Pyxus International Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Pyxus International, Inc. has filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>

AI Summary

PYXUS INTERNATIONAL, INC. (PYYX) filed a Quarterly Report (10-Q) with the SEC on February 14, 2024. Pyxus International, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the period from October 1, 2023, to December 31, 2023, and compares it to the prior year's quarter. The company's fiscal year ends on March 31. Pyxus International, Inc. was formerly known as Alliance One International, Inc. and Dimon Inc. The company's principal business address is in Morrisville, North Carolina.

Why It Matters

For investors and stakeholders tracking PYXUS INTERNATIONAL, INC., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Pyxus International, Inc. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — PYXUS INTERNATIONAL, INC. shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting rather than an event-driven disclosure.

Analyst Insight

Monitor future 10-Q filings for trends in revenue, net income, and debt levels to inform investment decisions.

Key Numbers

• 2023-12-31 — Period End Date (Quarterly report period)
• 2023-10-01 — Quarter Start Date (Quarterly report period)
• 2022-10-01 — Prior Year Quarter Start Date (Comparison period)
• 2022-12-31 — Prior Year Quarter End Date (Comparison period)

Key Players & Entities

• PYXUS INTERNATIONAL, INC. (company) — Filer name
• 0000939930 (company) — Central Index Key
• 20231231 (date) — Period of report
• 20240214 (date) — Filed as of date
• ALLIANCE ONE INTERNATIONAL, INC. (company) — Former company name
• DIMON INC (company) — Former company name
• Morrisville, North Carolina (location) — Business address

FAQ

Industry Context

Pyxus International operates in the wholesale - farm product raw materials industry, focusing on agricultural commodities.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of 10-Q quarterly reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Compare the reported quarter's performance against previous periods and industry benchmarks.
3. Analyze any disclosed risk factors or forward-looking statements for potential impacts on the company's future.

Key Dates

• 2023-12-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-02-14: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023. Specific comparative data from the previous filing is not detailed in this header information.

Filing Documents

• pyx-20231231.htm (10-Q) — 1311KB
• pyx-2023x12x31xex10x01.htm (EX-10.01) — 1614KB
• pyx-2023x12x31xex31x01.htm (EX-31.01) — 10KB
• pyx-2023x12x31xex31x02.htm (EX-31.02) — 10KB
• pyx-2023x12x31xex32.htm (EX-32) — 5KB
• pyx-20231231_g1.jpg (GRAPHIC) — 256KB
• 0000939930-24-000007.txt (&nbsp;) — 9832KB
• pyx-20231231.xsd (EX-101.SCH) — 52KB
• pyx-20231231_cal.xml (EX-101.CAL) — 70KB
• pyx-20231231_def.xml (EX-101.DEF) — 193KB
• pyx-20231231_lab.xml (EX-101.LAB) — 684KB
• pyx-20231231_pre.xml (EX-101.PRE) — 413KB
• pyx-20231231_htm.xml (XML) — 1101KB

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Income (Loss ) 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 33 Signature 34 2

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Pyxus International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended Nine Months Ended December 31, December 31, (in thousands, except per share data) 2023 2022 2023 2022 Sales and other operating revenues $ 529,816 $ 655,553 $ 1,631,161 $ 1,507,736 Cost of goods and services sold 437,268 567,752 1,376,802 1,311,861 Gross profit 92,548 87,801 254,359 195,875 Selling, general, and administrative expenses 42,381 37,119 116,477 106,694 Other expense, net 2,323 9,040 6,036 9,106 Restructuring and asset impairment charges 85 35 1,379 4,380 Operating income 47,759 41,607 130,467 75,695 Loss on deconsolidation/disposition of subsidiaries — — — 648 Loss on pension settlement 12,008 — 12,008 2,588 Interest expense, net 31,994 31,361 95,785 85,649 Income (loss) before income taxes and other items 3,757 10,246 22,674 ( 13,190 ) Income tax expense 6,156 17,887 16,360 15,810 Income from unconsolidated affiliates 6,578 5,404 6,531 10,708 Net income (loss) 4,179 ( 2,237 ) 12,845 ( 18,292 ) Net income attributable to noncontrolling interests 344 96 111 241 Net income (loss) attributable to Pyxus International, Inc. $ 3,835 $ ( 2,333 ) $ 12,734 $ ( 18,533 ) Earnings (loss) per share: Basic and diluted $ 0.15 $ ( 0.09 ) $ 0.51 $ ( 0.74 ) Weighted average number of shares outstanding: Basic and diluted 25,000 25,000 25,000 25,000 See "Notes to Condensed Consolidated Financial Statements" 3 Pyxus International, Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) Three Months Ended Nine Months Ended December 31, December 31, (in thousands) 2023 2022 2023 2022 Net income (loss) $ 4,179 $ ( 2,237 ) $ 12,845 $ ( 18,292 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustment 2,185 4,855 1,347 1,001 Pension and other postretirement benefit plans 3,511 ( 78 ) 3,511 ( 1,640 ) Cash fl

View Full Filing

View this 10-Q filing on SEC EDGAR