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   |
|:------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
|                                                       |            |             |            |             |            |            |            |            |             |             |             |             |
|                                                       |            |             |            |             |            |            |            |            |             |             |             |             |
|                                                       |            | June 30,    |            | June 30,    |            | March 31,  |            |            |             |             |             |             |
|                                                       |            | 2020        |            | 2019        |            | 2020       |            |            |             |             |             |             |
|                                                       |            | (Unaudited) |            | (Unaudited) |            |            |            |            |             |             |             |             |
| ASSETS                                                |            |             |            |             |            |            |            |            |             |             |             |             |
| Current assets                                        |            |             |            |             |            |            |            |            |             |             |             |             |
| Cash and cash equivalents                             |            | $           | 100,015    |             |            | $          | 167,996    |            |             | $           | 107,430     |             |
| Accounts receivable, net                              |            | 222,162     |            |             | 217,905    |            |            | 340,711    |             |             |             |             |
| Advances to suppliers, net                            |            | 65,221      |            |             | 80,032     |            |            | 133,778    |             |             |             |             |
| Accounts receivable—unconsolidated affiliates         |            | 32,827      |            |             | 63,388     |            |            | 11,483     |             |             |             |             |
| Inventories—at lower of cost or net realizable value: |            |             |            |             |            |            |            |            |             |             |             |             |
| Tobacco                                               |            | 858,940     |            |             | 898,409    |            |            | 707,298    |             |             |             |             |
| Other                                                 |            | 104,399     |            |             | 77,654     |            |            | 99,275     |             |             |             |             |
| Prepaid income taxes                                  |            | 13,426      |            |             | 20,985     |            |            | 12,144     |             |             |             |             |
| Other current assets                                  |            | 65,675      |            |             | 75,689     |            |            | 67,498     |             |             |             |             |
| Total current assets                                  |            | 1,462,665   |            |             | 1,602,058  |            |            | 1,479,617  |             |             |             |             |
|                                                       |            |             |            |             |            |            |            |            |             |             |             |             |
| Property, plant and equipment                         |            |             |            |             |            |            |            |            |             |             |             |             |
| Land                                                  |            | 21,454      |            |             | 22,785     |            |            | 21,376     |             |             |             |             |
| Buildings                                             |            | 258,306     |            |             | 262,688    |            |            | 256,488    |             |             |             |             |
| Machinery and equipment                               |            | 644,092     |            |             | 611,209    |            |            | 634,395    |             |             |             |             |
|                                                       |            | 923,852     |            |             | 896,682    |            |            | 912,259    |             |             |             |             |
| Less accumulated depreciation                         |            | (608,173    | )          |             | (597,257   | )          |            | (597,106   | )           |             |             |             |
|                                                       |            | 315,679     |            |             | 299,425    |            |            | 315,153    |             |             |             |             |
| Other assets                                          |            |             |            |             |            |            |            |            |             |             |             |             |
| Operating lease right-of-use assets                   |            | 37,576      |            |             | 34,472     |            |            | 39,256     |             |             |             |             |
| Goodwill and other intangibles, net                   |            | 143,976     |            |             | 98,029     |            |            | 144,687    |             |             |             |             |
| Investments in unconsolidated affiliates              |            | 79,198      |            |             | 80,985     |            |            | 77,543     |             |             |             |             |
| Deferred income taxes                                 |            | 23,085      |            |             | 15,582     |            |            | 20,954     |             |             |             |             |
| Other noncurrent assets                               |            | 44,661      |            |             | 47,333     |            |            | 43,711     |             |             |             |             |
|                                                       |            | 328,496     |            |             | 276,401    |            |            | 326,151    |             |             |             |             |
|                                                       |            |             |            |             |            |            |            |            |             |             |             |             |
| Total assets                                          |            | $           | 2,106,840  |             |            | $          | 2,177,884  |            |             | $           | 2,120,921   |             |

