net income: $12.58M; down 63.2% from net income of $34.17M a year earlier
Diluted EPS: $0.50; down 63.2% from $1.36 a year earlier

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Virginia			54-0414210
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification Number)

9201 Forest Hill Avenue,	Richmond,	Virginia	23235
(Address of principal executive offices)			(Zip Code)


Title of each class	Trading Symbol(s)	Name of each Exchange on which registered
Common Stock, no par value	UVV	New York Stock Exchange


Item No.		Page
	PART I - FINANCIAL INFORMATION
1.	Financial Statements	3
2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	27
3.	Quantitative and Qualitative Disclosures About Market Risk	36
4.	Controls and Procedures	36
	PART II - OTHER INFORMATION
1.	Legal Proceedings	37
1A.	Risk Factors	37
2.	Unregistered Sales of Equity Securities and Use of Proceeds	37
5.	Other Information	37
6.	Exhibits	38

	Signatures	39


	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
	(Unaudited)				(Unaudited)
Sales and other operating revenues	$	621,845	$	754,177	$	1,145,624	$	1,347,939
Costs and expenses
Cost of goods sold	514,320		614,347		955,011		1,093,982
Selling, general and administrative expenses	67,588		72,181		148,380		151,373

Restructuring and impairment (income) costs	(2,708)		—		(2,708)		1,122

Operating income	42,645		67,649		44,941		101,462
Equity in pretax earnings (loss) of unconsolidated affiliates	1,925		(2,561)		2,435		(126)
Other non-operating income (expense)	91		582		182		1,168
Interest income	343		778		1,084		1,425
Interest expense	18,389		20,438		34,896		38,215
Income (loss) before income taxes and other items	26,615		46,010		13,746		65,714
Income taxes	9,236		11,207		4,717		16,544
Net income (loss)	17,379		34,803		9,029		49,170
Less: net (income) loss attributable to noncontrolling interests in subsidiaries	(4,797)		(634)		(1,463)		(6,504)
Net income (loss) attributable to Universal Corporation	$	12,582	$	34,169	$	7,566	$	42,666




Earnings per share:
Basic	$	0.50	$	1.36	$	0.30	$	1.71
Diluted	$	0.50	$	1.36	$	0.30	$	1.70

Weighted average common shares outstanding:
Basic	25,059,394		25,035,110		25,070,359		25,017,765
Diluted	25,233,472		25,178,546		25,253,061		25,155,627

Total comprehensive income (loss), net of income taxes	$	27,223	$	34,654	$	17,799	$	57,756
Less: comprehensive (income) loss attributable to noncontrolling interests	(4,711)		(356)		(1,287)		(6,249)
Comprehensive income (loss) attributable to Universal Corporation	$	22,512	$	34,298	$	16,512	$	51,507

Dividends declared per common share	$	0.83	$	0.82	$	1.66	$	1.64


	September 30,		September 30,		March 31,
	2026		2025		2026
	(Unaudited)		(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	47,021	$	88,652	$	62,178
Accounts receivable, net	435,708		445,257		563,864
Advances to suppliers, net	101,770		121,569		177,222
Accounts receivable—unconsolidated affiliates	96,503		114,071		12,300
Inventories—at lower of cost or net realizable value:
Tobacco	1,186,662		1,138,630		832,360
Other	229,334		222,505		203,537
Prepaid income taxes	35,299		23,066		22,958

Other current assets	78,878		85,928		97,278
Total current assets	2,211,175		2,239,678		1,971,697

Property, plant and equipment
Land	25,638		26,285		26,249
Buildings	330,281		335,300		333,416
Machinery and equipment	781,235		746,284		759,654
	1,137,154		1,107,869		1,119,319
Less accumulated depreciation	(754,948)		(735,473)		(746,365)
	382,206		372,396		372,954
Other assets
Operating lease right-of-use assets	37,559		37,319		37,272
Goodwill, net	172,648		213,815		172,695
Other intangibles, net	44,565		52,650		48,604
Investments in unconsolidated affiliates	82,587		84,526		82,287
Deferred income taxes	22,298		18,238		15,636
Pension asset	16,450		13,393		16,542
Other noncurrent assets	60,973		38,424		49,080
	437,080		458,365		422,116

