Question:
You are tasked with answering the user's question using the provided context, which includes financial statements (Income Statements, Balance Sheets, and Cash Flow Statements) and financial news articles in multiple languages (English, Chinese, Japanese, Spanish, and Greek). Please provide a detailed and well-supported answer based on the information available. Limit your response to 100 words or fewer. If you cannot answer the question or if no relevant evidence is found, write “None”.

Answer Format:
Answer: {Answer by summarizing the financial news.}
Financial Statements Evidence: {Verify your answer using quote(s) from the financial statements (include original amounts if relevant). Write “None” if no statement evidence is available.}
Context:
Financial Statements:
| Column 1                                              | Column 2   | Column 3      | Column 4   | Column 5      | Column 6   | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   | Column 13   | Column 14   | Column 15   | Column 16   | Column 17   | Column 18   | Column 19   | Column 20   | Column 21   |
|:------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
|                                                       |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            | September 30, |            | September 30, |            | March 31,  |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            | 2024          |            | 2023          |            | 2024       |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            | (Unaudited)   |            | (Unaudited)   |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| ASSETS                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Current assets                                        |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Cash and cash equivalents                             |            | $             | 80,118     |               |            | $          | 99,683     |            |             | $           | 55,593      |             |             |             |             |             |             |             |             |             |
| Accounts receivable, net                              |            | 537,602       |            |               | 368,924    |            |            | 525,262    |             |             |             |             |             |             |             |             |             |             |             |             |
| Advances to suppliers, net                            |            | 139,766       |            |               | 105,637    |            |            | 139,064    |             |             |             |             |             |             |             |             |             |             |             |             |
| Accounts receivable—unconsolidated affiliates         |            | 66,646        |            |               | 55,409     |            |            | 5,385      |             |             |             |             |             |             |             |             |             |             |             |             |
| Inventories—at lower of cost or net realizable value: |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Tobacco                                               |            | 1,070,655     |            |               | 1,086,240  |            |            | 1,070,580  |             |             |             |             |             |             |             |             |             |             |             |             |
| Other                                                 |            | 211,476       |            |               | 212,268    |            |            | 193,518    |             |             |             |             |             |             |             |             |             |             |             |             |
| Prepaid income taxes                                  |            | 20,771        |            |               | 23,918     |            |            | 19,484     |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Other current assets                                  |            | 84,884        |            |               | 95,634     |            |            | 93,655     |             |             |             |             |             |             |             |             |             |             |             |             |
| Total current assets                                  |            | 2,211,918     |            |               | 2,047,713  |            |            | 2,102,541  |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Property, plant and equipment                         |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Land                                                  |            | 25,972        |            |               | 26,262     |            |            | 26,244     |             |             |             |             |             |             |             |             |             |             |             |             |
| Buildings                                             |            | 330,407       |            |               | 316,180    |            |            | 323,969    |             |             |             |             |             |             |             |             |             |             |             |             |
| Machinery and equipment                               |            | 705,246       |            |               | 705,977    |            |            | 693,868    |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            | 1,061,625     |            |               | 1,048,419  |            |            | 1,044,081  |             |             |             |             |             |             |             |             |             |             |             |             |
| Less accumulated depreciation                         |            | (685,883)     |            |               | (691,811)  |            |            | (678,201)  |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            | 375,742       |            |               | 356,608    |            |            | 365,880    |             |             |             |             |             |             |             |             |             |             |             |             |
| Other assets                                          |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Operating lease right-of-use assets                   |            | 32,487        |            |               | 36,318     |            |            | 32,510     |             |             |             |             |             |             |             |             |             |             |             |             |
| Goodwill, net                                         |            | 213,872       |            |               | 213,856    |            |            | 213,869    |             |             |             |             |             |             |             |             |             |             |             |             |
| Other intangibles, net                                |            | 63,263        |            |               | 74,475     |            |            | 68,883     |             |             |             |             |             |             |             |             |             |             |             |             |
| Investments in unconsolidated affiliates              |            | 78,774        |            |               | 70,618     |            |            | 76,289     |             |             |             |             |             |             |             |             |             |             |             |             |
| Deferred income taxes                                 |            | 15,526        |            |               | 16,192     |            |            | 15,181     |             |             |             |             |             |             |             |             |             |             |             |             |
| Pension asset                                         |            | 12,293        |            |               | 10,650     |            |            | 11,857     |             |             |             |             |             |             |             |             |             |             |             |             |
| Other noncurrent assets                               |            | 41,711        |            |               | 35,342     |            |            | 50,229     |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            | 457,926       |            |               | 457,451    |            |            | 468,818    |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                       |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Total assets                                          |            | $             | 3,045,586  |               |            | $          | 2,861,772  |            |             | $           | 2,937,239   |             |             |             |             |             |             |             |             |             |

