Pyxus International posts Q2 profit on Brazil facility sale

Pyxus International

Thu 21:54

Overview
Global agricultural firm's Q2 revenue fell yr/yr due to shipment delays and smaller crops
Q2 net income turned positive, aided by Brazil facility sale gain and lower tax expense
Company tightened full-year adjusted EBITDA guidance, citing improved outlook for second half

Outlook
Pyxus sees FY 2027 net sales of $2.3 bln to $2.5 bln
Company narrows FY 2027 Adjusted EBITDA outlook to $215 mln-$235 mln from $210 mln-$240 mln
Company expects delayed shipments to be included in H2 FY 2027 sales

Result Drivers
SHIPMENT DELAYS AND SMALLER CROPS - Co said shipment delays in Asia, Africa and South America, as well as smaller crops in Asia, led to lower leaf volumes sold in Q2
MIXED MARGINS - Improved leaf profitability was offset by lower processing and other revenues in Africa and South America
ONE-TIME GAIN - Q2 net income benefited from a gain on the sale of a tobacco processing facility in Brazil and lower tax expense

Company press release: ID:nPn2PKm6Pa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
$4.03 mln
 
Q2 Adjusted EBITDA
 
$43 mln
 
Q2 Gross Profit
 
$78.91 mln
 
Q2 Operating Income
 
$39.97 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)