Total assets	$	3,030,461	$	3,070,439	$	2,766,767


	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands)	2026		2025		2026		2025

Restructuring costs:
Employee termination benefits	$	—	$	—	$	—	$	122
Other	—		—		—		—
Total restructuring costs	—		—		—		122
Impairment (income) costs:
Property, plant and equipment	(2,708)		—		(2,708)		1,000

Total impairment (income) costs	(2,708)		—		(2,708)		1,000
Total restructuring and impairment (income) costs	$	(2,708)	$	—	$	(2,708)	$	1,122


	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands of dollars)	2026		2025		2026		2025

Tobacco sales	$	493,617	$	622,613	$	889,344	$	1,080,486
Ingredient sales	83,043		88,837		165,295		173,780
Processing revenue	20,668		23,964		52,117		54,732
Other sales and revenue from contracts with customers	20,043		14,014		30,872		33,071
Total revenue from contracts with customers	617,371		749,428		1,137,628		1,342,069
Other operating sales and revenues	4,474		4,749		7,996		5,870
Consolidated sales and other operating revenues	$	621,845	$	754,177	$	1,145,624	$	1,347,939


	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands, except share and per share data)	2026		2025		2026		2025

Basic Earnings (Loss) Per Share
Numerator for basic earnings (loss) per share
Net income (loss) attributable to Universal Corporation	$	12,582	$	34,169	$	7,566	$	42,666




Denominator for basic earnings (loss) per share
Weighted average shares outstanding	25,059,394		25,035,110		25,070,359		25,017,765

Basic earnings (loss) per share	$	0.50	$	1.36	$	0.30	$	1.71

Diluted Earnings (Loss) Per Share
Numerator for diluted earnings (loss) per share



Net income (loss) attributable to Universal Corporation	$	12,582	$	34,169	$	7,566	$	42,666

Denominator for diluted earnings (loss) per share:
Weighted average shares outstanding	25,059,394		25,035,110		25,070,359		25,017,765
Effect of dilutive securities

Employee and outside director share-based awards	174,078		143,436		182,702		137,862
Denominator for diluted earnings (loss) per share	25,233,472		25,178,546		25,253,061		25,155,627

Diluted earnings (loss) per share	$	0.50	$	1.36	$	0.30	$	1.70


(in thousands, except useful life)				September 30, 2026
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(44,751)	$	41,749
Trade names		5		11,100		(11,100)		—
Developed technology		13		9,300		(6,531)		2,769
Noncompetition agreements		4		4,000		(4,000)		—
Other		5		698		(651)		47
Total intangible assets				$	111,598	$	(67,033)	$	44,565


				September 30, 2025
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(37,020)	$	49,480
Trade names		5		11,100		(11,100)		—
Developed technology		13		9,300		(6,185)		3,115
Noncompetition agreements		4		4,000		(4,000)		—
Other		5		880		(825)		55
Total intangible assets				$	111,780	$	(59,130)	$	52,650


				March 31, 2026
	Useful Life (years)			Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	11	—	13	$	86,500	$	(40,885)	$	45,615
Trade names		5		11,100		(11,100)		—
Developed technology		13		9,300		(6,358)		2,942
Noncompetition agreements		4		4,000		(4,000)		—
Other		5		694		(647)		47
Total intangible assets				$	111,594	$	(62,990)	$	48,604


Fiscal Year (in thousands of dollars)
2027 (excluding the six months ended September 30, 2026)	$	4,053
2028	8,109
2029	8,077
2030	8,077
2031 and thereafter	16,249
Total expected future amortization expense	$	44,565