---

| Column 1                                                                                | Column 2   | Column 3      | Column 4   | Column 5      | Column 6   | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   | Column 13   | Column 14   | Column 15   | Column 16   | Column 17   | Column 18   | Column 19   | Column 20   | Column 21   |
|:--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:--------------|:-----------|:--------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
|                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            | September 30, |            | September 30, |            | March 31,  |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            | 2024          |            | 2023          |            | 2024       |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            | (Unaudited)   |            | (Unaudited)   |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Current liabilities                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Notes payable and overdrafts                                                                                |            | $             | 579,132    |               |            | $          | 301,379    |            |             | $           | 417,217     |             |             |             |             |             |             |             |             |             |
| Accounts payable                                                                                |            | 87,106        |            |               | 70,737     |            |            | 108,727    |             |             |             |             |             |             |             |             |             |             |             |             |
| Accounts payable—unconsolidated affiliates                                                                                |            | 174           |            |               | 166        |            |            | 1,621      |             |             |             |             |             |             |             |             |             |             |             |             |
| Customer advances and deposits                                                                                |            | 6,837         |            |               | 166,505    |            |            | 17,179     |             |             |             |             |             |             |             |             |             |             |             |             |
| Accrued compensation                                                                                |            | 29,266        |            |               | 26,772     |            |            | 39,766     |             |             |             |             |             |             |             |             |             |             |             |             |
| Income taxes payable                                                                                |            | 7,948         |            |               | 4,494      |            |            | 7,477      |             |             |             |             |             |             |             |             |             |             |             |             |
| Current portion of operating lease liabilities                                                                                |            | 10,325        |            |               | 10,469     |            |            | 10,356     |             |             |             |             |             |             |             |             |             |             |             |             |
| Accrued expenses and other current liabilities                                                                                |            | 128,634       |            |               | 120,623    |            |            | 109,015    |             |             |             |             |             |             |             |             |             |             |             |             |
| Current portion of long-term debt                                                                                |            | —             |            |               | —          |            |            | —          |             |             |             |             |             |             |             |             |             |             |             |             |
| Total current liabilities                                                                                |            | 849,422       |            |               | 701,145    |            |            | 711,358    |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Long-term debt                                                                                |            | 617,641       |            |               | 617,086    |            |            | 617,364    |             |             |             |             |             |             |             |             |             |             |             |             |
| Pensions and other postretirement benefits                                                                                |            | 36,734        |            |               | 42,378     |            |            | 43,251     |             |             |             |             |             |             |             |             |             |             |             |             |
| Long-term operating lease liabilities                                                                                |            | 19,038        |            |               | 22,804     |            |            | 19,302     |             |             |             |             |             |             |             |             |             |             |             |             |
| Other long-term liabilities                                                                                |            | 28,425        |            |               | 15,769     |            |            | 27,902     |             |             |             |             |             |             |             |             |             |             |             |             |
| Deferred income taxes                                                                                |            | 36,322        |            |               | 45,082     |            |            | 39,139     |             |             |             |             |             |             |             |             |             |             |             |             |
| Total liabilities                                                                                |            | 1,587,582     |            |               | 1,444,264  |            |            | 1,458,316  |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Shareholders’ equity                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Universal Corporation:                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Preferred stock:                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Series A Junior Participating Preferred Stock, no par value,500,000shares authorized,noneissued or outstanding                                                                        |            | —             |            |               | —          |            |            | —          |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Common stock, no par value,100,000,000shares authorized24,715,625shares issued and outstanding at September 30, 2024 (24,558,493at September 30, 2023 and24,573,408at March 31, 2024) |            | 349,064       |            |               | 339,241    |            |            | 345,596    |             |             |             |             |             |             |             |             |             |             |             |             |
| Retained earnings                                                                                |            | 1,158,658     |            |               | 1,119,615  |            |            | 1,173,196  |             |             |             |             |             |             |             |             |             |             |             |             |
| Accumulated other comprehensive loss                                                                                |            | (87,156)      |            |               | (74,667)   |            |            | (81,585)   |             |             |             |             |             |             |             |             |             |             |             |             |
| Total Universal Corporation shareholders' equity                                                                                |            | 1,420,566     |            |               | 1,384,189  |            |            | 1,437,207  |             |             |             |             |             |             |             |             |             |             |             |             |
| Noncontrolling interests in subsidiaries                                                                                |            | 37,438        |            |               | 33,319     |            |            | 41,716     |             |             |             |             |             |             |             |             |             |             |             |             |
| Total shareholders' equity                                                                                |            | 1,458,004     |            |               | 1,417,508  |            |            | 1,478,923  |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |               |            |               |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |
| Total liabilities and shareholders' equity                                                                                |            | $             | 3,045,586  |               |            | $          | 2,861,772  |            |             | $           | 2,937,239   |             |             |             |             |             |             |             |             |             |

