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Pyxus International, Inc., an agricultural company, engages in the provision of various agricultural products, ingredients, and services to businesses and customers. It offers leaf tobacco; e-liquids used in vaporizers, electronic cigarettes, and other vaping hardware and accessories; and industrial hemp-derived cannabidiol products. Formerly known as Old Holdco, Inc., Pyxus International, Inc. was founded in 1873 and is headquartered in Morrisville, North Carolina.
In recent news, Pyxus International has been recognized as a Supplier Engagement Leader by CDP for its effective collaboration with suppliers in addressing climate change. The company has displayed an 11 percent reduction in value-chain related emissions, surpassing industry, North America, and global averages as per its 2023 Supplier Engagement Rating.
Pyxus International (OTC Pink: PYYX) has released its Fiscal Year 2024 Sustainability Report, highlighting significant environmental and social achievements. The company has reduced total emissions by 14% since its 2020 base year and decreased water withdrawal by 17%. Notable accomplishments include enhancing consumer packaging sustainability by 16% year-over-year, with 71% of packaging now being reusable, recyclable, or compostable.
The company achieved a lost-time injury rate of 0.28, representing a 32% reduction from the previous year. Their community support initiatives benefited approximately 190,000 people. The report, prepared with reference to GRI Standards and aligned with UN Sustainable Development Goals, covers performance from April 1, 2023, to March 31, 2024, with 11 externally verified KPIs.
Pyxus International (OTC Pink: PYYX) reported Q2 FY2025 results with sales of $566.3 million, down 9.3% from $624.3 million in Q2 FY2024. First-half revenues grew 9.1% to $1.2 billion. Q2 gross profit was $75.4 million (13.3% margin) versus $88.7 million (14.2%) last year. The company increased its FY2025 guidance, projecting sales of $2.15-2.35 billion and adjusted EBITDA of $175-195 million. Q2 operating income was $33.0 million with a net loss of $3.2 million. The company successfully managed El Niño impacts through regional diversification and operational strategies.
Pyxus International (OTC Pink: PYYX) announced it will release its Q2 FY2025 financial results on November 12, 2024. The company will host an earnings conference call and webcast at 9 a.m. EST. The results will cover the three and six months ended September 30, 2024. Investors can join via phone at (646) 828-8193 or (888) 204-4368 using conference ID 6796333, or through the company's webcast. Financial results and presentation materials will be available on the investor relations webpage, with an archived recording accessible after the call.
Pyxus International (OTC Pink: PYYX) has announced its upcoming second quarter fiscal year 2025 financial results release and earnings call, scheduled for Tuesday, November 12, 2024, at 9 a.m. EST. The company will disclose financial results for the three and six months ended September 30, 2024.
Investors and analysts can participate by dialing (646) 828-8193 or (888) 204-4368 with conference ID 6796333. A webcast will be available, and for those unable to join live, an archived recording will be accessible on the company's investor relations webpage.
Pyxus International is a global agricultural company with over 150 years of experience, focused on delivering value-added products and sustainable, traceable ingredients.
Pyxus International (OTC Pink: PYYX) has retired $20.4 million of its 10% Senior Secured Notes due 2024, completing its planned elimination of $142.9 million in long-term debt. This includes recent discounted repurchases of 8.50% Senior Secured Notes and Senior Secured Pyxus Term Loans due in 2027. The company has reduced its long-term debt from $600.6 million to $457.6 million, representing a 23.8% decrease.
CEO Pieter Sikkel stated that this disciplined approach to working capital management has strengthened the business, improved the balance sheet, and reinforced Pyxus' market position. The company aims to further reduce borrowing costs and evaluate opportunities for a more cost-effective capital structure.
Pyxus International (OTC Pink: PYYX) has announced the appointment of David Singer as senior vice president, chief legal officer and secretary. Singer, who previously worked for Pyxus from 2018 to 2022, brings nearly 20 years of experience to the role. He will report directly to CEO Pieter Sikkel and join the executive management team.
Singer's appointment comes as Will O'Quinn, who has held the position since 2011, transitions to a new role as SVP, Special Projects. The company emphasized Singer's legal expertise, strategic insight, and familiarity with Pyxus' operations as key factors in his selection, particularly given the company's global footprint and regulatory complexities.
Pyxus International (OTC Pink: PYYX) reported strong Q1 fiscal 2025 results, with sales growing 33.1% to $634.9 million. The company achieved operating income of $40.5 million and net income of $4.6 million. Adjusted EBITDA increased 26% to $55.0 million.
Key highlights include:
- 16.9% increase in average market sales price per kilogram
- 11.9% increase in total shipment volume
- Completion of $122.5 million long-term debt repurchase for $95.4 million
- Reiteration of full-year guidance: sales of $2.1-$2.3 billion and adjusted EBITDA of $165-$185 million
The company noted potential margin pressure in coming quarters due to El Niño impacts and shipping container shortages.
Pyxus International, Inc. (OTC Pink: PYYX), a global agricultural company, has announced its upcoming first quarter fiscal year 2025 financial results earnings call. The call is scheduled for August 7, 2024, at 9 a.m. EST. Investors and analysts can participate by dialing (646) 828-8193 or (888) 254-3590 with conference ID 3196395. A live webcast will also be available.
Prior to the call, Pyxus will release a press release detailing its financial results for the quarter ended June 30, 2024. This information, along with a presentation, will be accessible on the company's investor relations webpage. An archived recording of the call will be made available shortly after the event.
On June 13, 2024, Pyxus International announced that its greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi). The approval includes Pyxus' scope 1, 2, and 3 near-term targets. By 2030, Pyxus aims to cut its direct and indirect emissions by 42% and its value chain-related emissions by 25%, compared to 2020 levels. The company has already achieved a 9% reduction in absolute emissions since its base year, largely through alternative fuel sources. This milestone aligns Pyxus with the Paris Agreement's objective to limit global warming to 1.5°C.
Pyxus International reported strong fiscal year 2024 results, with a 6.1% increase in revenue to $2.0 billion and a gross margin improvement to 15.4%. Operating income rose 46.3% to $137.2 million, leading to a net income of $2.7 million, a significant turnaround from last year's $39.1 million loss. Adjusted EBITDA increased 22.1% to $193.9 million, near the top of guidance. The company also reduced long-term debt by $88.2 million, expecting to complete a $122.5 million debt repurchase by September 2024. For fiscal 2025, Pyxus projects revenues between $2.1 billion and $2.3 billion, and adjusted EBITDA between $165 million and $185 million.
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