	Six Months Ended September 30,
(in millions of dollars)	2026		2025

Tobacco purchases	$	88.5	$	42.2
Processing costs	15.2		8.3

Operating costs	12.4		16.1
Total	$	116.1	$	66.6


Hedging Program	Crop Year	Geographic Location(s)	Fiscal Year Earnings
Tobacco purchases	2028	Brazil	2029
Tobacco purchases	2027	Brazil	2028
Tobacco purchases	2026	Brazil	2027
Crop input sales	2027	Brazil	2028
Crop input sales	2026	Brazil	2027


	Derivatives in a Fair Value Asset Position							Derivatives in a Fair Value Liability Position
	Balance Sheet Location	Fair Value as of						Balance Sheet Location	Fair Value as of
(in thousands of dollars)		September 30, 2026		September 30, 2025		March 31, 2026			September 30, 2026		September 30, 2025		March 31, 2026

Derivatives Designated as Hedging Instruments
Interest rate swap agreements	Other non-current assets	$	16,884	$	—	$	953	Other long-term liabilities	$	—	$	1,035	$	—

Foreign currency exchange contracts	Other current assets	74		224		307		Accounts payable and accrued expenses	11		—		321
Total		$	16,958	$	224	$	1,260		$	11	$	1,035	$	321

Derivatives Not Designated as Hedging Instruments
Foreign currency exchange contracts	Other current assets	$	94	$	436	$	458	Accounts payable and accrued expenses	$	718	$	819	$	273
Total		$	94	$	436	$	458		$	718	$	819	$	273


	September 30,		September 30,		March 31,
	2026		2025		2026
	(Unaudited)		(Unaudited)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Notes payable and overdrafts	$	579,287	$	539,583	$	287,564
Accounts payable	100,462		99,599		90,139
Accounts payable—unconsolidated affiliates	182		299		510
Customer advances and deposits	4,937		2,782		3,376
Accrued compensation	31,603		30,776		33,234
Income taxes payable	10,624		14,573		17,643
Current portion of operating lease liabilities	11,405		11,809		11,172
Accrued expenses and other current liabilities	130,701		129,210		120,603

Total current liabilities	869,201		828,631		564,241

Long-term debt	617,011		618,196		616,727
Pensions and other postretirement benefits	36,434		36,490		35,471
Long-term operating lease liabilities	24,193		23,584		24,359
Other long-term liabilities	24,288		26,228		24,925
Deferred income taxes	35,363		33,160		39,920
Total liabilities	1,606,490		1,566,289		1,305,643

Shareholders’ equity
Universal Corporation:
Preferred stock:
Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding	—		—		—

Common stock, no par value, 100,000,000 shares authorized 24,919,133 shares issued and outstanding at September 30, 2026 (24,913,747 at September 30, 2025 and 24,923,496 at March 31, 2026)	354,499		352,909		351,523
Retained earnings	1,099,061		1,188,283		1,136,989
Accumulated other comprehensive loss	(64,166)		(71,210)		(73,112)
Total Universal Corporation shareholders' equity	1,389,394		1,469,982		1,415,400
Noncontrolling interests in subsidiaries	34,577		34,168		45,724
Total shareholders' equity	1,423,971		1,504,150		1,461,124

Total liabilities and shareholders' equity	$	3,030,461	$	3,070,439	$	2,766,767


	Six Months Ended September 30,
	2026		2025
	(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	9,029	$	49,170
Adjustments to reconcile net income (loss) to net cash used by operating activities:
Depreciation and amortization	25,728		27,198

Net provision for losses (recoveries) on advances to suppliers	626		(2,810)
Inventory writedowns	13,351		9,780
Stock-based compensation expense	6,675		8,481
Foreign currency remeasurement (gain) loss, net	8,212		1,195
Foreign currency exchange contracts	(990)		(2,531)
Deferred income taxes	(15,187)		(9,726)
Equity in net loss (income) of unconsolidated affiliates, net of dividends	(1,941)		991
Restructuring and impairment costs	—		1,122
Restructuring payments	(14)		(2,774)


Other, net	(1,107)		37
Changes in operating assets and liabilities, net:
Accounts and notes receivable	121,037		123,321
Inventories	(398,901)		(367,010)
Other assets	2,210		2,199
Accounts payable	9,118		(3,262)
Accrued expenses and other current liabilities	25,995		(4,426)
Income taxes	(19,282)		(1,989)
Customer advances and deposits	1,659		(1,324)
Net cash used by operating activities	(213,782)		(172,358)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(35,563)		(21,099)


Proceeds from sale of property, plant and equipment	6,334		881

Net cash used by investing activities	(29,229)		(20,218)

CASH FLOWS FROM FINANCING ACTIVITIES:


Level						Description

1						quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date;

2						quoted prices in active markets for similar assets or liabilities, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability; and

3						unobservable inputs for the asset or liability.


