Pyxus International Posts Quarterly Net Loss Of $16.5M

Tobacco and cannabis company Pyxus International, Inc. (NYSE: PYX), reported a net second-quarter loss of $16.5 million Thursday, down from a net loss of $54.63 million in the same period last year. The lower net loss is mostly thanks to a $32.1-million decrease in income tax cost and a 3.2% increase in gross margin, Pyxus said in a press release. “[The] focus on improving performance across all of our businesses during the first half of fiscal year 2020 provided a platform on which we intend to build,” Pieter Sikkel, the company’s chairman, president and CEO, said in a statement.