Universal (UVV) Q2 FY2027 earnings: revenue $617 million, down 17.6% on the year

Universal Corp. (UVV) reported revenue of $617 million for Q2 FY2027, the quarter ended 30 September 2026, down 17.6% on the same quarter a year earlier. Net income was $13 million, down 63.2% on the year, and diluted earnings per share $0.50. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$617 million

-17.6% on the year · +18.7% on the quarter

Q3 FY2025Q2 FY2027

Operating margin

6.9%

9.0% a year earlier

Q3 FY2025Q2 FY2027

Net income

$13 million

-63.2% on the year

Q3 FY2025Q2 FY2027

Diluted EPS

$0.50

-63.2% on the year

Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Quarter revenue and operating income fell: Second-quarter revenue fell 18% to $621.8 million and operating income fell 37% to $42.6 million, both on lower tobacco sales volumes tied to the delayed tobacco market cycle.
Diluted EPS fell to $0.50: Diluted EPS was $0.50 against $1.36 a year earlier. Adjusted diluted EPS, which excludes a restructuring item, was $0.39.
Tobacco volumes down about 23%: Tobacco sales volumes fell about 23% on lower consolidated tobacco sales. Segment revenue fell $125.1 million and segment operating income fell $21.3 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Revenue	617	520	749	+18.7%	-17.6%
Cost of revenue	514	441	614	+16.7%	-16.3%
Gross profit	103	79.6	135	+29.5%	-23.7%
Gross margin	16.7%	15.3%	18.0%
Selling, general and administrative	67.6	80.8	72.2	-16.3%	-6.4%
Operating income	42.6	2.3	67.6	+1,757.4%	-37.0%
Operating margin	6.9%	0.4%	9.0%
Interest expense	18.4	16.5	20.4	+11.4%	-10.0%
Income tax	9.2	-4.5	11.2		-17.6%
Net income	12.6	-5.0	34.2		-63.2%
Net margin	2.0%	-1.0%	4.6%
Diluted EPS	$0.50	-$0.20	$1.36		-63.2%

$ million except per share.

Free 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	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Operating cash flow	-96.7	-117	32.7
Capital expenditure	19.6	15.9	9.0	+23.3%	+117.1%
Free cash flow	-116	-133	23.7
Free cash flow margin	-18.8%	-25.6%	3.2%
Cash from investing	-13.6	-15.6	-8.3
Cash from financing	-16.3	244	-114
Depreciation and amortisation	13.0	12.8	13.6	+1.6%	-4.8%
Share-based compensation	1.3	5.4	0.9	-75.9%	+43.2%
Buybacks	2.3	2.7	0.0	-17.9%
Dividends paid	20.7	20.4	20.4	+1.2%	+1.3%
Dividend per share	$0.83	$0.83	$0.82	0.0%	+1.2%
Diluted shares, weighted	25m	25m	25m	+0.6%	+0.2%
Shares outstanding at period end	25m	25m	25m	+0.1%	+0.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Shareholders' equity	1,389	1,389	1,470	+0.0%	-5.5%
Non-controlling interest	34.6	34.1	34.2	+1.5%	+1.2%
Debt	1,196	1,184	1,158	+1.0%	+3.3%
Operating lease liabilities	24.2	22.9	23.6	+5.8%	+2.6%
Other liabilities	386	406	385	-4.9%	+0.3%
Total liabilities and equity	3,030	3,035	3,070	-0.2%	-1.3%
Fixed assets	382	377	372	+1.5%	+2.6%
Goodwill	173	173	214	-0.0%	-19.3%
Intangible assets	44.6	46.6	52.6	-4.4%	-15.4%
Trading assets	12.7	13.0	12.3	-2.5%	+3.1%
Cash and equivalents	47.0	174	88.7	-72.9%	-47.0%
Receivables	436	348	445	+25.2%	-2.1%
Other assets	1,936	1,905	1,885	+1.6%	+2.7%
Total assets	3,030	3,035	3,070	-0.2%	-1.3%

Questions

What was Universal's revenue in Q2 FY2027?

Universal (UVV) reported revenue of $617 million for Q2 FY2027, the quarter ended 30 September 2026, down 17.6% on the same quarter a year earlier.

How much did Universal earn in Q2 FY2027?

Net income for Q2 FY2027 was $13 million, down 63.2% on the year, and diluted earnings per share $0.50.

When did Universal report Q2 FY2027 results?

Universal filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	648	641	429	650	790	681	516	636	813	756	596	708	928	690	593	749	853	690	520	617
Cost of revenue	521	525	350	541	650	571	431	507	655	620	501	568	744	586	480	614	702	617	441	514
Gross profit	127	116	79.0	109	141	109	85.2	129	159	136	95.3	141	184	104	113	135	151	73.1	79.6	103
Gross margin	20%	18%	18%	17%	18%	16%	16%	20%	20%	18%	16%	20%	20%	15%	19%	18%	18%	11%	15%	17%
SG&A	60.3	65.2	66.5	72.4	68.0	70.4	75.5	73.8	78.6	82.7	78.7	63.8	89.5	73.2	79.2	72.2	76.9	72.4	80.8	67.6
Operating income	62.8	57.1	13.3	37.9	77.5	52.4	11.0	55.3	87.5	68.2	17.2	68.7	104	42.8	33.8	67.6	82.0	-15.0	2.3	42.6
Operating margin	10%	9%	3%	6%	10%	8%	2%	9%	11%	9%	3%	10%	11%	6%	6%	9%	10%	-2%	0%	7%
Interest expense	7.5	6.9	6.7	12.3	14.3	16.0	15.5	17.1	15.5	18.2	20.7	21.3	19.3	18.3	17.8	20.4	17.3	18.6	16.5	18.4
Net income	34.9	25.8	6.8	21.9	41.7	53.7	-2.1	28.1	53.2	40.3	0.1	25.9	59.6	9.3	8.5	34.2	33.2	-43.3	-5.0	12.6
Net margin	5%	4%	2%	3%	5%	8%	-0%	4%	7%	5%	0%	4%	6%	1%	1%	5%	4%	-6%	-1%	2%
Diluted EPS	$1.40	$1.03	$0.27	$0.88	$1.67	$2.15	-$0.08	$1.12	$2.12	$1.61	$0.01	$1.03	$2.37	$0.37	$0.34	$1.36	$1.32	-$1.73	-$0.20	$0.50
Operating cash flow	69.2	96.5	-226	-120	162	173	-104	114	-57.3	-27.9	-62.4	15.0	216	159	-205	32.7	114	187	-117	-96.7
Capital expenditure	21.2	13.4	15.1	11.5	12.8	15.2	18.0	14.7	15.1	18.3	22.7	16.0	16.1	7.7	12.1	9.0	19.2	8.5	15.9	19.6
Free cash flow	48.0	83.1	-241	-132	150	158	-122	99.8	-72.4	-46.2	-85.2	-1.0	200	151	-217	23.7	95.1	179	-133	-116
Buybacks	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	0.0	0.0	n/a	n/a	2.7	2.3
Dividends paid	19.2	19.2	19.2	19.4	19.4	19.4	19.4	19.7	19.6	19.6	19.7	20.0	20.0	20.0	20.0	20.4	20.4	20.4	20.4	20.7
Shares outstanding	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.