	Pension Benefits				Other Postretirement Benefits
	Six Months Ended September 30,				Six Months Ended September 30,
(in thousands of dollars)	2026		2025		2026		2025

Service cost	$	2,801	$	2,511	$	32	$	34
Interest cost	4,703		4,535		530		528
Expected return on plan assets	(5,742)		(6,054)		(14)		(22)

Net amortization and deferral	646		166		(305)		(321)
Net periodic benefit cost	$	2,408	$	1,158	$	243	$	219


	September 30, 2026
			Fair Value Hierarchy
(in thousands of dollars)	NAV		Level 1		Level 2		Level 3		Total

Assets
Money market funds	$	18	$	—	$	—	$	—	$	18
Trading securities associated with deferred compensation plans	—		12,679		—		—		12,679
Interest rate swap agreements	—		—		16,884		—		16,884
Foreign currency exchange contracts	—		—		168		—		168
Total financial assets measured and reported at fair value	$	18	$	12,679	$	17,052	$	—	$	29,749

Liabilities




Foreign currency exchange contracts	$	—	$	—	$	729	$	—	$	729
Total financial liabilities measured and reported at fair value	$	—	$	—	$	729	$	—	$	729


	Three Months Ended September 30, 2026						Three Months Ended September 30, 2025
	Tobacco Operations		Ingredients Operations		Consolidated		Tobacco Operations		Ingredients Operations		Consolidated
Sales and other operating revenues	$	534,341	$	87,504	$	621,845	$	659,423	$	94,754	$	754,177
Cost of goods sold	(438,244)		(76,076)		(514,320)		(534,668)		(79,679)		(614,347)
Selling, general and administrative expenses	(36,969)		(10,925)		(47,894)		(40,057)		(12,041)		(52,098)
Corporate overhead allocated to the segments	(17,117)		(2,577)		(19,694)		(16,889)		(3,194)		(20,083)
Equity in pretax earnings (loss) of unconsolidated affiliates (1)	1,925		—		1,925		(2,561)		—		(2,561)
Segment operating income (loss)	43,936		(2,074)		41,862		65,248		(160)		65,088
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates (1)					(1,925)						2,561
Restructuring and impairment (income) costs (2)					2,708						—

Consolidated total					$	42,645					$	67,649


	Six Months Ended September 30, 2026						Six Months Ended September 30, 2025
	Tobacco Operations		Ingredients Operations		Consolidated		Tobacco Operations		Ingredients Operations		Consolidated
Sales and other operating revenues	$	971,469	$	174,155	$	1,145,624	$	1,164,119	$	183,820	$	1,347,939
Cost of goods sold	(805,331)		(149,680)		(955,011)		(942,535)		(151,447)		(1,093,982)
Selling, general and administrative expenses	(83,033)		(21,446)		(104,479)		(84,811)		(24,078)		(108,889)
Corporate overhead allocated to the segments	(38,138)		(5,763)		(43,901)		(35,729)		(6,755)		(42,484)
Equity in pretax earnings (loss) of unconsolidated affiliates(1)	2,435		—		2,435		(126)		—		(126)
Segment operating income (loss)	47,402		(2,734)		44,668		100,918		1,540		102,458
Deduct: Equity in pretax (earnings) loss of unconsolidated affiliates(1)					(2,435)						126
Restructuring and impairment (income) costs (2)					2,708						(1,122)