---

| 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   |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------|:------------|:-----------|:------------|:-----------|:-----------|:-----------|:-----------|:------------|:------------|:------------|:------------|
|                                                                                                                                                                                    |            |             |            |             |            |            |            |            |             |             |             |             |
|                                                                                                                                                                                    |            |             |            |             |            |            |            |            |             |             |             |             |
|                                                                                                                                                                                    |            | June 30,    |            | June 30,    |            | March 31,  |            |            |             |             |             |             |
|                                                                                                                                                                                    |            | 2020        |            | 2019        |            | 2020       |            |            |             |             |             |             |
|                                                                                                                                                                                    |            | (Unaudited) |            | (Unaudited) |            |            |            |            |             |             |             |             |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                               |            |             |            |             |            |            |            |            |             |             |             |             |
| Current liabilities                                                                                                                                                                |            |             |            |             |            |            |            |            |             |             |             |             |
| Notes payable and overdrafts                                                                                                                                                       |            | $           | 92,758     |             |            | $          | 73,640     |            |             | $           | 78,033      |             |
| Accounts payable and accrued expenses                                                                                                                                              |            | 133,621     |            |             | 179,297    |            |            | 140,202    |             |             |             |             |
| Accounts payable—unconsolidated affiliates                                                                                                                                         |            | —           |            |             | 10         |            |            | 55         |             |             |             |             |
| Customer advances and deposits                                                                                                                                                     |            | 10,575      |            |             | 4,397      |            |            | 10,242     |             |             |             |             |
| Accrued compensation                                                                                                                                                               |            | 16,373      |            |             | 23,084     |            |            | 23,710     |             |             |             |             |
| Income taxes payable                                                                                                                                                               |            | 2,359       |            |             | 1,576      |            |            | 5,334      |             |             |             |             |
| Current portion of operating lease liabilities                                                                                                                                     |            | 9,914       |            |             | 8,938      |            |            | 9,823      |             |             |             |             |
| Current portion of long-term debt                                                                                                                                                  |            | —           |            |             | —          |            |            | —          |             |             |             |             |
| Total current liabilities                                                                                                                                                          |            | 265,600     |            |             | 290,942    |            |            | 267,399    |             |             |             |             |
|                                                                                                                                                                                    |            |             |            |             |            |            |            |            |             |             |             |             |
| Long-term debt                                                                                                                                                                     |            | 368,829     |            |             | 368,568    |            |            | 368,764    |             |             |             |             |
| Pensions and other postretirement benefits                                                                                                                                         |            | 70,473      |            |             | 59,364     |            |            | 70,680     |             |             |             |             |
| Long-term operating lease liabilities                                                                                                                                              |            | 24,040      |            |             | 23,098     |            |            | 25,893     |             |             |             |             |
| Other long-term liabilities                                                                                                                                                        |            | 75,130      |            |             | 52,387     |            |            | 69,427     |             |             |             |             |
| Deferred income taxes                                                                                                                                                              |            | 24,435      |            |             | 31,447     |            |            | 29,474     |             |             |             |             |
| Total liabilities                                                                                                                                                                  |            | 828,507     |            |             | 825,806    |            |            | 831,637    |             |             |             |             |
|                                                                                                                                                                                    |            |             |            |             |            |            |            |            |             |             |             |             |
| Shareholders’ equity                                                                                                                                                               |            |             |            |             |            |            |            |            |             |             |             |             |
| Universal Corporation:                                                                                                                                                             |            |             |            |             |            |            |            |            |             |             |             |             |
| Preferred stock:                                                                                                                                                                   |            |             |            |             |            |            |            |            |             |             |             |             |
| Series A Junior Participating Preferred Stock, no par value, 500,000 shares authorized, none issued or outstanding                                                                 |            | —           |            |             | —          |            |            | —          |             |             |             |             |
| Common stock, no par value, 100,000,000 shares authorized 24,488,964 shares issued and outstanding at June 30, 2020 (24,971,489 at June 30, 2019 and 24,421,835 at March 31, 2020) |            | 322,449     |            |             | 325,515    |            |            | 321,502    |             |             |             |             |
| Retained earnings                                                                                                                                                                  |            | 1,064,927   |            |             | 1,084,987  |            |            | 1,076,760  |             |             |             |             |
| Accumulated other comprehensive loss                                                                                                                                               |            | (151,132    | )          |             | (100,161   | )          |            | (151,597   | )           |             |             |             |
| Total Universal Corporation shareholders' equity                                                                                                                                   |            | 1,236,244   |            |             | 1,310,341  |            |            | 1,246,665  |             |             |             |             |
| Noncontrolling interests in subsidiaries                                                                                                                                           |            | 42,089      |            |             | 41,737     |            |            | 42,619     |             |             |             |             |
| Total shareholders' equity                                                                                                                                                         |            | 1,278,333   |            |             | 1,352,078  |            |            | 1,289,284  |             |             |             |             |
|                                                                                                                                                                                    |            |             |            |             |            |            |            |            |             |             |             |             |
| Total liabilities and shareholders' equity                                                                                                                                         |            | $           | 2,106,840  |             |            | $          | 2,177,884  |            |             | $           | 2,120,921   |             |

