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PYYX Pyxus International

Pyxus International, Inc. is a global agricultural company. the company was founded in 1873 and is headquarter in Morrisville, NC.

Company profile

Ticker
PYYX, PYXSQ
Exchange
CEO
J. Pieter Sikkel
Employees
Incorporated
Location
Fiscal year end
CHSSeaboardUniversalAndersonsSunopta ...
Former names
ALLIANCE ONE INTERNATIONAL, INC., DIMON INC
SEC CIK
IRS number
541746567

PYYX stock data

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Calendar

9 Feb 21
11 Apr 21
31 Mar 22
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 20 Mar 19 Mar 18 Mar 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 127.34M 127.34M 127.34M 127.34M 127.34M 127.34M
Cash burn (monthly) 7.3M (positive/no burn) (positive/no burn) 4.78M 2.87M 6.69M
Cash used (since last report) 24.62M n/a n/a 16.14M 9.69M 22.58M
Cash remaining 102.72M n/a n/a 111.2M 117.65M 104.76M
Runway (months of cash) 14.1 n/a n/a 23.2 41.0 15.7

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 Aug 20 Jones Laura Davis Common Stock Other Dispose J Yes No 0.1067 39 4.16 0
24 Aug 20 Jones Laura Davis Common Stock Other Dispose J No No 0.1067 4,742 505.97 0
24 Aug 20 Jones Laura Davis RSU Common Stock Other Dispose J No No 0 833 0 0
24 Aug 20 Jones Laura Davis RSU Common Stock Other Dispose J No No 0 417 0 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 1 1
Opened positions 0 1 EXIT
Closed positions 0 1 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 10.84M 10.84M
Total shares 2.31M 2.31M
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Owl Creek Asset Management 2.31M $10.84M 0.0%
Largest transactions
Shares Bought/sold Change
Owl Creek Asset Management 2.31M 0 0.0%
Donald Smith & Co. 0 0
D. E. Shaw & Co 0 0