Consolidated operating income					$	44,941					$	101,462


	Segment Assets						Accounts Receivable, net
	September 30, 2026		September 30, 2025		March 31, 2026		September 30, 2026		September 30, 2025		March 31, 2026
Tobacco Operations	$	2,570,759	$	2,555,801	$	2,300,491	$	384,275	$	383,623	$	508,247
Ingredients Operations	459,702		514,638		466,276		51,433		61,634		55,617
Consolidated total	$	3,030,461	$	3,070,439	$	2,766,767	$	435,708	$	445,257	$	563,864

	Goodwill, net						Intangibles, net
	September 30, 2026		September 30, 2025		March 31, 2026		September 30, 2026		September 30, 2025		March 31, 2026
Tobacco Operations	$	97,641	$	97,747	$	97,688	$	47	$	55	$	47
Ingredients Operations	75,007		116,068		75,007		44,518		52,595		48,557
Consolidated total	$	172,648	$	213,815	$	172,695	$	44,565	$	52,650	$	48,604

					Capital Expenditures				Depreciation and Amortization
					Six Months Ended September 30,				Six Months Ended September 30,
					2026		2025		2026		2025
Tobacco Operations					$	28,785	$	13,711	$	15,480	$	16,378
Ingredients Operations					6,778		7,388		10,248		10,820
Consolidated total					$	35,563	$	21,099	$	25,728	$	27,198


FINANCIAL HIGHLIGHTS
	Three Months Ended September 30,						Change		Six Months Ended September 30,						Change
(in millions of dollars, except per share data)	2026			2025			%		2026			2025			%

Consolidated Results
Sales and other operating revenue	$	621.8		$	754.2		(18)	%	$	1,145.6		$	1,347.9		(15)	%
Cost of goods sold	$	514.3		$	614.3		(16)	%	$	955.0		$	1,094.0		(13)	%
Gross profit margin percentage	17.3		%	18.5		%	-120 bps		16.6		%	18.8		%	-220 bps
Selling, general and administrative expenses	$	67.6		$	72.2		(6)	%	$	148.4		$	151.4		(2)	%
Restructuring and impairment (income) costs	$	(2.7)		$	—		100	%	$	(2.7)		$	1.1		(341)	%
Operating income	$	42.6		$	67.6		(37)	%	$	44.9		$	101.5		(56)	%
Adjusted operating income (non-GAAP)*	$	39.9		$	67.6		(41)	%	$	42.2		$	102.6		(59)	%
Net income (loss) attributable to Universal Corporation	$	12.6		$	34.2		(63)	%	$	7.6		$	42.7		(82)	%
Adjusted net income (loss) attributable to Universal Corporation (non-GAAP)*	$	9.9		$	34.2		(71)	%	$	4.9		$	43.8		(89)	%
Diluted earnings (loss) per share	$	0.50		$	1.36		(63)	%	$	0.30		$	1.70		(82)	%
Adjusted diluted earnings (loss) per share (non-GAAP)*	$	0.39		$	1.36		(71)	%	$	0.19		$	1.74		(89)	%
Segment Results
Tobacco operations sales and other operating revenues	$	534.3		$	659.4		(19)	%	$	971.5		$	1,164.1		(17)	%
Tobacco operations operating income	$	43.9		$	65.2		(33)	%	$	47.4		$	100.9		(53)	%
Ingredients operations sales and other operating revenues	$	87.5		$	94.8		(8)	%	$	174.2		$	183.8		(5)	%
Ingredients operations operating income (loss)	$	(2.1)		$	(0.2)		(1196)	%	$	(2.7)		$	1.5		(278)	%
*See Reconciliation of Certain Non-GAAP Financial Measures in Other Items below.


