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Stock impact report

Pyxus International, Inc. Reports Fiscal Year 2020 Third Quarter Results

Pyxus Intl, Inc (PYX)  More Company Research Source: PR Newswire
PDF MORRISVILLE, N.C., Feb. 10, 2020 /PRNewswire/ -- Pyxus International, Inc. (NYSE: PYX), a global value-added agricultural company, today announced results for its fiscal quarter ended December 31, 2019.Quarter HighlightsSales and other operating revenues decreased 30.7% to $363.3 million when compared to last year, due to a decrease in volume and average sale prices. The volume decrease was driven by flue-cured oversupply conditions, shipment timing, and the impact of Hurricane Florence and foreign tariffs in the U.S. Average sale price decrease was driven by a lower concentration of lamina in South American leaf product mix.Gross profit as a percent of sales improved to 15.2% from 14.2% for the same period last year attributable to favorable foreign currency exchange rate fluctuations resulting in lower leaf green inventory prices in Africa and South America.Selling, general, and administrative expense ("SG&A") increased $4.2 million to $45.9 million when compared to last year mainly [Read more]
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