Revenue fell on lower leaf tobacco prices and shipment timing, but the agricultural supplier narrowed its net loss, cut net debt and maintained full-year sales and adjusted EBITDA guidance.
Pyxus International reported fiscal first-quarter 2027 sales and other operating revenues of $437.8 million, down from $508.8 million a year earlier, as lower average leaf tobacco prices in South America and Africa and a slight decline in volumes, largely tied to North American shipment timing, weighed on results. Gross profit fell to $61.4 million from $65.6 million, while operating income slipped to $15.7 million from $21.0 million and adjusted EBITDA edged down to $27.7 million from $29.5 million; net loss attributable to Pyxus narrowed to $7.3 million from $15.8 million after the company recorded a $5.7 million income tax benefit versus a $5.2 million tax expense a year earlier. The company said it maintained margin performance in a lower-price, ample-supply market, reduced total leaf inventories, lowered net debt to $1.1087 billion, had no outstanding borrowings on its $150.0 million ABL at quarter-end, and kept fiscal 2027 guidance for net sales of $2.3 billion to $2.5 billion and adjusted EBITDA of $210 million to $240 million.