Pyxus International
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Pyxus International Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary11 Feb, 2026

Executive summary

  • Q3 Adjusted EBITDA matched last year's record, supported by strong operational execution, expanded third-party processing, and strategic automation initiatives.

  • Larger crop volumes in South America and Africa increased working capital and inventory, positioning for higher Q4 shipments and profitability.

  • Gross margin percentage improved year-over-year, driven by favorable product mix and increased processing revenues.

  • Sustainability achievements include meeting 2030 waste reduction targets ahead of schedule and a refreshed global strategy.

  • Full-year fiscal 2026 guidance reaffirmed, with expectations for one of the strongest years on record.

Financial highlights

  • Q3 sales were $655.8 million, down from $778 million year-over-year, mainly due to shipment timing and lower average prices.

  • Gross margin for Q3 was 15.2%, up from 15.0% last year, with gross profit at $99.9 million.

  • Operating income for Q3 was $51.3 million, down from $66.1 million year-over-year.

  • Net income attributable to shareholders was $16.9 million, down 10.6% year-over-year.

  • Adjusted EBITDA for Q3 was $80.0 million, flat year-over-year and matching the Q3 record.

Outlook and guidance

  • Full-year fiscal 2026 guidance reaffirmed: net sales expected between $2.4–$2.6 billion and Adjusted EBITDA between $215–$235 million.

  • Q4 is anticipated to be the strongest quarter for sales and cash generation, with significant working capital release.

  • Early signs point to potential oversupply in fiscal 2027, with stable demand and lower acquisition prices expected.

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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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