By Connor Hart

Shares of Universal touched a 52-week high after the company issued an upbeat forecast for its current fiscal year and improved results across its tobacco unit in the recent quarter.

The stock was up 11% to $66.05 on Friday, marking a slight retreat from its earlier high of $67.33. Shares, on pace for their largest percent increase in about six years, have gained 38% in the past 52 weeks.

The Richmond, Va.-based tobacco grower after Thursday's closing bell posted a profit of $14.3 million, or 37 cents a share, for its three months ended March 31, compared with $46.1 million, or $1.61 a share, a year earlier.

Stripping out certain one-time items, adjusted earnings came in at 80 cents a share.

Sales fell to $702.3 million from $770.9 million.

Revenue across the company's tobacco unit grew 7%, boosted in part by what the company called strong customer demand and successful global tobacco marketing and procurement efforts. Universal's ingredients segment notched higher sales, benefiting from increased sales volumes.

Chief Executive Preston Wigner said the company is very encouraged by the interest it has seen from customers for its new products. "As we move into fiscal year 2026, we foresee continued strong demand for tobacco and larger tobacco crops shifting global markets to more balanced tobacco supply positions," he said.

Universal additionally guided for flue-cured and burley tobacco crops grown outside of China to increase by 20% and 30%, respectively, in the current fiscal year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 30, 2025 14:25 ET (18:25 GMT)

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