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Pyxus International Inc (NYSE:PYX) reported a Q4 loss of $1.1 per share, versus a year-ago loss of $0.5 per share. Its sales slipped to $591.241 million from $643.851 million.
Pyxus, based in Morrisville, North Carolina, released the results Friday.
Full-service volumes increased 4.3% to 131.9 million kilos in fiscal 2019 despite the impact of Hurricane Florence and foreign tariffs on U.S. tobacco.
Gross profit as a percent of sales increased from 11.6% for the three months ended March 31, 2018 to 14.5% for the three months ended March 31, 2019.
SG&A increased $8.1 million or 17.6% from $46.0 million for the three months ended March 31, 2018 to $54.1 million for the three months ended March 31, 2019.
The company also says continued execution on its "One Tomorrow" transformation strategy, including significant progress on the expedited buildout by its Canadian cannabis subsidiaries and the opening of
Criticality's industrial hemp extraction and purification facility.
CEO Pieter Sikkel said, "Over the past fiscal year, we have accomplished real change at Pyxus International.
"From investing in differentiated capabilities across our entire portfolio to ensure we are uniquely positioned to capitalize on growth opportunities to propelling our leaf business forward through cultural and operational changes, we are committed to creating value through innovation for our customers, our partners and our shareholders."
Pyxus shares faltered 83 cents, or 4.7%, to $16.78
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