Nov 4, 4:26 PM ET
Universal Corporation increased its board to 10 members and appointed Gregory R. Friedman as a new independent director, effective November 4, 2026. The filing says he is expected to join the Audit Committee, the Nominating, Governance and Risk Committee, and the Finance and Pension Investment Committee. The change adds a director with prior chief financial officer experience at Corteva and DuPont Pioneer.
- Board size increased to 10 members; Gregory R. Friedman appointed effective November 4, 2026
- Board determined Friedman is independent under NYSE listing standards
- Expected committee roles: Audit; Nominating, Governance and Risk; Finance and Pension Investment
- Friedman was most recently CFO of Mura Technology and previously EVP and CFO of Corteva, Inc.
Read the filing on SEC.gov ↗
Nov 4, 4:17 PM ET
Universal Corporation reported results for the quarter ended September 30, 2026. Sales fell 18% to $621.8 million, and diluted earnings per share were $0.50 versus $1.36 a year earlier, as tobacco shipments were delayed by the market cycle. Management said shipments are forecast to be heavily weighted to the second half of fiscal 2027.
- Quarterly sales of $621.8 million, down 18% from $754.2 million; operating income of $42.6 million, down 37%
- Diluted EPS of $0.50 versus $1.36; adjusted diluted EPS (non-GAAP) of $0.39 versus $1.36
- Uncommitted tobacco inventory was 19% at September 30, 2026, within the company's target range
- Total debt rose to $1.20 billion and net debt (non-GAAP) to $1.15 billion, up $82.3 million from a year earlier
Read the filing on SEC.gov ↗
Oct 13, 4:23 PM ET
Universal Corporation entered into Amendment No. 1 to its Credit Agreement with JPMorgan Chase Bank, N.A. on October 9, 2026, temporarily raising the maximum Total Net Leverage Ratio it must maintain. The covenant rises from 3.00 to 1.00 to 3.75 to 1.00 for the quarters ending September 30 and December 31, 2026, then steps down to 3.25 to 1.00 for March 31, 2027 before returning to 3.00 to 1.00 from June 30, 2027.
- Maximum Total Net Leverage Ratio set at 3.75 to 1.00 for quarters ending September 30, 2026 and December 31, 2026
- Covenant steps down to 3.25 to 1.00 for quarter ending March 31, 2027
- Covenant returns to 3.00 to 1.00 for quarter ending June 30, 2027 and later quarters
- Filing describes other amendments as non-material; all other credit agreement terms unchanged
Read the filing on SEC.gov ↗
Sep 18, 4:15 PM ET
Universal Corporation terminated J. Patrick O'Keefe, its Vice President, Ingredients, without cause, effective September 15, 2026. The company had previously reported that he intended to retire, and it is working with an executive search firm to find a successor.
- J. Patrick O'Keefe, Vice President, Ingredients, was terminated without cause on September 14, 2026, effective September 15, 2026.
- On July 29, 2026, Mr. O'Keefe had notified the company of his intention to retire.
- The company continues its previously announced process of identifying a successor with an executive search firm.
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
