Pyxus International, Inc. is a global agricultural company primarily focused on purchasing, processing and supplying leaf tobacco and related value‑added products and services (including the SENTRI tracking platform and agronomy and supplier support) to customers worldwide.

# Pyxus International, Inc.

## What the company does
Pyxus is a global agricultural company focused primarily on leaf tobacco processing and related services. The company reports a single operating segment, Leaf; an All Other category is used only for reconciliation and represents less than 1% of consolidated revenues.

## Core business activities

- Leaf tobacco operations
  - Purchases tobacco on five continents and ships globally.
  - Contracts with suppliers, often small farms, to meet customer specifications.
  - Provides advances for inputs (seeds, fertilizers, etc.) under a cost-accumulation model and applies interest where permitted.
  - Advances are settled on delivery of tobacco, through cash payments and reductions of advances.
  - Processes unprocessed tobacco to meet customer requirements for quality, yield, chemistry, moisture, and other specifications.
  - Operates a network of company-owned and third-party processing facilities across multiple countries.

- Value-Added Tobacco Products (VATP)
  - Produces derived products from tobacco processing, including cut rag tobacco (used as filler for nicotine products) and byproducts such as stems, lamina, and scrap for reconstituted or other nicotine product inputs.

- Track and trace platform
  - SENTRI® provides product lifecycle tracking, lot-number visibility, agronomic insights, and sustainability data to customers, supporting transparency and quality control.

- Agronomy and supplier relations
  - Offers on-farm agronomic services to improve crop quality and yield.
  - Manages human rights and labor practices across the supply chain.

## Revenue and customers
- Revenue by geography for the year ended March 31, 2026:
  - Africa: $410.8 million (17.0%)
  - Asia: $755.3 million (31.3%)
  - Europe: $884.6 million (36.7%)
  - Other: $362.3 million (15.0%)
  - Total Leaf revenue: $2,413.0 million (100.0%)

- All Other revenue (non-tobacco agricultural products) was less than 1% of consolidated revenues in 2026, 2025, and 2024.

- Major customers (each accounting for 10%+ of annual revenues in the year ended March 31, 2026):
  - Philip Morris International Inc.
  - China National Tobacco Corporation
  - Japan Tobacco International

The company reports relationships with other customers beyond those listed above.

## People and facilities
- Employees: approximately 3,300 (seasonal employees excluded) as of March 31, 2026; about 83.3% of the workforce is based outside the United States.

- Principal properties (owned or leased as of March 31, 2026):
  - North America: Wilson, NC (Factory/Storage; Owned); Farmville, NC (Storage; Owned)
  - South America: Venancio Aires, Brazil (Factory/Storage; Owned); El Carril, Argentina (Storage; Owned)
  - Europe: Kavadarci, North Macedonia (Factory/Storage; Leased)
  - Middle East / Africa: Aqaba, Jordan (Factory/Storage; Leased); Lilongwe, Malawi (Factory/Storage; Owned); Morogoro, Tanzania (Factory/Storage; Owned); Harare, Zimbabwe (Factory/Storage; Owned)
  - Asia: Ngoro, Indonesia (Factory/Storage; Owned)

- Corporate headquarters: Morrisville, North Carolina (leased)

## Financial snapshot highlights (year ended March 31, 2026)
- Indebtedness: approximately $932.9 million in aggregate principal amount of indebtedness.
- Liquidity: about $747.3 million available for borrowing under short- and long-term facilities (including letters of credit).

Pyxus International, Inc. is a global agricultural company specializing in responsible sourcing and processing of leaf tobacco, with a strong focus on sustainability, traceability, and serving major tobacco manufacturers worldwide.

# Company Summary of Pyxus International, Inc.

## Overview
- **Type:** Global agricultural company
- **Experience:** Over 150 years in delivering value-added products and services
- **Core Business:** Responsible sourcing, independent verification, sustainability, and traceability of products, primarily **leaf tobacco**

## Business Segments
- **Reportable Segment:** Leaf
- **All Other Revenue:** Non-tobacco agricultural products (less than 1% of total revenue)

## Operations & Products
- **Main Focus:** Processing and sale of **leaf tobacco**, including:
  - **Crop types:** Flue-cured, burley, oriental tobacco
  - **Operations globally:** Purchased on five continents, shipped worldwide
  - **Services:** Processing tobacco to meet customer specifications (quality, yield, chemistry, etc.)
  - **Supply Chain Transparency:** Proprietary "SENTRI®" "track and trace" platform tracking lifecycle from farm to customer.
- **Customer Base:** Major tobacco product manufacturers, with significant customers including:
  - Philip Morris International Inc.
  - China National Tobacco Corporation
  - Japan Tobacco International
- **Geographic Customer Distribution (2025):**
  - Africa: 20%
  - Asia: 35%
  - Europe: 30%
  - Others: Remaining regions