---

| Column 1                                                                             | Column 2   | Column 3                       | Column 4   | Column 5   | Column 6   | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   | Column 13   | Column 14   | Column 15   |
|:-------------------------------------------------------------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            | Six Months Ended September 30, |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            | 2024                           |            | 2023       |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            | (Unaudited)                    |            |            |            |            |            |            |             |             |             |             |             |             |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Net income (loss)                                                                    |            | $                              | 31,145     |            |            | $          | 25,627     |            |             |             |             |             |             |             |
| Adjustments to reconcile net income (loss) to net cash used by operating activities: |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Depreciation and amortization                                                        |            | 29,420                         |            |            | 29,009     |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Net provision for losses (recoveries) on advances to suppliers                       |            | (5,562)                        |            |            | 3,835      |            |            |            |             |             |             |             |             |             |
| Inventory writedowns                                                                 |            | 5,231                          |            |            | 2,870      |            |            |            |             |             |             |             |             |             |
| Stock-based compensation expense                                                     |            | 6,583                          |            |            | 5,711      |            |            |            |             |             |             |             |             |             |
| Foreign currency remeasurement (gain) loss, net                                      |            | 1,334                          |            |            | 7,528      |            |            |            |             |             |             |             |             |             |
| Foreign currency exchange contracts                                                  |            | 3,225                          |            |            | 2,563      |            |            |            |             |             |             |             |             |             |
| Deferred income taxes                                                                |            | 153                            |            |            | (3,560)    |            |            |            |             |             |             |             |             |             |
| Equity in net loss (income) of unconsolidated affiliates, net of dividends           |            | 404                            |            |            | 3,135      |            |            |            |             |             |             |             |             |             |
| Restructuring and impairment costs                                                   |            | 10,573                         |            |            | 2,599      |            |            |            |             |             |             |             |             |             |
| Restructuring payments                                                               |            | (350)                          |            |            | (806)      |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Other, net                                                                           |            | (217)                          |            |            | 1,012      |            |            |            |             |             |             |             |             |             |
| Changes in operating assets and liabilities, net:                                    |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Accounts and notes receivable                                                        |            | (63,420)                       |            |            | 46,724     |            |            |            |             |             |             |             |             |             |
| Inventories                                                                          |            | (21,682)                       |            |            | (269,422)  |            |            |            |             |             |             |             |             |             |
| Other assets                                                                         |            | 9,029                          |            |            | 10,235     |            |            |            |             |             |             |             |             |             |
| Accounts payable                                                                     |            | (22,066)                       |            |            | (18,874)   |            |            |            |             |             |             |             |             |             |
| Accrued expenses and other current liabilities                                       |            | (19,970)                       |            |            | 4,680      |            |            |            |             |             |             |             |             |             |
| Income taxes                                                                         |            | (1,238)                        |            |            | (5,995)    |            |            |            |             |             |             |             |             |             |
| Customer advances and deposits                                                       |            | (10,005)                       |            |            | 163,663    |            |            |            |             |             |             |             |             |             |
| Net cash provided (used) by operating activities                                     |            | (47,413)                       |            |            | 10,534     |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Purchase of property, plant and equipment                                            |            | (38,796)                       |            |            | (32,630)   |            |            |            |             |             |             |             |             |             |
| Proceeds from sale of business, net of cash held by the business                     |            | —                              |            |            | 3,757      |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Proceeds from sale of property, plant and equipment                                  |            | 1,412                          |            |            | 713        |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Net cash used by investing activities                                                |            | (37,384)                       |            |            | (28,160)   |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Issuance of short-term debt, net                                                     |            | 161,611                        |            |            | 105,649    |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Dividends paid to noncontrolling interests                                           |            | (8,960)                        |            |            | (5,845)    |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Repurchase of common stock                                                           |            | —                              |            |            | (4,744)    |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Dividends paid on common stock                                                       |            | (39,646)                       |            |            | (39,108)   |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Other                                                                                |            | (3,716)                        |            |            | (2,963)    |            |            |            |             |             |             |             |             |             |
| Net cash provided (used) by financing activities                                     |            | 109,289                        |            |            | 52,989     |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Effect of exchange rate changes on cash, restricted cash and cash equivalents        |            | 33                             |            |            | (370)      |            |            |            |             |             |             |             |             |             |
| Net increase (decrease) in cash, restricted cash and cash equivalents                |            | 24,525                         |            |            | 34,993     |            |            |            |             |             |             |             |             |             |
| Cash, restricted cash and cash equivalents at beginning of year                      |            | 55,593                         |            |            | 64,690     |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
| Cash, restricted cash and cash equivalents at end of period                          |            | $                              | 80,118     |            |            | $          | 99,683     |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |
|                                                                                |            |                                |            |            |            |            |            |            |             |             |             |             |             |             |

