The following is a summary of the Universal Corporation (UVV) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Universal Corporation's Q3 2024 operating income and net income increased by 13% and 28% respectively compared to Q3 2023, positively impacting their year-to-date performance.

• Net income for the last three quarters and Q3, 2023 was valued at $79.3 million and $53.2 million respectively.

• Excluding non-recurring items, the company's net income rose by $12.6 million with an increase of $0.49 in diluted earnings per share for the nine-month period. The quarterly numbers, as on December 31, 2023, rose likewise by $12.1 million or $0.49 per share.

Business Progress:

• Universal Corporation's tobacco business excelled because of a favourable product mix, better crop yield in Africa, and high demand from customers.

• The expansion of the ingredients business was substantial, promising future gains from advancements in research and development backed by a competent sales team. The enlargement of their ingredients facility at Lancaster, Pennsylvania is projected to be complete by Q3 2025.

• In a bid to further their global sustainability targets, Universal Corporation partook in a solar project which intends to cut their operational greenhouse gas emissions by 30% by 2030.

More details: Universal Corp IR

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