Universal Corporation posted modest top-line growth in the first half of FY2026, reporting a 3% rise in revenue and a 6% increase in revenue for Q2. The gains were driven by higher tobacco processing volumes and stronger ingredient sales.

Operating income climbed 18% in the first half to $102 million, though it slipped 2% in the second quarter to $68 million, a change the company attributed to product mix and currency effects. Net income jumped 64% year‑over‑year to $43 million.

By segment, Tobacco Operations recorded a 2% revenue increase to $1.16 billion, helped by stronger processing volumes and earlier shipments. Ingredients Operations saw revenue grow 11% to $184 million, supported by continued demand for value‑added products despite higher fixed costs and soft consumer demand.

CEO Preston Wigner said Universal delivered “strong operational performance” and is “well-positioned to capitalize on growth opportunities” in both its tobacco and ingredients businesses. The company also advanced its sustainability goals by expanding solar power use across multiple sites as part of a transition to renewable energy.

Universal’s board declared a quarterly dividend of $0.82 per share, payable February 2, 2026, to shareholders of record at the close of business on January 12, 2026.

This article was adapted from an original report published on tobaccoreporter.com. All rights belong to the original publisher.