---

| Column 1                                                                          | Column 2   | Column 3                         | Column 4   | Column 5                       | Column 6   | Column 7   | Column 8   | Column 9   | Column 10   | Column 11   | Column 12   | Column 13   | Column 14   | Column 15   | Column 16   | Column 17   | Column 18   | Column 19   | Column 20   | Column 21   | Column 22   | Column 23   | Column 24   | Column 25   | Column 26   | Column 27   |
|:----------------------------------------------------------------------------------|:-----------|:---------------------------------|:-----------|:-------------------------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|:------------|
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            | Three Months Ended September 30, |            | Six Months Ended September 30, |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            | 2024                             |            | 2023                           |            | 2024       |            | 2023       |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            | (Unaudited)                      |            | (Unaudited)                    |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Sales and other operating revenues                                                |            | $                                | 710,762    |                                |            | $          | 638,484    |            |             | $           | 1,307,812   |             |             | $           | 1,156,206   |             |             |             |             |             |             |             |             |             |             |             |
| Costs and expenses                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Cost of goods sold                                                                |            | 567,617                          |            |                                | 506,767    |            |            | 1,068,746  |             |             | 937,977     |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Selling, general and administrative expenses                                      |            | 63,836                           |            |                                | 73,806     |            |            | 142,532    |             |             | 149,283     |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Restructuring and impairment costs                                                |            | 10,573                           |            |                                | 2,599      |            |            | 10,573     |             |             | 2,599       |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Operating income                                                                  |            | 68,736                           |            |                                | 55,312     |            |            | 85,961     |             |             | 66,347      |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Equity in pretax earnings (loss) of unconsolidated affiliates                     |            | (642)                            |            |                                | (713)      |            |            | (502)      |             |             | (4,879)     |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Other non-operating income (expense)                                              |            | 461                              |            |                                | 728        |            |            | 925        |             |             | 1,453       |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Interest income                                                                   |            | 295                              |            |                                | 953        |            |            | 1,103      |             |             | 2,318       |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Interest expense                                                                  |            | 21,273                           |            |                                | 17,053     |            |            | 42,007     |             |             | 32,596      |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Income (loss) before income taxes and other items                                 |            | 47,577                           |            |                                | 39,227     |            |            | 45,480     |             |             | 32,643      |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Income taxes                                                                      |            | 13,608                           |            |                                | 8,439      |            |            | 14,335     |             |             | 7,016       |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Net income (loss)                                                                 |            | 33,969                           |            |                                | 30,788     |            |            | 31,145     |             |             | 25,627      |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Less:  net loss (income) attributable to noncontrolling interests in subsidiaries |            | (8,029)                          |            |                                | (2,660)    |            |            | (5,075)    |             |             | 437         |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Net income (loss) attributable to Universal Corporation                           |            | $                                | 25,940     |                                |            | $          | 28,128     |            |             | $           | 26,070      |             |             | $           | 26,064      |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Earnings per share:                                                               |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Basic                                                                             |            | $                                | 1.04       |                                |            | $          | 1.13       |            |             | $           | 1.05        |             |             | $           | 1.05        |             |             |             |             |             |             |             |             |             |             |             |
| Diluted                                                                           |            | $                                | 1.03       |                                |            | $          | 1.12       |            |             | $           | 1.04        |             |             | $           | 1.04        |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Weighted average common shares outstanding:                                       |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Basic                                                                             |            | 24,946,632                       |            |                                | 24,869,697 |            |            | 24,911,681 |             |             | 24,855,974  |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Diluted                                                                           |            | 25,135,973                       |            |                                | 25,015,369 |            |            | 25,101,295 |             |             | 24,997,899  |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Total comprehensive income (loss), net of income taxes                            |            | $                                | 33,531     |                                |            | $          | 28,549     |            |             | $           | 25,181      |             |             | $           | 27,754      |             |             |             |             |             |             |             |             |             |             |             |
| Less: comprehensive (income) loss attributable to noncontrolling interests        |            | (8,026)                          |            |                                | (2,541)    |            |            | (4,682)    |             |             | 700         |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Comprehensive income (loss) attributable to Universal Corporation                 |            | $                                | 25,505     |                                |            | $          | 26,008     |            |             | $           | 20,499      |             |             | $           | 28,454      |             |             |             |             |             |             |             |             |             |             |             |
|                                                                                |            |                                  |            |                                |            |            |            |            |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |             |
| Dividends declared per common share                                               |            | $                                | 0.81       |                                |            | $          | 0.80       |            |             | $           | 1.62        |             |             | $           | 1.60        |             |             |             |             |             |             |             |             |             |             |             |

