Pyxus Q3 revenue up 13% to $428.9M; exits cannabis ops; new $100M ABL

PYXUS INTERNATIONAL, INC.

2022-Q3 EPS reported -$2.05 revenue$1,156,433,000

Sales $428.9M (+13.0% YoY); gross profit $65.2M (+4.3%); SG&A down 25.5% to $34.2M.
Cash $146.1M, up $22.9M; $15.4M prepayment on Delayed Draw Term Loan in Dec 2021.
Completed sale of FIGR Norfolk assets in Jan 2022, exiting cash-flow-negative cannabinoid ops.
New $100M ABL credit facility with PNC Bank replaces $75M facility; lower rate, extended maturity.
FY2022 guidance: revenue $1.55B-$1.7B; adjusted EBITDA $125M-$145M; expects COVID shipping delays.

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