Financial report summary

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Competition
Universal
Risks
  • We have substantial debt which may adversely affect us by limiting future sources of financing, interfering with our ability to pay interest, and principal on our indebtedness and subjecting us to additional risks.
  • We require a significant amount of cash to service our indebtedness. Our ability to generate cash depends on many factors beyond our control.
  • We may not be able to refinance or renew our indebtedness, including the ABL Credit Facility, the Term Loans, the Notes, or indebtedness under the TDB Facility Agreement, other seasonal credit lines, or other credit facilities, which may have a material adverse effect on our financial condition.
  • We may not be able to satisfy the covenants included in our financing arrangements, which could result in the default of our outstanding debt obligations.
  • Despite current indebtedness levels, we may still be able to incur substantially more debt. This could exacerbate further the risks associated with our significant leverage.
  • Unanticipated developments with respect to our liquidity needs and sources of liquidity could result in a deficiency in liquidity.
  • The Chapter 11 Cases may have a material adverse impact on our business, financial condition, results of operations, and cash flows.
  • Even though the Plan has been consummated, we may not be able to achieve our stated goals and we cannot assure you of our ability to continue as a going concern.
  • Our Board of Directors was reconstituted in connection with and following the effectiveness of the Plan in the Chapter 11 Cases and may implement changes in our business strategy that could affect the scope of our operations, including the countries in which we continue to operate and the business lines that we continue to pursue, and may result in the recognition of restructuring or asset impairment charges.
  • Our reliance on a small number of significant customers may adversely affect our financial statements.
  • Continued vertical integration by our customers could materially adversely affect our financial statements.
  • Global shifts in sourcing customer requirements may negatively affect our organizational structure and asset base.
  • We may not have access to available capital to finance our local leaf tobacco operations in non-U.S. jurisdictions.
  • Our financial results will vary according to growing conditions, customer indications and other factors, which reduces your ability to gauge our quarterly and annual financial performance.
  • Suppliers who have historically grown tobacco and from whom we have purchased tobacco may elect to grow other crops instead of tobacco, which affects the world supply of tobacco and may impact our quarterly and annual financial performance.
  • Our advancement of inputs to tobacco suppliers could expose us to losses.
  • When we purchase tobacco directly from suppliers, we bear the risk that the tobacco will not meet our customers’ quality and quantity requirements.
  • Weather and other conditions can affect the marketability of our inventory.
  • We face increased risks of doing business due to the extent of our international operations.
  • Failure of foreign banks in which our subsidiaries deposit funds or the failure to transfer funds or honor withdrawals may affect our results of operations.
  • We are subject to the Foreign Corrupt Practices Act (the “FCPA”) and we operate in jurisdictions that pose a high risk of potential FCPA violations.
  • Our exposure to foreign tax regimes, and changes in U.S. or foreign tax regimes, could adversely affect our business.
  • Fluctuations in foreign currency exchange and interest rates could adversely affect our results of operations.
  • Competition could erode our earnings.
  • The results of operations and financial position of our e-liquids businesses may differ materially from the expectations of the Company's management.
  • As the markets in which our e-liquids businesses compete continue to develop, competition from market participants may have a negative impact on their business and prospects.
  • Changing consumer preferences may adversely affect consumer retention and results of operations.
  • Consumer perception and reputational risk may negatively affect the new business lines.
  • Restrictions on our ability to ship e-liquids products to consumers from on-line sales, including recently enacted prohibitions with respect to shipments through on the U.S. Postal Service, could materially adversely affect our e-liquids businesses.
  • Other provisions of the 2021 Appropriations Act significantly increase the federal regulation of the online sale of our nicotine e-liquids products, which may increase our costs and affect the competitiveness of our products as compared to those sold by local retailers, and violations of these regulations could expose us to significant penalties.
  • There are limited long-term data with respect to the efficacy and side effects of the nicotine e-liquids products, and future studies may lead to conclusions that dispute or conflict with the Company's understanding and belief regarding the benefits, viability, safety, efficacy, dosing and social acceptance of such products.
  • Our e-liquids businesses face inherent risk of exposure to product liability claims, regulatory action, and litigation if their products are alleged to have caused significant loss, injury, or death.
  • The Company could incur unexpected expenses due to product recalls and any legal proceedings that may arise in connection with product recalls.
  • Sales contemplated in the CCAA Proceeding may not occur within time periods or at price levels that we would anticipate, in the event that sales or other recoveries do not occur we may be unable to recover finds advanced to the Canadian Cannabis Subsidiaries under the Canadian DIP Facility and Pyxus may be liable under its guarantees of obligations of the Canadian Cannabis Subsidiaries to the extent that those obligations are not fully satisfied by the Canadian Cannabis Subsidiaries in the CCAA Proceeding.
  • Low investment performance by our defined benefit pension plan assets may increase our pension expense, and may require us to fund a larger portion of our pension obligations, thus, diverting funds from other potential uses.
  • We cannot assure you that material weaknesses will not be identified in the future.
  • Regulations regarding environmental matters may affect the Company by substantially increasing the Company's costs and exposing it to potential liability.
  • Derivative transactions may expose us to potential losses and counterparty risk.
  • Upon our emergence from Chapter 11 proceedings, the composition of our shareholder base and concentration of equity ownership changed significantly and, as a result of the concentration of our equity ownership, certain shareholders may have the ability to exercise controlling influence on various corporate matters.
  • The price of our common stock may be negatively impacted by factors that are unrelated to our operations.
  • Our actual financial results may vary significantly from the projections that were filed with the Bankruptcy Court.
  • Reductions in demand for consumer tobacco products could adversely affect our results of operations.
  • Tobacco product manufacturer litigation may reduce demand for our products and services.
  • Legislation and regulatory and other governmental initiatives could impose burdensome restrictions on the tobacco industry and reduce consumption of consumer tobacco products and demand for our services.
  • Government actions can have a significant effect on the sourcing of tobacco. If some of the current efforts are successful, we could have difficulty obtaining sufficient tobacco to meet our customers’ requirements, which could have an adverse effect on our performance and results of operations.
  • We have been subject to governmental investigations into, and litigation concerning, leaf tobacco industry buying and other payment practices.
Management Discussion
  • Sales and other operating revenues increased $16.3 million or 4.5% to $379.6 million for the three months ended December 31, 2020 from $363.3 million for the three months ended December 31, 2019. This increase was due to a 5.4% increase in leaf volume and an increase in cannabinoid revenue attributable to sales occurring in most of the Canadian provinces as well as the launch of the GO! cannabinoid product line. These increases were partially offset by a 1.8% decrease in leaf average sales prices. The 5.4% increase in leaf volume was driven by the timing of shipments in North America and South America and was partially offset by a decrease in volume from smaller crop sizes in Africa and shipping delays in Africa caused by the COVID-19 pandemic. The 1.8% decrease in leaf average sales prices was attributable to product mix in Africa, Asia, and Europe having a lower concentration of lamina and was partially offset by product mix having a higher concentration of lamina in North America and changes in foreign exchange rates in Europe.
Content analysis
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