---

English News:
**State Street Corp Increases Stake in Universal Corp Despite Stock Decline** State Street Corp has strategically bolstered its investment in Universal Corp by acquiring an additional 71,773 shares, thus increasing its total shareholding to 1,218,793 shares. This move underscores State Street's confidence in Universal Corp's long-term prospects despite the company's stock experiencing a year-to-date decline of 24.74%. The decision to expand their holdings comes in the wake of Universal Corp's latest financial performance report for the six months ending September 30, 2024. The company posted a net income of $26.07 million, a slight increase from $25.63 million during the same period last year. However, the report also highlighted potential liquidity issues, with Universal Corp registering a negative cash flow from operating activities totaling $47.41 million. Despite these operational cash flow concerns, Universal Corp's balance sheet demonstrates resilience and growth. As of September 30, 2024, the company reported total assets of $3.045 billion, up from $2.862 billion a year earlier, with current assets representing approximately $2.212 billion. Furthermore, with an equity base of $1.458 billion, the company's robust asset and equity positions paint a picture of financial stability. State Street Corp's increased stake and Universal Corp's asset growth may signal potential recovery and growth opportunities ahead, despite the recent stock decline and cash flow challenges. Investors will likely be monitoring upcoming financial disclosures closely to assess if these strategic investments will yield the anticipated positive outcomes.

Chinese News:
美股财报 | 环球烟草发布Q3财报 前三季度累计净利润同比增长13.84% 环球烟草(UVV)发布Q3财报，2025财年前三财季累计收入22.45亿美元，去年同期累计收入为19.78亿美元，同比增长13.52%。 2025财年前三财季累计净利润9894.10万美元，去年同期累计净利润为8691.40万美元，同比增长13.84%。 本财年累计基本每股收益为3.44美元，去年同期为3.19美元。 公司所属行业为烟草。 Universal Corporation是一家领先的烟叶烟草供应商。它在5大洲超过30个国家都有业务。自其1918年建立后烟草业就成了其主要业务。它业务的最大部分就是为消费性烟草产品生产商收集处理烤烟和白肋烟叶，两种烟的业务部门主要在北美和其它地区。它还有第三个业务部门，即它的东方烟草合资企业以及一些与烟草有关的服务。

Japanese News:
ユニバーサル（UVV）は、2025年度第2四半期（7月～9月）の業績を発表し、増収・営業増益を達成しました。 2024年4月21日に公開された10-Q（四半期報告書）によると、第2四半期の売上高は前年同期比11.3％増の7億1076万ドルに達しました。営業利益は24.3％増の6873万ドルとなり、営業利益率は9.7％に向上しました。前年同期の営業利益率は8.7％でした。 調整後の1株利益（EPS）は1.03ドルで、前年同期の1.12ドルから減少しました。加えて、同社は四半期配当を増配し、前年同期より0.01ドル多い0.81ドルの配当を実施しました。

