(RTTNews) - Agriproducts company Universal Corporation (UVV) posted a loss in the fourth quarter loss hurt largely by a goodwill impairment charge and higher tobacco inventory write-downs, which weighed on results, despite slightly higher revenue.
Net loss attributable to Universal was $43.3 million, or $1.73 per diluted share, compared with net income of $9.3 million, or $0.37 per share, a year earlier.
Adjusted loss per share was $0.46, versus adjusted earnings of $0.80 per share last year.
Preston Wigner, Chairman, President, and Chief Executive Officer of Universal, said, "Fourth quarter and fiscal year 2026 results were ultimately impacted by a non-cash, goodwill impairment charge related to our Universal Ingredients-Shank's operation, as well as increased tobacco inventory write-downs, primarily for non-wrapper, dark air-cured tobacco."
Quarterly sales and other operating revenues rose 2% to $715.2 million from $702.3 million a year ago.
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