---

| Column 1                                                                              | Column 2   | Column 3                    | Column 4   | Column 5   | Column 6   | Column 7   | Column 8   | Column 9   |
|:--------------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
|                                                                                       |            |                             |            |            |            |            |            |            |
|                                                                                       |            |                             |            |            |            |            |            |            |
|                                                                                       |            | Three Months Ended June 30, |            |            |            |            |            |            |
|                                                                                       |            | 2020                        |            | 2019       |            |            |            |            |
|                                                                                       |            | (Unaudited)                 |            |            |            |            |            |            |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                 |            |                             |            |            |            |            |            |            |
| Net income                                                                            |            | $                           | 6,900      |            |            | $          | 895        |            |
| Adjustments to reconcile net income to net cash used by operating activities:         |            |                             |            |            |            |            |            |            |
| Depreciation and amortization                                                         |            | 10,105                      |            |            | 9,067      |            |            |            |
| Net provision for losses (recoveries) on advances and guaranteed loans to suppliers   |            | 57                          |            |            | (165       | )          |            |            |
| Foreign currency remeasurement (gain) loss, net                                       |            | (4,691                      | )          |            | (1,497     | )          |            |            |
| Foreign currency exchange contracts                                                   |            | (13,951                     | )          |            | 733        |            |            |            |
| Restructuring payments                                                                |            | (2,937                      | )          |            | —          |            |            |            |
| Change in estimated fair value of contingent consideration for FruitSmart acquisition |            | (4,173                      | )          |            | —          |            |            |            |
| Other, net                                                                            |            | (3,350                      | )          |            | 3,047      |            |            |            |
| Changes in operating assets and liabilities, net                                      |            | 12,087                      |            |            | (128,819   | )          |            |            |
| Net cash provided (used) by operating activities                                      |            | 47                          |            |            | (116,739   | )          |            |            |
|                                                                                       |            |                             |            |            |            |            |            |            |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                 |            |                             |            |            |            |            |            |            |
| Purchase of property, plant and equipment                                             |            | (8,386                      | )          |            | (5,679     | )          |            |            |
| Proceeds from sale of property, plant and equipment                                   |            | 218                         |            |            | 226        |            |            |            |
| Net cash used by investing activities                                                 |            | (8,168                      | )          |            | (5,453     | )          |            |            |
|                                                                                       |            |                             |            |            |            |            |            |            |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                 |            |                             |            |            |            |            |            |            |
| Issuance of short-term debt, net                                                      |            | 20,688                      |            |            | 19,257     |            |            |            |
| Repurchase of common stock                                                            |            | —                           |            |            | (5,214     | )          |            |            |
| Dividends paid on common stock                                                        |            | (18,567                     | )          |            | (18,742    | )          |            |            |
| Other                                                                                 |            | (1,930                      | )          |            | (2,883     | )          |            |            |
| Net cash provided (used) by financing activities                                      |            | 191                         |            |            | (7,582     | )          |            |            |
|                                                                                       |            |                             |            |            |            |            |            |            |
| Effect of exchange rate changes on cash                                               |            | 515                         |            |            | 214        |            |            |            |
| Net decrease in cash and cash equivalents                                             |            | (7,415                      | )          |            | (129,560   | )          |            |            |
| Cash and cash equivalents at beginning of year                                        |            | 107,430                     |            |            | 297,556    |            |            |            |
|                                                                                       |            |                             |            |            |            |            |            |            |
| Cash and cash equivalents at end of period                                            |            | $                           | 100,015    |            |            | $          | 167,996    |            |

---

| Column 1                                                                          | Column 2   | Column 3                    | Column 4   | Column 5   | Column 6   | Column 7   | Column 8   | Column 9   |
|:----------------------------------------------------------------------------------|:-----------|:----------------------------|:-----------|:-----------|:-----------|:-----------|:-----------|:-----------|
|                                                                                   |            |                             |            |            |            |            |            |            |
|                                                                                   |            |                             |            |            |            |            |            |            |
|                                                                                   |            | Three Months Ended June 30, |            |            |            |            |            |            |
|                                                                                   |            | 2020                        |            | 2019       |            |            |            |            |
|                                                                                   |            | (Unaudited)                 |            |            |            |            |            |            |
| Sales and other operating revenues                                                |            | $                           | 315,811    |            |            | $          | 296,915    |            |
| Costs and expenses                                                                |            |                             |            |            |            |            |            |            |
| Cost of goods sold                                                                |            | 262,046                     |            |            | 238,265    |            |            |            |
| Selling, general and administrative expenses                                      |            | 49,410                      |            |            | 51,136     |            |            |            |
| Other income                                                                      |            | (4,173                      | )          |            | —          |            |            |            |
| Operating income                                                                  |            | 8,528                       |            |            | 7,514      |            |            |            |
| Equity in pretax earnings (loss) of unconsolidated affiliates                     |            | (7                          | )          |            | 40         |            |            |            |
| Other non-operating income (expense)                                              |            | (18                         | )          |            | 627        |            |            |            |
| Interest income                                                                   |            | 159                         |            |            | 1,008      |            |            |            |
| Interest expense                                                                  |            | 6,810                       |            |            | 4,028      |            |            |            |
| Income before income taxes and other items                                        |            | 1,852                       |            |            | 5,161      |            |            |            |
| Income taxes                                                                      |            | (5,048                      | )          |            | 4,266      |            |            |            |
| Net income                                                                        |            | 6,900                       |            |            | 895        |            |            |            |
| Less:  net loss (income) attributable to noncontrolling interests in subsidiaries |            | 374                         |            |            | 1,177      |            |            |            |
| Net income attributable to Universal Corporation                                  |            | $                           | 7,274      |            |            | $          | 2,072      |            |
|                                                                                   |            |                             |            |            |            |            |            |            |
| Earnings per share:                                                               |            |                             |            |            |            |            |            |            |
| Basic                                                                             |            | $                           | 0.30       |            |            | $          | 0.08       |            |
| Diluted                                                                           |            | $                           | 0.29       |            |            | $          | 0.08       |            |
|                                                                                   |            |                             |            |            |            |            |            |            |
| Weighted average common shares outstanding:                                       |            |                             |            |            |            |            |            |            |
| Basic                                                                             |            | 24,602,610                  |            |            | 25,158,369 |            |            |            |
| Diluted                                                                           |            | 24,703,579                  |            |            | 25,284,258 |            |            |            |
|                                                                                   |            |                             |            |            |            |            |            |            |
| Total comprehensive income, net of income taxes                                   |            | $                           | 7,209      |            |            | $          | (3,452     | )          |
| Less: comprehensive income attributable to noncontrolling interests               |            | 530                         |            |            | 1,054      |            |            |            |
| Comprehensive income (loss) attributable to Universal Corporation                 |            | $                           | 7,739      |            |            | $          | (2,398     | )          |
|                                                                                   |            |                             |            |            |            |            |            |            |
| Dividends declared per common share                                               |            | $                           | 0.77       |            |            | $          | 0.76       |            |

