Latest news with #PyxusInternational
Yahoo
2 days ago
- Business
- Yahoo
Pyxus International Inc (PYYX) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Debt ...
Revenue: Increased by 22% to $2.5 billion for fiscal year 2025. Gross Profit: Increased by 10% to $343 million for fiscal 2025. Operating Income: Increased by 12% to $153 million for the year. Net Income: Achieved $15 million compared to $3 million in the prior year. Adjusted EBITDA: Reached $208 million, up from $194 million in the prior year. Adjusted Free Cash Flow: Generated $152 million during the fiscal year. Debt Reduction: Reduced long-term debt by approximately 25% since March 2024. Fourth Quarter Revenue: Increased by 25% to $502 million. Fourth Quarter Gross Profit: Grew to $67 million from $58 million in the prior year. Fourth Quarter Operating Income: More than doubled to $14 million from $7 million last year. SG&A Expenses: Increased to $171 million from $161 million in the prior year. Interest Coverage Ratio: Improved to 1.6 times from 1.5 times in fiscal year 2024. Inventory: Total inventory at year-end was $762 million compared to $932 million last year. Warning! GuruFocus has detected 6 Warning Signs with PYYX. Release Date: June 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Pyxus International Inc (PYYX) reported a 22% increase in full-year sales, reaching $2.5 billion. The company achieved a 10% increase in annual gross profit, amounting to $343 million for fiscal 2025. Operating income rose by 12% to $153 million, and net income increased to $15 million from $3 million in the prior year. Pyxus International Inc (PYYX) successfully reduced long-term debt by approximately 25% since March 2024. The company reported a significant improvement in its credit profile, with leverage reduced from 4.8 times to 3.7 times, the lowest in over a decade. SG&A expenses increased to $171 million, driven by higher personnel costs and non-cash equity-based compensation expenses. Interest expense remained consistent with the prior year due to increased borrowings from seasonal lines of credit. The company anticipates sales for fiscal year 2026 to be weighted towards the second half, indicating potential volatility in cash flow. Despite debt reduction, the company still faces high-cost debt, with no immediate plans for refinancing. Inventory levels were low at the end of fiscal 2025, necessitating significant investment in inventory replenishment in fiscal 2026. Q: Could you provide more color on why you'd expect sales to be weighted towards the second half of the year? Also, do you expect EBITDA to be weighted to the second half of the year as well? A: As we ended the fiscal year with low inventories, we are replenishing these in the first half of the year. Shipments are expected to be more weighted to the second half as we purchase, commit, process, and then ship. Both volume and EBITDA are driven by these characteristics. - J. Pieter Sikkel, President, CEO Q: Your guidance is for revenue to be down slightly year over year at the midpoint, and EBITDA up mid-single digits. What does that assume for full-year volumes and the pricing environment? A: We anticipate larger crop sizes leading to reduced pricing. We are positioned to purchase tobacco according to quality and transfer those prices to customers. This results in increased volumes, higher gross margins, and reflects in our guidance. - J. Pieter Sikkel, President, CEO Q: Given your lower-than-normal inventory balance at the end of the year, what's your view on free cash flow? Can you sustain the lower net debt balance? A: We expect a more normalized purchasing pattern and will continue our disciplined working capital approach. We were cash generative before working capital changes, highlighting our focus on disciplined management and improved operating performance. - Dustin Styons, Interim CFO Q: Could you update us on what's happening with the Philip Morris International heat-not-burn product in the United States? A: We are involved in the supply chain for these products, which aligns with our strategy to meet reduced risk product requirements. We see this as positive for our business, but we don't have a specific launch date for the U.S. yet. - J. Pieter Sikkel, President, CEO Q: I noticed there was no entry for the share repurchase in your cash flow statement. Why is that? A: The repurchase is captured in the statement of stockholders' equity and is included in the cash flow, though not highlighted separately. It is clear on the shareholders' equity statement. - Dustin Styons, Interim CFO Q: With improved credit metrics, what are your thoughts on improving your capital structure or refinancing high-cost debt? A: We are continuing to evaluate our strategic options, but there are no key updates related to refinancing efforts at this time. - Dustin Styons, Interim CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
3 days ago
- Business
- Washington Post
Pyxus: Fiscal Q4 Earnings Snapshot
MORRISVILLE, N.C. — MORRISVILLE, N.C. — Pyxus International Inc. (PYYX) on Tuesday reported a loss of $5.1 million in its fiscal fourth quarter. On a per-share basis, the Morrisville, North Carolina-based company said it had a loss of 20 cents. The tobacco company posted revenue of $501.7 million in the period.
