• June 15, 2024

Pyxus Completes Strong Fiscal 2024

 Pyxus Completes Strong Fiscal 2024
Photo: Pyxus International

Pyxus International reported sales and other revenue of $ billion in fiscal year 2024, up 6.1 percent over its 2023 results. The company attributed this growth to “consistent execution” and an increase in average pricing of 10.5 percent, partially offset by slightly lower volume of 4.4 percent compared to fiscal 2023. Operating income in increased 46.3 percent to $137.2 million, reflecting a more favorable business mix as well as improved operating efficiencies.

“We achieved strong fiscal year 2024 results through our continued identification and capture of opportunities for growth, acceleration of our operating cycle times, improved working capital efficiency and increased availability of our total liquidity,” said Pyxus’ President and CEO Pieter Sikkel in a statement.

“Our discipline is enabling a significant reduction of long-term debt that strengthens our capital structure and demonstrates our ability to achieve near-term operating and financial objectives while ensuring that the business remains positioned for long-term success.”

For fiscal 2025, Pyxus anticipates sales to range between $2.1 billion and $2.3 billion and adjusted EBITDA to range between $165 million and $185 million. The company believes it is well positioned to successfully navigate an industry operating environment for fiscal 2025 that, due to the El Niño weather phenomenon, is generally expected to have a short-term negative impact on margins.