---

English News:
Universal Corporation Reports First Quarter Results RICHMOND Va Aug 5 2020 PRNewswire George C Freeman III Chairman President and Chief Executive Officer of Universal Corporation NYSE UVV reported net income of 7.3 million or 0.29 per diluted share for the first quarter of fiscal year 2021 which ended on June 30 2020. Those results were up 5.2 million compared with net income of 2.1 million or 0.08 per diluted share for the first quarter of fiscal year 2020. Excluding certain non recurring items detailed in Other Items below net income and diluted earnings per share declined by 4.3 million and 0.17 respectively for the quarter ended June 30 2020 compared to the quarter ended June 30 2019. Operating income of 8.5 million for the quarter ended June 30 2020 increased by 1.0 million compared to operating income of 7.5 million for the quarter ended June 30 2019. Segment operating income was 4.3 million for the first quarter of fiscal year 2021 down 3.2 million compared to the same period last fiscal year mainly as a result of earnings declines in the Other Regions and Other Tobacco Operations segments. Revenues of 315.8 million for the quarter ended June 30 2020 increased by 18.9 million or 6 on higher total sales volumes offset in part by lower sales and leaf prices as well as a less favorable mix. Mr Freeman stated Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year as a result of the COVID 19 pandemic COVID we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. Despite COVID related slowdowns tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30 2020 included inventory that had been uncommitted at March 31 2020 reducing our overall uncommitted inventory levels. As of June 30 2020 our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels and at 20.5 are now just outside our target range. A large portion of the shipped Brazilian volume however was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30 2020 were also impacted by several non recurring items including an adjustment to a contingent consideration for the acquisition of FruitSmart interest expense associated with a disputed foreign tax matter and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. We have seen some reductions in projected global crop sizes for both burley and flue cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. We are prudently monitoring COVID developments around the world and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates which we believe is related to the uncertainties from COVID. I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers growers and other partners during these challenging times. As we move forward in fiscal year 2021 we are focused on keeping our employees safe and running our business efficiently while positioning both our tobacco and non tobacco businesses for future success. As part of our capital allocation strategy we have made and will continue to explore disciplined investments in both tobacco opportunities and non tobacco businesses that we believe will be able to deliver shareholder value. FLUE CURED AND BURLEY LEAF TOBACCO OPERATIONS OTHER REGIONS The Other Regions segment operating loss of 4.3 million for the quarter ended June 30 2020 was 0.5 million greater than the prior years first fiscal quarter operating loss of 3.8 million. Although volumes in Brazil increased in the first quarter of fiscal year 2021 a large portion of the sales consisted of previously uncommitted inventories of lower margin carryover crop tobacco. In addition some volumes in Brazil that were expected to be shipped in the quarter ended June 30 2020 were delayed on limited vessel availability at the port due to COVID. For the first quarter of fiscal year 2021 lower results in Brazil were partially offset by increases in Asia largely due to higher volumes in the Philippines and higher volumes in Africa on carryover crop shipments delayed into the first quarter of fiscal 2021 compared to the same quarter in the prior fiscal year. Selling general and administrative costs for the segment were slightly lower in the quarter ended June 30 2020 as unfavorable foreign remeasurement comparisons mainly in Mozambique were offset by other declines in expenses including lower travel costs compared to the same period in the prior fiscal year. Revenues for the Other Regions segment of 204.7 million for the quarter ended June 30 2020 were up 2.7 million compared to the quarter ended June 30 2019 on higher volumes offset in part by lower sales and leaf prices and processing revenues. NORTH AMERICA Operating income for the North America segment for the quarter ended June 30 2020 of 1.0 million was flat compared to the quarter ended June 30 2019 as higher carryover volumes from the United States and lower expenses in Mexico due to timing offset lower processing volumes in Guatemala in part due to delays resulting from COVID restrictions. Selling general and administrative costs for the North America segment were flat compared to the prior years first fiscal quarter. Revenues for this segment increased by 12.3 million to 39.9 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on higher carryover crop volumes at lower sales and leaf prices as well as a more favorable product mix. OTHER TOBACCO OPERATIONS The Other Tobacco Operations segment operating income of 7.6 million for the first quarter of fiscal year 2021 reflected a decrease of 2.9 million compared to operating income of 10.5 million for this segment in the same period last year. Results from our dark tobacco operations were lower on reduced volumes in part due to delays from COVID and lower costs in the prior year. In the quarter ended June 30 2020 results for the oriental joint venture were flat and operating income for the segment benefited from the acquisition in January 2020 of FruitSmart our new fruit and vegetable processing business compared to the same quarter last fiscal year. Selling general and administrative costs for the segment were down compared with the prior years first fiscal quarter mainly due to favorable foreign currency remeasurement comparisons primarily in Indonesia offset in part by the addition of costs for the new FruitSmart business. Revenues for this segment increased by 4.0 million to 71.2 million for the quarter ended June 30 2020 compared to the same period in the prior fiscal year on the addition of our FruitSmart business partially offset by lower dark tobacco sales. OTHER ITEMS Cost of goods sold in the quarter ended June 30 2020 of 262.0 million increased by about 10 compared with the same period last year as a result of higher sales volumes coupled with a less favorable mix. Interest expense for the quarter ended June 30 2020 increased by 2.8 million to 6.8 million compared with the same quarter in the prior year largely on a non recurring interest expense item associated with an uncertain tax matter at a foreign subsidiary. Selling general and administrative costs for the first quarter of fiscal year 2021 decreased by 1.7 million to 49.4 million compared with the same period in the prior year as benefits from positive net foreign currency remeasurement and exchange variances primarily in Indonesia and lower travel costs were offset in part by selling general and administrative costs for the FruitSmart business acquired in in the fourth quarter of fiscal year 2020. The following tables set forth certain non recurring items included in reported results to reconcile adjusted operating income to consolidated operating income and adjusted net income to net income attributable to Universal Corporation Adjusted Operating Income Reconciliation Three Months Ended June 30 in millions 2020 2019 As Reported Consolidated operating income 8528 7514 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Adjusted operating income 4355 7514 Adjusted Net Income and Diluted Earnings Per Share Three Months Ended June 30 in millions and reported net of income taxes 2020 2019 As Reported Net income available to Universal Corporation 7274 2072 Fair value adjustment to contingent consideration for FruitSmart acquisition1 4173 Interest expense related to an uncertain tax matter at a foreign subsidiary 1849 Income tax benefit from dividend withholding tax liability reversal2 4421 Income tax settlement for a foreign subsidiary3 2766 Adjusted Net income available to Universal Corporation 529 4838 As reported Diluted earnings per share 0.29 0.08 As adjusted Diluted earnings per share 0.02 0.19 1 The Company reversed a portion of the contingent consideration liability for the FruitSmart Inc acquisition as a result of forecasted performance metrics that are not expected to meet the required threshold stipulated in the purchase agreement. 