Universal Corporation (NYSE: UVV) recently announced that it received a notice from the New York Stock Exchange (NYSE) regarding its failure to timely file its quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2024, with the U.S. Securities and Exchange Commission (SEC). The company has been given a six-month period from November 18, 2024, to regain compliance with the NYSE listing standards by filing the Form 10-Q with the SEC.
The delay in filing the Form 10-Q was attributed to an ongoing internal investigation, which required additional time to complete, thus affecting the process of finalizing financial statements for the second quarter of fiscal year 2025.
Despite the challenges, Universal Corporation remains committed to completing a deliberate and thorough investigation while diligently working to fulfill all reporting obligations. The company indicated that it currently expects to file the Form 10-Q within the six-month period granted by the NYSE notice, but it also noted that there can be no assurance that the filing will occur within such period.
Universal Corporation, with over 100 years of experience, is a global agricultural company that supplies products and innovative solutions to meet its customers' evolving needs and precise specifications. The company operates through a diverse network of farmers and partners across more than 30 countries on five continents and is recognized as a trusted provider of high-quality, traceable products.
As of the date of the press release, the specific financial metrics for the fiscal quarter ended September 30, 2024, have not been provided. Therefore, the impact of the delayed filing on the company's financial performance for that period remains undisclosed. As a result of these announcements, the company's shares have moved 2.5% on the market, and are now trading at a price of $57.09. If you want to know more, read the company's complete 8-K report here.