Yahoo
13-05-2025
- Business
- Yahoo
Pyxus Upsizes Asset-Based Lending Facility with PNC Bank
MORRISVILLE, N.C., May 13, 2025 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, is pleased to announce the amendment of its asset-based lending (ABL) credit facility with PNC Bank, which was initially established February 8, 2022. As part of the amendment, the Company will have access to increased borrowing availability, lower interest rates and fees in the credit agreement, and an extended maturity date. "The successful completion of the new ABL facility highlights the strength of our partnership with PNC and demonstrates our continued progress in enhancing our credit profile," said Dustin Styons, Pyxus' interim CFO. "These amendments further strengthen our capital structure, increase our financial and operational flexibility, and reinforce our commitment to maintaining a disciplined and strategic approach to credit improvement." The amended agreement provides Pyxus with access to an additional $30 million of funding, increasing the committed facility size to $150 million. It also reduces the interest rate margin by 25 basis points annually, from 300 basis points to 275 basis points, as well as reducing or eliminating several other fees in the credit agreement. About Pyxus International, Inc. Pyxus International, Inc. ("Pyxus" or the "Company") is a global agricultural company with more than 150 years of experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable products and ingredients. For more information, visit Cautionary Statement Regarding Forward-Looking Statements Readers are cautioned that the statements contained in this report regarding expectations of our performance or other matters that may affect our business, results of operations, or financial condition are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements, which are based on current expectations of future events, may be identified by the use of words such as "guidance", "strategy," "expects," "continues," "plans," "anticipates," "believes," "will," "estimates," "intends," "projects," "goals," "targets," and other words of similar meaning. These statements also may be identified by the fact that they do not relate strictly to historical or current facts. If underlying assumptions prove inaccurate, or if known or unknown risks or uncertainties materialize, actual results could vary materially from those anticipated, estimated, or projected. These risks and uncertainties include those discussed in our Annual Report on Form 10-K for the year ended March 31, 2024, our most recent Quarterly Report on Form 10-Q, and in our other filings with the Securities and Exchange Commission. These risks and uncertainties include: our reliance on a small number of significant customers; continued vertical integration by our customers; global shifts in sourcing customer requirements, the imposition of tariffs and other changes in international trade policies; shifts in the global supply and demand position for tobacco products; variation in our financial results due to growing conditions, customer indications and other factors; loss of confidence in us by our customers, farmers and other suppliers; migration of suppliers who have historically grown tobacco and from whom we have purchased tobacco toward growing other crops; risks related to our advancement of inputs to tobacco suppliers to be settled upon the suppliers delivering us unprocessed tobacco at the end of the growing season; risks that the tobacco we purchase directly from suppliers will not meet our customers' quality and quantity requirements; weather and other environmental conditions that can affect the quantity and marketability of our inventory; international business risks, including unsettled political conditions, uncertainty in the enforcement of legal obligations, including the collection of accounts receivable, fraud risks, expropriation, import and export restrictions, exchange controls, inflationary economies, currency risks and risks related to the restrictions on repatriation of earnings or proceeds from liquidated assets of foreign subsidiaries; many of our operations are located in jurisdictions that pose a high risk of potential violations of the Foreign Corrupt Practices Act; risks and uncertainties related to geopolitical conflicts, including the conflicts in the Middle East and disruptions affecting Red Sea shipping; impacts of international sanctions on our ability to sell or source tobacco in certain regions; exposure to foreign tax regimes in which the rules are not clear, are not consistently applied and are subject to sudden change; fluctuations in foreign