2 The Company recognized an income tax benefit for final US tax regulations on certain dividends paid by foreign subsidiaries in a prior fiscal year. 3 During the 1st quarter of fiscal year2020 the Company recognized an income tax settlement charge related to operations at a foreign subsidiary. For the three months ended June30 2020 the Company reported a net tax benefit on pretax earnings of 5.0 million mainly due to a 4.4 million benefit for final tax regulations issued in the quarter regarding the treatment of dividends paid by foreign subsidiaries. Without this benefit income taxes for the quarter ended June 30 2020 would have been a benefit of approximately 0.6 million. For the three months ended June 30 2019 the Companys income tax expense of 4.3 million included a 2.8 million net tax accrual for a tax settlement at a foreign subsidiary. Without the tax settlement charge income taxes for the quarter ended June 30 2019 would have been approximately 1.5 million or a consolidated effective tax rate of approximately 29. COVID 19 Pandemic Impact On March 11 2020 the World Health Organization declared COVID 19 a pandemic. Foreign governmental organizations and governmental organizations in the United States have taken various actions to combat the spread of COVID including imposing stay at home orders and closing non essential businesses and their operations. We continue to closely monitor developments related to the ongoing COVID pandemic and have taken and continue to take steps intended to mitigate the potential risks to us. It is paramount that our employees who operate our businesses are safe and informed. We have assessed and regularly update our existing business continuity plans for our business in the context of this pandemic. For example we have taken precautions with regard to employee and facility hygiene imposed travel limitations on our employees directed certain employee groups to work remotely whenever possible and we continue to assess protocols designed to protect our employees customers and the public. We continue to work with our suppliers to mitigate the impacts to our supply chain due to the ongoing pandemic. To date we have not experienced a material impact to our supply chain. Since March 2020 we have at times experienced increased volatility in foreign currency exchange rates which we believe is in part related to the continued uncertainties from COVID as well as actions taken by governments and central banks in response to COVID. We expect continued volatility in foreign currency exchange rates during fiscal year 2021 though we cannot reasonably estimate the duration or extent of that volatility. We continue to monitor the impacts of COVID which include slower processing of our products due to controlled staffing in our facilities that could lead to later timing of shipments to our customers. We currently have sufficient liquidity to meet our current obligations and business operations remain fundamentally unchanged other than shipping delays which could impact quarterly comparisons. This is however a rapidly evolving situation and we cannot predict the extent or duration of the ongoing COVID pandemic the effects of it on the global national or local economy including the impacts on our ability to access capital or its effects on our business financial position results of operations and cash flows. We continue to monitor developments affecting our employees customers and operations and will take additional steps to address the spread of COVID and its impacts as necessary. Additional information Amounts described as net income loss and earnings loss per diluted share in the previous discussion are attributable to Universal Corporation and exclude earnings related to non controlling interests in subsidiaries. Adjusted operating income loss adjusted net income loss attributable to Universal Corporation adjusted diluted earnings loss per share and the total for segment operating income loss referred to in this discussion are non GAAP financial measures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as substitutes for operating income loss net income loss attributable to Universal Corporation diluted earnings loss per share cash from operating activities or any other operating or financial performance measure calculated in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. A reconciliation of adjusted operating income loss to consolidated operating income adjusted net income loss attributable to Universal Corporation to consolidated net income loss attributable to Universal Corporation and adjusted diluted earnings loss per share to diluted earnings loss per share are provided in Other Items above. In addition we have provided a reconciliation of the total for segment operating income loss to consolidated operating income loss in Note 3 Operating Segments to the consolidated financial statements. Management evaluates the consolidated Company and segment performance excluding certain significant charges or credits. We believe these non GAAP financial measures which exclude items that we believe are not indicative of our core operating results provide investors with important information that is useful in understanding our business results and trends. This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions readers that any statements contained herein regarding financial condition results of operation and future business plans operations opportunities and prospects for its performance are forward looking statements based upon managements current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results performance or achievements to be materially different from any anticipated results prospects performance or achievements expressed or implied by such forward looking statements. Such risks and uncertainties include but are not limited to impacts of the ongoing COVID 19 pandemic integration of FruitSmart and the impact of the FruitSmart acquisition on future results product purchased not meeting quality and quantity requirements reliance on a few large customers its ability to maintain effective information technology systems and safeguard confidential information anticipated levels of demand for and supply of its products and services costs incurred in providing these products and services timing of shipments to customers changes in market structure government regulation product taxation industry consolidation and evolution changes in exchange rates and interest rates impacts of regulation and litigation on its customers industry specific risks related to its food ingredient business exposure to certain regulatory and financial risks related to climate change changes in estimates and assumptions underlying its critical accounting policies the promulgation and adoption of new accounting standards new government regulations and interpretation of existing standards and regulations and general economic political market and weather conditions. Actual results therefore could vary from those expected. A further list and description of these risks uncertainties and other factors can be found in the Companys Annual Report on Form 10 K for the fiscal year ended March 31 2020 and in other documents the Company files with the Securities and Exchange Commission. This information should be read in conjunction with the Annual Report on Form 10 K for the year ended March 31 2020 and the Form 10 Q for the most recently ended fiscal quarter. The Company cautions investors not to place undue reliance on any forward looking statements as these statements speak only as of the date when made and it undertakes no obligation to update any forward looking statements made. At 500 pm Eastern Time on August 5 2020 the Company will host a conference call to discuss these results. Those wishing to listen to the call may do so by visiting www.universalcorp.com at that time. A replay of the webcast will be available at that site through November 5 2020. A taped replay of the call will be available through August 19 2020 by dialing 855 859 2056. The confirmation number to access the replay is 2771816. Universal Corporation NYSE UVV headquartered in Richmond Virginia sources processes and supplies agri products. Tobacco has been our principal focus since our founding in 1918 and we are the leading global leaf tobacco supplier. We conduct business in more than 30 countries on five continents. Our revenues for the fiscal year ended March 31 2020 were 1.9 billion. For more information on Universal Corporation visit our website at www.universalcorp.com.

