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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n☑\n\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2025\n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFOR THE TRANSITION PERIOD FROM ______________TO_______________\n\nCommission File Number: 001-00652\n\nUNIVERSAL CORPORATION\n\n(Exact name of registrant as specified in its charter)\n\nVirginia54-0414210\n\n(State or other jurisdiction of\nincorporation or organization)(I.R.S. Employer\nIdentification Number)\n\n9201 Forest Hill Avenue,Richmond,Virginia23235\n\n(Address of principal executive offices)(Zip Code)\n\n804-359-9311\n\n(Registrant's telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading Symbol(s)Name of each Exchange on which registered\n\nCommon Stock, no par valueUVVNew York Stock Exchange\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yesþ No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and \"emerging growth company\" in Rule 12b-2 of the Exchange Act.\n\nLarge Accelerated FilerþAccelerated filer ☐Non-accelerated filer☐\n\nSmaller reporting company ☐Emerging growth company ☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑\n\nAs of February 4, 2026, the total number of shares of common stock outstanding was 24,923,496.\n\nUNIVERSAL CORPORATION\n\nFORM 10-Q\n\nTABLE OF CONTENTS\n\nItem No.Page\n\n[PART I](#i300c9181364a4ff3a9a947fefb6f7ab8_10) - FINANCIAL INFORMATION\n\n1.\n[Financial Statements](#i300c9181364a4ff3a9a947fefb6f7ab8_13)\n\n[3](#i300c9181364a4ff3a9a947fefb6f7ab8_13)\n\n2.\n[Management's Discussion and Analysis of Financial Condition and Results of Operations](#i300c9181364a4ff3a9a947fefb6f7ab8_76)\n\n[26](#i300c9181364a4ff3a9a947fefb6f7ab8_76)\n\n3.\n[Quantitative and Qualitative Disclosures About Market Risk](#i300c9181364a4ff3a9a947fefb6f7ab8_85)\n\n[34](#i300c9181364a4ff3a9a947fefb6f7ab8_85)\n\n4.\n[Controls and Procedures](#i300c9181364a4ff3a9a947fefb6f7ab8_88)\n\n[34](#i300c9181364a4ff3a9a947fefb6f7ab8_88)\n\n[PART II](#i300c9181364a4ff3a9a947fefb6f7ab8_91) - OTHER INFORMATION\n\n1.\n[Legal Proceedings](#i300c9181364a4ff3a9a947fefb6f7ab8_94)\n\n[36](#i300c9181364a4ff3a9a947fefb6f7ab8_94)\n\n[1A.](#i300c9181364a4ff3a9a947fefb6f7ab8_97)\n\n[Risk Factors](#i300c9181364a4ff3a9a947fefb6f7ab8_97)\n\n[36](#i300c9181364a4ff3a9a947fefb6f7ab8_97)\n\n2.\nUnregistered Sales[of Equity Securities](#i300c9181364a4ff3a9a947fefb6f7ab8_100) and Use of Proceeds\n\n[36](#i300c9181364a4ff3a9a947fefb6f7ab8_100)\n\n5.\n[Other Information](#i300c9181364a4ff3a9a947fefb6f7ab8_103)\n\n[36](#i300c9181364a4ff3a9a947fefb6f7ab8_103)\n\n6.\n\n[Exhibits](#i300c9181364a4ff3a9a947fefb6f7ab8_106)\n\n[37](#i300c9181364a4ff3a9a947fefb6f7ab8_106)\n\n[Signatures](#i300c9181364a4ff3a9a947fefb6f7ab8_109)\n\n[38](#i300c9181364a4ff3a9a947fefb6f7ab8_109)\n\n2\n\nPART I. FINANCIAL INFORMATION"}