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Pyxus International Inc (New) (PYYX-2.83%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports an increase in sales and other operating revenues to $1,979.5 million for the nine months ended December 31, 2024, compared to $1,631.2 million for the same period the previous year. This increase is attributed to a rise in average sales prices and higher kilo volumes sold.
Gross profit as a percentage of sales decreased from 15.6% to 13.9% over the same period, primarily due to regional mix and adverse weather effects.
Net income attributable to Pyxus International, Inc. was $20.3 million for the nine-month period, up from $12.7 million in the previous year.
The company reported a gain on debt retirement of $8.2 million, resulting from the repurchase of certain long-term debt at a discount.
Interest expense increased to $101.9 million, up from $95.8 million, due to higher borrowings and increased variable interest rates.
Cash used in operating activities was $171.7 million, compared to $216.8 million in the previous year, driven by changes in working capital requirements.
The company's total debt liabilities were reported at $1,063.3 million as of December 31, 2024, with net debt decreasing due to increased cash receipts.
Pyxus maintains various short-term and long-term credit facilities, with a total borrowing capacity of $1,003.4 million as of December 31, 2024.
The filing also includes updates on the company's securitized receivables facilities, with temporary increases in investment limits effective early 2025.
The report outlines potential risks, including proposed FDA regulations on nicotine levels in cigarettes, which could impact the company's operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pyxus International Inc (New) quarterly 10-Q report dated February 12, 2025. To report an error, please email earnings@qz.com.