Chinese News:
近日环球烟草公布财报，公告显示该公司2020财年第一财季归属于母公司普通股股东净利润为727.40万美元，同比增长251.06%；营业收入为3.16亿美元，同比上涨6.36%。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。该公司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:
米国大手葉タバコ供給企業であるユニバーサル・コーポレーション（NYSE: UVV）は2020年8月5日（現地時間）、2021会計年度第1四半期（2020年4月〜6月期）の業績を発表した。同期の売上高は前年同期比6.36％増の3億1581万ドル、営業利益は同13.50％増の852万8000ドル、純利益は前年同期の207万2000ドルから727万4000ドルへと大幅な増益を記録した。 1株当たり利益（EPS）は基本ベースで0.30ドル（前年同期0.08ドル）、希薄化後ベースで0.29ドル（前年同期0.08ドル）となった。 ユニバーサル・コーポレーションのジョージ・C・フリーマン3世CEOは、「2021会計年度のスタートは比較的ゆるやかだったが、COVID-19（新型コロナウイルス感染症）による影響を受けながらも、主要産地ではタバコ葉の栽培と加工が順調に進展している。第1四半期は季節的要因で例年最も業績が弱い期間だが、今期はCOVID-19対策によるソーシャルディスタンス措置等で、タバコの買い付け時期が遅れ、加工プロセスも一部遅延した。しかし、サプライチェーンや季節的な栽培・収穫には大きな影響を受けていない」とコメントした。 同氏によると、第1四半期はブラジルからの在庫出荷が増加し、未契約在庫の削減に成功したものの、出荷した在庫の多くが利益率の低い繰越在庫だったため、収益に一定の影響を及ぼした。また、非経常項目としてFruitSmart買収に関連する条件付対価の調整、海外子会社の税務問題に関連する利息費用、および海外子会社の配当に関する最終的な税務規制の発行による所得税恩恵などが業績に影響した。 ユニバーサル・コーポレーションは引き続きCOVID-19の影響を慎重に監視しつつ、今後の売上高が年度後半に集中すると予測している。同時に、同社はタバコ以外の事業にも投資を行い、長期的な株主価値の向上を目指す方針だと述べている。