Spanish News:
Universal Corporation ha informado de los resultados financieros correspondientes al primer trimestre finalizado el 30 de junio de 2024. En este periodo, la compañía reportó ventas de 597,05 millones de dólares, frente a los 517,72 millones de dólares del año anterior. Los ingresos netos fueron de 0,13 millones de dólares, comparado con las pérdidas netas de 2,06 millones de dólares registradas en el mismo trimestre de 2023. Resultados clave del primer trimestre: Beneficio básico por acción de operaciones continuadas: 0,01 dólares, frente a la pérdida de 0,08 dólares por acción en el mismo trimestre del año anterior. Beneficio diluido por acción de operaciones continuadas: 0,01 dólares, en comparación con la pérdida diluida por acción de 0,08 dólares del año anterior.

Greek News:
Η Universal Corporation (UVV), μία από τις κορυφαίες εταιρείες στον τομέα του καπνού φύλλων, διατηρεί συνεπή προσήλωση σε μια στρατηγική κατανομής κεφαλαίων που στοχεύει στην ενίσχυση της αποδοτικότητας και τη διατήρηση μελλοντικής αναπτυξιακής δυναμικής. Βασικοί άξονες της στρατηγικής αυτής είναι η ενίσχυση της κύριας δραστηριότητάς της, η αύξηση των μερισμάτων, η ανάπτυξη του τομέα συστατικών και η επιστροφή πλεονάζοντος κεφαλαίου στους μετόχους. Κατά το πρώτο εξάμηνο του οικονομικού έτους που έληξε στις 30 Σεπτεμβρίου 2024, η εταιρεία επένδυσε περίπου 38,8 εκατομμύρια δολάρια σε πάγια περιουσιακά στοιχεία, έναντι 32,6 εκατομμυρίων την αντίστοιχη περίοδο του 2023. Οι κεφαλαιουχικές δαπάνες της UVV παραμένουν στοχευμένες, επικεντρωμένες σε έργα που ενισχύουν την παραγωγικότητα, εξασφαλίζουν τη συντήρηση και αντικατάσταση εξοπλισμού και υποστηρίζουν την οργανική επέκταση. Παράλληλα, η UVV επιδεικνύει ευελιξία στον σχεδιασμό της, αναλαμβάνοντας επιλεκτικά έργα που σχετίζονται με βιωσιμότητα, βελτίωση της αποδοτικότητας και εξυπηρέτηση των πελατών της. Για τους επόμενους δώδεκα μήνες, προβλέπεται ότι οι επενδύσεις σε έργα συντήρησης και ανάπτυξης θα κυμανθούν μεταξύ 50 και 60 εκατομμυρίων δολαρίων. Η διαχείριση του κεφαλαίου κίνησης αποτελεί κρίσιμο στοιχείο της λειτουργικής στρατηγικής της UVV. Το πρώτο εξάμηνο του οικονομικού έτους αποτελεί συνήθως περίοδο σημαντικών επενδύσεων στις γεωργικές αγορές της Αφρικής, της Νότιας Αμερικής και των Ηνωμένων Πολιτειών. Στο πλαίσιο αυτό, η εταιρεία προχώρησε σε επιτάχυνση των αγορών καπνού στη Βραζιλία εντός του πρώτου τριμήνου του 2024, μεταφέροντας μέρος της δαπάνης που θα είχε καταγραφεί το 2025. Οι απαιτήσεις κεφαλαίου κίνησης χρηματοδοτήθηκαν μέσω ενός συνδυασμού διαθέσιμων μετρητών, βραχυπρόθεσμου δανεισμού, προκαταβολών πελατών και θετικών ταμειακών ροών. Επιπλέον, οι πωλήσεις καπνού εκτιμάται ότι θα ενταθούν κατά το δεύτερο εξάμηνο του οικονομικού έτους 2025, γεγονός που αναμένεται να ενισχύσει περαιτέρω τη ρευστότητα και τα έσοδα της εταιρείας.

Question:
What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.

Answer:

Question: What is the company’s strategy on navigating maintaining profit margins from the news? Please quote all the relevant financial information from the financial statements supporting the finding(s), if any.