currency exchange and interest rates; competition with the other primary global independent leaf tobacco merchant and independent leaf merchants; disruption, failure or security breaches of our information technology systems and other cybersecurity risks; continued high inflation; regulations regarding environmental matters; risks related to our capital structure, including risks related to our significant debt and our ability to continue to finance our non-U.S. local operations with uncommitted short-term operating credit lines at the local level; our ability to continue to access capital markets to obtain long-term and short-term financing; potential failure of foreign banks in which our subsidiaries maintain deposits or the failure by such banks to transfer funds or honor withdrawals; the risk that, because our ability to generate cash depends on many factors beyond our control, we may be unable to generate the significant amount of cash required to service our indebtedness; our ability to refinance our current credit facilities at the same availability or at similar or reduced interest rates; failure to achieve our stated goals, which may adversely affect our liquidity; developments with respect to our liquidity needs and sources of liquidity; the volatility and disruption of global credit markets; failure by counterparties to derivative transactions to perform their obligations; increasing scrutiny and changing expectations from governments, as well as other stakeholders such as investors and customers, with respect to our environmental, social and governance policies, including sustainability policies; inherent risk of exposure to product liability claims, regulatory action and litigation facing our e-liquids business if its products are alleged to have caused significant loss, injury, or death; certain shareholders have the ability to exercise controlling influence on various corporate matters; reductions in demand for consumer tobacco products; risks and uncertainties related to pandemics or other widespread health crises and any related shipping constraints, labor shortages and supply-chain impacts; legislative and regulatory initiatives that may reduce consumption of consumer tobacco products and demand for our services and increase regulatory burdens on us or our customers; government actions that significantly affect the sourcing of tobacco, including governmental actions to identify and assess crop diversification initiatives and alternatives to leaf tobacco growing in countries whose economies depend upon tobacco production; governmental investigations into the Company's business activities, including but not limited to, leaf tobacco industry buying and other payment practices; and impact of proposed regulations to prohibit the sale of cigarettes and certain other tobacco products in the United States other than low-nicotine versions of those products. The Company does not undertake to update any forward-looking statements that we may make from time to time except to the extent required by law. View original content to download multimedia: SOURCE Pyxus International, Inc.
Yahoo
14-02-2025
- Business
- Yahoo
Pyxus Announces Departure of CFO
MORRISVILLE, N.C., Feb. 14, 2025 /PRNewswire/ -- Pyxus International, Inc. (OTC Pink: PYYX), a global value-added agricultural company, today announced the resignation of Flavia Landsberg, the Company's executive vice president and chief financial officer, effective February 28, 2025. Landsberg, who joined Pyxus in 2021, has elected to pursue an external career opportunity. Following Landsberg's notice of resignation, the Company's Board of Directors appointed Dustin Styons, Pyxus' executive vice president, business strategy and sales, as interim CFO and will commence a formal search for Landsberg's successor. "We thank Flavia for her contributions during her tenure, which are evidenced by the significant improvements in all measures of our operating performance and reduction of long-term debt," said Pyxus President and CEO Pieter Sikkel. "We wish Flavia all the best in her new role as we work to build on the financial strategy she helped put in place." About Pyxus International, International, Inc. ("Pyxus" or the "Company") is a global agricultural company with more than 150 years of experience delivering value-added products and services to businesses and customers. Driven by a united purpose—to transform people's lives, so that together we can grow a better world—Pyxus, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable products and ingredients. For more information, visit View original content to download multimedia: SOURCE Pyxus International, Inc.
