UNIVERSAL CORP /VA/ Earnings Per Share Disclosure
| Fiscal Year Ended March 31, | |||||||||||||||||
| (in thousands, except share and per share data) | 2026 | 2025 | 2024 | ||||||||||||||
| Basic Earnings Per Share | |||||||||||||||||
| Numerator for basic earnings per share | |||||||||||||||||
| Net income attributable to Universal Corporation | $ | 32,637 | $ | 95,047 | $ | 119,598 | |||||||||||
| Denominator for basic earnings per share | |||||||||||||||||
| Weighted average shares outstanding | 25,037,983 | 24,947,208 | 24,851,858 | ||||||||||||||
Basic earnings per share | $ | 1.30 | $ | 3.81 | $ | 4.81 | |||||||||||
| Diluted Earnings Per Share | |||||||||||||||||
| Numerator for diluted earnings per share | |||||||||||||||||
| Net income attributable to Universal Corporation | $ | 32,637 | $ | 95,047 | $ | 119,598 | |||||||||||
| Denominator for diluted earnings per share: | |||||||||||||||||
| Weighted average shares outstanding | 25,037,983 | 24,947,208 | 24,851,858 | ||||||||||||||
| Effect of dilutive securities | |||||||||||||||||
| Employee and outside director share-based awards | 133,179 | 180,148 | 189,056 | ||||||||||||||
| Denominator for diluted earnings per share | 25,171,162 | 25,127,356 | 25,040,914 | ||||||||||||||
Diluted earnings per share | $ | 1.30 | $ | 3.78 | $ | 4.78 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 1, 2026 | Showing above |
| 2025 | May 30, 2025 | |
| 2024 | May 29, 2024 | |
| 2023 | May 25, 2023 | |
| 2022 | May 27, 2022 | |
| 2021 | May 28, 2021 | |
| 2020 | May 28, 2020 | |
| 2019 | May 24, 2019 | |
| 2018 | May 25, 2018 | |
| 2017 | May 26, 2017 | |
| 2016 | May 27, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.