## Employees & Market
- **Employees:** Approximately **3,100** (excluding seasonal workers)
- **Shares Outstanding:** **24,607,791** as of May 31, 2025
- **Market Capitalization (as of September 30, 2024):** Approx. **$29.5 million** (based on OTC Pink Marketplace closing price)

## Financial Highlights (Year Ended March 31, 2025)
- **Total Revenue:** $2,481.3 million
- **Net Income:** $15.2 million
- **Gross Profit:** $343.0 million
- **Segment Revenue (Leaf):** $2,335.1 million
- **Kilo Sales:** 383.4 million kilos (up 3.4% from previous year)
- **Average Price/Kilo:** $6.09 (up 18.0%)
- **Assets:** $1.5038 billion
- **Liabilities:** $1.3381 billion

## Key Operations & Facilities
- **Processing Facilities:** Owned or leased in North America, South America, Europe, Africa, and Asia
  - **Locations include:** North Carolina (Wilson, Farmville), Brazil (Venancio Aires, Ararangua), Argentina (El Carril), North Macedonia (Kavadarci), Jordan (Aqaba), Malawi (Lilongwe), Tanzania (Morogoro), Zimbabwe (Harare), Indonesia (Ngoro)
- **Seasonality:** Operations peak during specific harvesting periods depending on geographic region

## Other Business Interests
- **Non-tobacco Agriculture:** Less than 1% of revenue
- **Technologies:** Proprietary "SENTRI®" platform for traceability
- **Regulations:** Subject to tobacco-specific and international regulation, with a focus on sustainable and responsible sourcing

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*Note:* This summary is based solely on the provided document and includes specific figures, operational details, and geographic scope without assumptions or hypothetical projections.

Pyxus International, Inc. is a leading global merchant and processor of leaf tobacco, with over 150 years of industry experience and a strong footprint in diverse markets worldwide.

# Pyxus International, Inc.

## Company profile
- Industry: Agriculture, primarily focused on leaf tobacco  
- Established: Over 150 years of experience

## Business model
- Primary segment: Leaf tobacco  
- Product offerings:
  - Processed leaf tobacco
  - Processing and related services for manufacturers of tobacco products

## Operations
- Geographic reach: Operates globally and sources tobacco from five continents, including areas in Africa, Asia, North America, and South America  
- Purchasing model: Purchases tobacco primarily directly from suppliers and assumes risks related to crop quality and quantity  
- Processing facilities: Maintains processing facilities in multiple countries, including the USA, Brazil, China, and Zimbabwe, positioned with attention to local supply chains and customer proximity

Key operational features:
- Agronomic support: Regular interaction with suppliers and agronomists to improve crop quality and yield  
- Track and trace: Uses the proprietary SENTRI® platform for supply chain transparency  
- Customer base: Sells to major consumer tobacco product manufacturers; a substantial portion of revenue comes from a relatively small number of large clients

## Financial information (as of March 31, 2024)
- Employees: Approximately 3,000 (excluding seasonal workers)  
- Revenue sources:
  - Primarily derived from leaf tobacco operations
  - E-liquids and non-tobacco agriculture products account for less than 1% of consolidated revenues  
- Key customers:
  - Philip Morris International Inc.
  - China National Tobacco Corporation
  - Japan Tobacco International  
- Sales distribution:
  - Approximately 18% in Africa
  - Approximately 36% in Asia
  - Approximately 31% in Europe

## Market and competitive landscape
- Competition: One of only two publicly held global leaf tobacco merchants; competes on price, product specifications, and regulatory compliance  
- Challenges: Facing potential reductions in demand from shifts toward smoke-free products, regulatory pressures, and growing competition from local suppliers

## Seasonal dynamics
- Seasonality: Tobacco purchasing and processing are seasonal, with peak activity varying by region and affecting working capital and inventory levels

## Key metrics
- Global sourcing: Purchases by region include Africa (33%), Asia (19%), and South America (28%)  
- Financial reporting: Revenues combine leaf tobacco operations with ancillary products

## Summary
Pyxus International, Inc. is an established player in the leaf tobacco industry, engaged in procurement, processing, and distribution while operating across multiple continents and managing evolving market and regulatory dynamics.

PYXUS INTERNATIONAL, INC.

10-K / June 4, 2026

10-K / June 10, 2025

10-K / June 6, 2024

10-K / June 4, 2026

Pyxus International, Inc.

What the company does

Core business activities

Revenue and customers

People and facilities

Financial snapshot highlights (year ended March 31, 2026)