Pyxus International Inc (NYSE:PYX) Q3 2019 Earnings Conference Call Transcript

Feb 11, 2019 • 05:30 pm ET


Pyxus International Inc (NYSE:PYX) Q3 2019 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to today's Pyxus International Fiscal year 2019 Third Quarter Results. At this time, all participants are in a listen-only mode. (Operator Instructions). As a reminder, this call is being recorded.

I would now like to introduce your host for today's conference call, Joel Thomas, Chief Financial Officer. Mr. Thomas, you may begin your conference.

Joel L. Thomas

Thank you, Stephanie. With me this evening is Pieter Sikkel; our President, Chief Executive Officer and Chairman of the Board of Directors; and Michael Shannon, Vice President and Treasurer. Before we begin discussing our financial results, I would like to cover a few points.

You may hear statements during the course of this call that express a belief, expectation, or intention, as well as those that are not historical fact. These statements are forward-looking and involve a number of risks and uncertainties that may cause actual events and results to differ materially from these forward-looking statements. These risks and uncertainties are referenced in the Safe Harbor statement included in our press ,release and are described in more detail along with other risks and uncertainties in our filings with the SEC, including our most recent Form 10-K. We do not undertake to update any forward-looking statements made on this conference call to reflect any change in Management's expectations or any change in assumptions or circumstances on which these statements are based.

Included in our call today may be discussion of non-GAAP financial measurements, including earnings before interest, taxes, depreciation and amortization commonly referred to as EBITDA and adjusted EBITDA, that are not measures of results of operations under generally accepted accounting principles in the United States and should not be considered as an alternative to US GAAP measurements. A table including a reconciliation of and other disclosures regarding these non-GAAP financial measures is included with our earnings release issued today, which is available on our website at

Any replay, rebroadcast, transcript or other reproduction of this conference call, other than the replay as provided by Pyxus International has not been authorized and is strictly prohibited. Investors should be aware that any unauthorized reproduction of this conference call may not be an accurate reflection of its contents.

Now, I'll hand the call over to Peter Sikkel.

Pieter Sikkel

Good evening, everyone, and thank you for joining us. Almost one year ago today we revealed our One Tomorrow transformation plan and our renewed focus on innovating for the future, while honoring our strong heritage. Since that time we have reshaped our brand, enhanced the leaf business and broadened our exposure to adjacent categories poised for tremendous growth. We've made significant strides in the buildup and development of our legal Canadian cannabis, industrial hemp and the e-liquid lines and we are continuing to invest the time and resources necessary to position them for growth in the coming years.

We believe the investments we're making now will further accelerate the growth rate across our higher margin categories and ultimately provide long-term benefits for our customers, our