Pyxus International, Inc. · OTC:PYYX
Pyxus International — Q1 FY2027 Earnings Presentation
20 slides from Pyxus International's earnings presentation, Aug 5, 2026
Slide 1: First Quarter Results Fiscal Year 2027
First Quarter Results Fiscal Year 2027 August 5, 2026
Slide 2: Our Presenters
Our Presenters Pieter Sikkel Dustin Styons President and Executive Vice President and Chief Executive Officer Chief Financial Officer 2
Slide 3: Forward-looking Statements and Other Matters
Forward-looking Statements and Other Matters Cautionary Statement Regarding Forward-Looking Statements. This presentation includes statements regarding expectations of our performance or other matters that may affect our business, results of operations, or financial condition are "forward-looking st
Slide 4: Strong Start to Fiscal Year 2027 Supports Full-Year Outlook
Strong Start to Fiscal Year 2027 Supports Full-Year Outlook Market Conditions Developing as Expected • Ample global tobacco supply and steady customer demand supported a strong start to fiscal year 2027. • Lower crop prices in key sourcing markets enabled more selective and lower-cost tobacco purcha
Slide 5: Stable Profitability Despite Lower Tobacco Prices and Sales Values
Stable Profitability Despite Lower Tobacco Prices and Sales Values Q1 Gross Margin % Revenue and Margin Performance 14.0% • Revenue of $437.8 million compared with $508.8 million in the prior-year 13.2% 12.9% quarter, primarily reflecting lower tobacco prices and shipment timing. • Gross margin perc
Slide 6: Disciplined Working Capital Management Supports Improved Cash Generation
Disciplined Working Capital Management Supports Improved Cash Generation Total inventory decreased to $1.105 billion from $1.122 billion, reflecting lower crop costs and a more measured purchasing pace. Seasonal lines declined $53 million year over year to $829 million, demonstrating stronger cash g
Slide 7: Improved Cash Generation Despite Seasonal Inventory Investment
Improved Cash Generation Despite Seasonal Inventory Investment LTM adjusted free cash flow1 improved to $123 million, compared with $(81) million in the prior- year period, reflecting stronger cash generation despite seasonal inventory investment. Free cash flow adjusted for changes in working capit
Slide 8: Strong Liquidity & Continued Credit Metric Improvement
Strong Liquidity & Continued Credit Metric Improvement Strong liquidity position, with $175.9M of cash on hand and no borrowings outstanding under the $150M ABL facility, providing flexibility to fund seasonal working capital needs and execute fiscal year 2027 priorities. Leverage improved to 4.9x,
Slide 9: Full-Year Guidance Reaffirmed Following Strong Start to Fiscal Year 2027
Full-Year Guidance Reaffirmed Following Strong Start to Fiscal Year 2027 Full-year revenues expected in a range between $2.3 billion and $2.5 billion Full-year adj. EBITDA expected in a range between $210 million and $240 million • Q1 performance was in line with expectations and supports the full-y
Slide 10: Questions & Answers
Questions & Answers Pieter Sikkel Dustin Styons President and Executive Vice President and Chief Executive Officer Chief Financial Officer 10
Slide 11: Appendix
APPENDIX
Slide 12: Selected First Quarter Income Statement Data
Selected First Quarter Income Statement Data Three Months Ended June 30, Change (in millions) 2026 2025 $ % Sales and other operating revenues $ 437.8 $ 508.8 (71.0) (14.0) Cost of goods and services sold 376.4 443.2 (66.8) (15.1) Gross profit 61.4 65.6 (4.2) (6.4) Selling, general, and administrati
Slide 13: Selected Balance Sheet Data
Selected Balance Sheet Data Change (in millions) June 30, 2026 June 30, 2025 $ % Assets Current assets Cash and cash equivalents $ 175.9 $ 96.4 79.5 82.5 % Restricted cash 3.6 4.9 (1.3) (26.5) % Trade receivables, net 175.7 206.6 (30.9) (15.0) % Other receivables 10.9 16.7 (5.8) (34.7) % Inventories
Slide 14: Appendix – Q1 Adjusted EBITDA
Appendix – Q1 Adjusted EBITDA Three Months Ended (in thousands) June 30, 2026 June 30, 2025 June 30, 2024 Net (loss) income attributable to Pyxus International, Inc. $ (7,280) $ (15,825) $ 4,642 Plus: Interest expense 31,043 30,623 34,475 Plus: Income tax (benefit) expense (5,716) 5,227 6,119 Plus:
Slide 15: Appendix – Full Year Adjusted EBITDA
Appendix – Full Year Adjusted EBITDA Fiscal Year Ended (in thousands) March 31, 2026 March 31, 2025 Net income attributable to Pyxus International, Inc. $ 14,569 $ 15,166 Plus: Interest expense 138,749 133,108 Plus: Income tax expense 30,344 25,053 Plus: Depreciation and amortization expense 20,893
Slide 16: Appendix – Adjusted EBITDA Footnotes
Appendix – Adjusted EBITDA Footnotes (1) Earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted earnings before interest, taxes, depreciation and amortization and ("Adjusted EBITDA") are not measures of results of operations under generally accepted accounting principles
Slide 17: Appendix - Net Debt to Adjusted EBITDA & Interest Coverage
Appendix - Net Debt to Adjusted EBITDA & Interest Coverage Last Twelve Months (2) (in thousands) June 30, 2026 June 30, 2025 Total debt $ 1,284,573 $ 1,336,016 Less: Cash and cash equivalents 175,907 96,437 Net Debt (1) $ 1,108,666 $ 1,239,579 Net Debt /Adjusted EBITDA (1) 4.93x 6.78x Adjusted EBITD
Slide 18: Appendix – Adjusted Free Cash Flow - Q1
Appendix – Adjusted Free Cash Flow and Free Cash Flow Adjusted for Changes in Working Capital - Q1 Three Months Ended (in thousands) June 30, 2026 June 30, 2025 June 30, 2024 Net cash used in operating activities $ (359,708) $ (495,287) $ (252,176) Capital expenditures (4,186) (4,279) (5,097) Collec
Slide 19: Appendix – Adjusted Free Cash Flow - LTM Q1
Appendix – Adjusted Free Cash Flow and Free Cash Flow Adjusted for Changes in Working Capital - LTM Q1 Last Twelve Months (3) (in thousands) June 30, 2026 June 30, 2025 June 30, 2024 Net cash used in operating activities $ (72,872) $ (256,497) $ (181,472) Capital expenditures (21,958) (22,210) (22,4
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