Spanish News:
Universal Corporation ha anunciado los resultados del primer trimestre que finalizó el 30 de junio de 2020. Para el primer trimestre, la empresa anunció que las ventas fueron de 315,811 millones de dólares frente a los 296,915 millones de dólares de hace un año. Los ingresos de explotación fueron de 8,528 millones de dólares, frente a los 7,514 millones de dólares de hace un año. Los ingresos netos fueron de 7,274 millones de dólares, frente a los 2,072 millones de dólares de hace un año. El beneficio básico por acción de las operaciones continuadas fue de 0,3 dólares, frente a los 0,08 dólares de hace un año. El beneficio diluido por acción de las operaciones continuas fue de 0,29 dólares, frente a los 0,08 dólares de hace un año. Mr. Freeman stated, "Our fiscal year 2021 is off to a slow but respectable start as nearly all of our origins continue to make good progress moving through their various tobacco growing and processing activities. The first fiscal quarter is generally the weakest of our fiscal year given seasonal timing. This fiscal year, as a result of the COVID-19 pandemic ("COVID"), we are also experiencing later openings of the tobacco buying seasons and slower processing due to social distancing and other local government safety requirements. We have also had some slower receipts of customer shipping instructions and orders. However, to date we have not seen a material impact to our supply chain or seasonal planting or harvesting requirements. "Despite COVID related slowdowns, tobacco volumes in the first quarter of fiscal year 2021 exceeded those of the first quarter of fiscal year 2020. Volumes shipped out of Brazil in the quarter ended June 30, 2020, included inventory that had been uncommitted at March 31, 2020, reducing our overall uncommitted inventory levels. As of June 30, 2020, our uncommitted inventory levels had declined significantly from fiscal year end 2020 levels, and at 20.5%, are now just outside our target range. A large portion of the shipped Brazilian volume, however, was lower margin carryover crop which impacted results for the quarter. Results for the quarter ended June 30, 2020, were also impacted by several non-recurring items, including an adjustment to a contingent consideration for the acquisition of FruitSmart, interest expense associated with a disputed foreign tax matter, and an income tax benefit from issuance of final tax regulations for dividends paid by foreign subsidiaries. "We have seen some reductions in projected global crop sizes for both burley and flue-cured tobaccos for crop year 2020. We believe that these reflect a positive adjustment to market conditions and that burley tobacco remains in a balanced supply position and that flue-cured tobacco is now in a slight oversupply position. We are also continuing to see very strong demand for natural wrapper tobaccos. "We are prudently monitoring COVID developments around the world, and are projecting that our sales volumes for fiscal year 2021 will be weighted to the back half of the fiscal year in part due to COVID related processing slowdowns and later customer mandated shipment timing. We also have experienced some increased volatility in foreign currency rates, which we believe is related to the uncertainties from COVID. "I am very proud of the success we continue to achieve while operating safely in more than 30 countries around the world during a time of unprecedented and disparate challenges. I believe our commitment to strong local management in our key operating areas has enabled us to react quickly and effectively to these new conditions. Our business is also built on relationships. Having these strong relationships with our customers and suppliers has allowed us to make the new remote interactions work well. I am very pleased and thankful for the hard work of our employees and the continued support of our customers, growers, and other partners during these challenging times.