Adjusted Operating Income Reconciliation
	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands)	2026		2025		2026		2025
As Reported: Consolidated operating income	$	42,645	$	67,649	$	44,941	$	101,462


Restructuring and impairment (income) costs(1)	(2,708)		—		(2,708)		1,122

As Adjusted operating income (non-GAAP)	$	39,937	$	67,649	$	42,233	$	102,584

Adjusted Net Income (Loss) Attributable to Universal Corporation and Adjusted Diluted Earnings (Loss) Per Share Reconciliation

(in thousands except for per share amounts)	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
As Reported: Net income (loss) attributable to Universal Corporation	$	12,582	$	34,169	$	7,566	$	42,666


Restructuring and impairment (income) costs(1)	(2,708)		—		(2,708)		1,122





Total of non-GAAP adjustments to income (loss) before income taxes	(2,708)		—		(2,708)		1,122

Non-GAAP adjustments to income taxes
Income tax benefit from restructuring and impairment (income) costs(1)(2)	—		—		—		(35)


Total of income tax impacts for non-GAAP adjustments to income (loss) before income taxes	—		—		—		(35)

As adjusted: Net income (loss) attributable to Universal Corporation (non-GAAP)	$	9,874	$	34,169	$	4,858	$	43,753
As reported: Diluted earnings (loss) per share	$	0.50	$	1.36	$	0.30	$	1.70
As adjusted: Diluted earnings (loss) per share (non-GAAP)	$	0.39	$	1.36	$	0.19	$	1.74


Net Debt and Net Capitalization Reconciliation
	September 30,			September 30,			March 31,
(in thousands)	2026			2025			2026
Add: Notes payable and overdrafts	$	579,287		$	539,583		$	287,564
Add: Long-term obligations	617,011			618,196			616,727
Add: Current portion of long-term obligations	—			—			—
Total Debt	1,196,298			1,157,779			904,291
Add: Customer advances and deposits	4,937			2,782			3,376
Less: Cash and cash equivalents	47,021			88,652			62,178
Net Debt (non-GAAP)	$	1,154,214		$	1,071,909		$	845,489
Add: Total Universal Corporation shareholders' equity	1,389,394			1,469,982			1,415,400
Net Capitalization (non-GAAP)	$	2,543,608		$	2,541,891		$	2,260,889

Net Debt/Net Capitalization (non-GAAP)	45		%	42		%	37		%



Period (1)	Total Number of Shares Repurchased	Average Price Paid Per Share (2)		Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs (3)	Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs (3)

July 1-31, 2026	43,288	$	52.08	43,288	$	95,000,004
August 1-31, 2026	—	—		—	95,000,004
September 1-30, 2026	—	—		—	95,000,004
Total	43,288	$	52.08	43,288	$	95,000,004



10.1						Amendment No. 1, dated October 9, 2026, to the Credit Agreement, dated December 9, 2025, among Universal Corporation, JPMorgan Chase Bank, N.A., as Administrative Agent, Truist Bank and AgFirst Farm Credit Bank, as Co-Syndication Agents, and First Horizon Bank, KeyBank National Association, Citibank, N.A., Bank of America, N.A., UBS Switzerland AG, Atlantic Union Bank and Capital One, N.A., as Co-Documentation Agents (incorporated herein by reference to the Registrant’s Current Report on Form 8-K dated October 9, 2026, File No. 001-00652).

31.1						Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*

31.2						Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*

32.1						Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350.*

32.2						Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350.*

101						Interactive Data File (submitted electronically herewith).*

						101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101.SCH XBRL Taxonomy Extension Schema Document 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF XBRL Taxonomy Extension Definition Linkbase Document 101.LAB XBRL Taxonomy Extension Label Linkbase Document 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document In accordance with Rule 406T of Regulation S-T, the XBRL related information in Exhibit 101 to this Quarterly Report on Form 10-Q shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section and shall not be part of any registration or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


		UNIVERSAL CORPORATION
		(Registrant)

Date:	November 4, 2026	/s/ Steven S. Diel
		Steven S. Diel, Senior Vice President and Chief Financial Officer
		(Principal Financial Officer)

Date:	November 4, 2026	/s/ Scott J. Bleicher
		Scott J. Bleicher, Vice President and Controller
		(Principal Accounting Officer)


Date:	November 4, 2026	/s/ Preston D. Wigner
		Preston D. Wigner
		Chairman, President, and Chief Executive Officer
		(Principal Executive Officer)