Increased Operating Income
Operating income increased by $17 million to $34 million for the first fiscal quarter, primarily driven by a favorable product mix in the Tobacco Operations segment.
Tobacco Operations Segment Performance
Segment operating income for Tobacco Operations increased by $21.2 million to $35.7 million, mainly due to a favorable product mix in Asia.
Net Income Improvement
Net income attributable to Universal Corporation was $8.5 million, or $0.34 per share, significantly up from $100,000, or $0.01 per share, in the same quarter of the previous year.
Debt Reduction
Net debt was reduced by $47 million compared to the same time last year, maintaining a strong balance sheet and conservative debt levels.
Sustainability Commitment
Completion of annual third-party assessment and verification of Scope 1, 2, and relevant Scope 3 emissions, contributing to the goal of net zero greenhouse gas emissions by 2050.