Universal (UVV) FY2018 results: revenue $2.0 billion, down 1.4% on the year
Universal Corp. (UVV) reported revenue of $2.0 billion for fiscal 2018, the year ended 31 March 2018, down 1.4% on the year before. Net income was $106 million, down 0.6%, and diluted earnings per share $4.14. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2019.
Revenue
$2.0 billion
-1.4% on the year
FY2011FY2018
Operating margin
8.5%
8.7% a year earlier
FY2011FY2018
Net income
$106 million
-0.6% on the year
FY2011FY2018
Diluted EPS
$4.14
+370.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,019
2,047
2,120
-1.4%
Cost of revenue
1,662
1,677
1,713
-0.9%
Gross profit
357
371
407
-3.8%
Gross margin
17.7%
18.1%
19.2%
Selling, general and administrative
201
212
227
-5.1%
Operating income
171
178
182
-4.2%
Operating margin
8.5%
8.7%
8.6%
Interest expense
15.6
16.3
15.7
-4.1%
Pre-tax income
167
169
173
-1.5%
Income tax
50.5
56.7
54.4
-11.0%
Effective tax rate
30.3%
33.5%
31.5%
Net income
106
106
109
-0.6%
Net margin
5.2%
5.2%
5.1%
Diluted EPS
$4.14
$0.88
$3.92
+370.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
81.2
250
187
-67.5%
Capital expenditure
34.0
35.6
47.2
-4.5%
Free cash flow
47.2
215
139
-78.0%
Free cash flow margin
2.3%
10.5%
6.6%
Cash from investing
-27.4
-33.9
-50.9
Cash from financing
-105
-251
-64.6
Depreciation and amortisation
34.9
36.0
37.6
-3.0%
Share-based compensation
7.6
6.5
5.2
+17.5%
Buybacks
21.6
0.0
0.0
Dividends paid
54.7
49.8
47.4
+9.8%
Dividend per share
$2.18
$2.14
$2.10
+1.9%
Diluted shares, weighted
26m
24m
28m
+7.3%
Shares outstanding at period end
25m
25m
23m
-1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,342
1,286
1,414
+4.3%
Non-controlling interest
42.9
40.1
38.8
+6.9%
Debt
415
428
435
-3.1%
Other liabilities
369
369
345
-0.0%
Total liabilities and equity
2,169
2,123
2,233
+2.1%
Fixed assets
324
317
326
+2.0%
Goodwill
98.8
98.8
99.0
+0.0%
Trading assets
17.5
17.7
17.8
-1.2%
Cash and equivalents
234
284
319
-17.6%
Receivables
377
439
429
-14.2%
Other assets
1,117
966
1,042
+15.6%
Total assets
2,169
2,123
2,233
+2.1%
10-K for the year ended 31 March 2018, filed 24 May 2019: the filing.