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Pyxus International (PYYX) investor relations material
Pyxus International Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary12 Nov, 2025
Executive summary
Second quarter results showed solid performance with sales rising to $570.2 million, improved gross margin, and a $13.7 million increase in operating income, driven by higher volumes and accelerated crop purchasing and processing in key markets.
Gross margin expanded to 15.4% from 13.3% year-over-year, and net loss attributable to shareholders narrowed to $0.9 million from $3.2 million.
Year-to-date sales declined 10.2% to $1,079.0 million due to lower carry-over sales, but inventory increased to $1,102.8 million, positioning for strong second-half shipments.
Raised full-year sales guidance to $2.4–$2.6 billion and tightened adjusted EBITDA guidance to $215–$235 million, reflecting improved visibility and execution.
Positioned to fulfill customer orders throughout the second half, with robust liquidity and improved operating cycle efficiency.
Financial highlights
Q2 sales reached $570.2 million, up 0.7% year-over-year, with gross profit of $87.8 million (+16.4% YoY) and operating income of $46.7 million (+41.5% YoY).
Adjusted EBITDA for Q2 was $54.8 million, up from $44.3 million year-over-year; year-to-date Adjusted EBITDA was $84.2 million, down from $99.3 million due to lower carryover sales.
Net loss attributable to shareholders for Q2 was $0.9 million, an improvement from $3.2 million loss in the prior year quarter.
Inventory increased by $160.6 million to $1.14 billion, reflecting larger crops and early purchasing.
Net debt increased by $153.2 million year-over-year, in line with inventory growth.
Outlook and guidance
Full-year sales guidance raised to $2.4–$2.6 billion, up from $2.3–$2.5 billion.
Adjusted EBITDA guidance tightened to $215–$235 million, raising the lower end by $10 million.
Management expects sufficient liquidity for the next twelve months, with strong sales and cash generation anticipated in the second half.
Anticipates steady near-term demand but is prepared for potential oversupply due to projected large crops next season.
Capital expenditures for the remainder of fiscal 2026 are projected at $16.4 million.
How to manage next season's oversupply risk?
Inventory increase impact on net debt?
Detail gross margin expansion drivers.
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Next Pyxus International earnings date
Q3 202611 Feb, 2026
Next Pyxus International earnings date
Q3 202611 Feb, 2026
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Frequently asked questions
Pyxus International Inc. is a global agricultural company focused on providing value-added products and services to the tobacco, e-liquid, industrial hemp, and cannabis markets. The company engages in the procurement, processing, and sale of tobacco to manufacturers of cigarettes and other tobacco products worldwide. In addition to its core tobacco business, Pyxus has diversified into alternative products, including hemp and cannabis, aiming to capitalize on the growing demand for natural and sustainable products. The company leverages its global supply chain and expertise in agriculture to support its operations across multiple sectors. The company is headquartered in Morrisville, North Carolina, and its shares are listed on the OTCQB.
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