Greek News:
Η Universal Corporation (UVV) κατέγραψε θετικές καθαρές ταμειακές ροές ύψους $ 0,1 εκατομμυρίων από λειτουργικές δραστηριότητες, κατά το τρίμηνο που έληξε στις 30 Ιουνίου 2020, παρουσιάζοντας αξιοσημείωτη βελτίωση σε σχέση με τις ταμειακές εκροές $ 116,7 εκατομμυρίων την αντίστοιχη περίοδο του προηγούμενου έτους. Αυτή η εξέλιξη αποδίδεται κυρίως στη μειωμένη ανάγκη για κεφάλαιο κίνησης, ως αποτέλεσμα της μειωμένης ανάγκης για κεφάλαιο κίνησης που προήλθε από την παγκόσμια επιβράδυνση στις αγορές και την επεξεργασία καλλιεργειών, αλλά και των χαμηλότερων τιμών του ακατέργαστου καπνού. Παρά τις εξωτερικές προκλήσεις, όπως οι εποχιακές αυξήσεις στα αποθέματα καπνού, η μείωση των ταμειακών απαιτήσεων ενίσχυσε τη ρευστότητα της εταιρείας. Σημειώνεται ότι έως και το τέλος του Μαρτίου 2020, η πανδημία δεν είχε ουσιαστικές επιπτώσεις στις βασικές δραστηριότητες της UVV, πέραν των διακυμάνσεων στις αγορές συναλλάγματος. Η διοίκηση της εταιρείας εκτιμά ότι τα διαθέσιμα ταμειακά αποθέματα, οι λειτουργικές ταμειακές ροές και οι υπάρχουσες πηγές ρευστότητας επαρκούν για την κάλυψη των χρηματοδοτικών της αναγκών τουλάχιστον για τους επόμενους δώδεκα μήνες. Ωστόσο, διατηρεί επιφυλάξεις σχετικά με ενδεχόμενες μελλοντικές καθυστερήσεις σε αποστολές και λοιπές αβεβαιότητες που σχετίζονται με την εξέλιξη της πανδημίας, οι οποίες ενδέχεται να επηρεάσουν τη διάρκεια των αναγκών σε κεφάλαιο κίνησης.

Question:
What trends can be observed in the company’s revenue amount over the past few years? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer:

Question: What trends can be observed in the company’s revenue amount over the past few years? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: multi-year trends as only Q1 2020 ($315.8M) and Q1 2019 ($296.9M) are available, showing 6% year-over-year growth.
News Evidence: "Revenues of 315.8 million for the quarter ended June 30 2020 increased by 18.9 million or 6 on higher total sales volumes" (English), "营业收入为3.16亿美元，同比上涨6.36%" (Chinese), "同期の売上高は前年同期比6.36％増の3億1581万ドル" (Japanese), "las ventas fueron de 315,811 millones de dólares frente a los 296,915 millones de dólares de hace un año" (Spanish)

Question: How does the company’s balance sheet reflect its financial health in terms of total amount of current assets and the ratio of total liability divided by total equity? Please provide only the final result(s); do not include any calculation steps. Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: June 30, 2020: Current assets $1,462.7M, liability/equity ratio 0.65. June 30, 2019: Current assets $1,602.1M, liability/equity ratio 0.61. March 31, 2020: Current assets $1,479.6M, liability/equity ratio 0.65.
News Evidence: None

Question: Are there any significant changes or irregularities in the amount of operating, investing and financing cash flow? Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: Operating cash flow improved from -$116.7M (Q1 2019) to $0.047M (Q1 2020), a $116.7M improvement. Investing outflows increased to -$8.2M from -$5.5M. Financing changed from -$7.6M outflow to $0.2M inflow.
News Evidence: "Η Universal Corporation (UVV) κατέγραψε θετικές καθαρές ταμειακές ροές ύψους $ 0,1 εκατομμυρίων από λειτουργικές δραστηριότητες, κατά το τρίμηνο που έληξε στις 30 Ιουνίου 2020, παρουσιάζοντας αξιοσημείωτη βελτίωση σε σχέση με τις ταμειακές εκροές $ 116,7 εκατομμυρίων την αντίστοιχη περίοδο του προηγούμενου έτους" (Greek)

Question: What is the company's R&D ratio (R&D divided by revenue)? Please provide only the final result(s); do not include any calculation steps. Please quote the piece(s) of news aligned with the finding(s), if any.

Answer: None
News Evidence: None