Pyxus Intl Inc New

Please stand by, your conference is about to begin. Hello and welcome to our first quarter fiscal 2027 earnings conference call. Today's call is being recorded. After our prepared remarks, we'll open the call for questions. I'd now like to turn the call over to Tomas Grigera, VP Corporate Treasurer.

Tomas Grigera Thank you, operator. Joining me today are Peter Sikkel, our President and CEO, and Dustin Styons, our CFO. 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 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 those forward-looking statements. These risks and uncertainties are described in detail along with other risks and uncertainties in our filings with the SEC, including our most recent 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 which these statements are based. Included in our call today may be discussion of non-GAAP financial measures, including earnings before interest, taxes, depreciation, and amortization commonly referred to as EBITDA and adjusted EBITDA, free cash flow adjusted for changes in working capital and adjusted free cash flow metrics, which 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 U.S. GAAP measurements. Reconciliations of and other disclosures regarding these non-GAAP financial measures are included in the appendix accompanying this presentation, which is available on our website at www.PIXIS.com. Any replay, rebroadcast, transcript, or other reproduction of this conference call other than the replay as provided by PIXIS 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 Pieter.

Thank you, Tomas, and good morning, everyone. We delivered a strong start to fiscal year 2027, executing a disciplined purchasing approach in an abundant market, protecting margin performance, generating cash, and continuing to improve our balance sheet and credit metrics. Our first quarter results were consistent with expectations and support our full-year outlook. Market conditions are developing largely as anticipated with ample supply, steady customer demand, and a consistent quarterly shipping cadence compared to last year. As we indicated on our last call, this supply-demand dynamic was likely to drive lower crop prices in key sourcing markets, which positions us to purchase higher quality tobacco at a lower price. That adjustment in market pricing is now becoming evident. resulting in more selective, slower, and lower cost purchasing through the first quarter, largely in South America and Africa. Regardless of market dynamics, we align our crop purchases with demand, leveraging our strong visibility into customer requirements while maintaining disciplined working capital deployment. We are pleased with our first quarter performance, which was in line with our expectations with the first quarter typically representing the lowest sales period of the year. Margin per kilo remains strong, underscoring the effectiveness of our commercial model as we procure tobacco in a lower price, sufficient supply environment. We continue to expect shipment volumes to strengthen over the balance of the year, and our full year outlook remains unchanged. We remain focused on optimizing the timing and execution of shipments and expect a cadence consistent with last year while recognizing that quarterly variances may occur based on shipment timing, processing schedules, and regional and customer mix. We continue to invest in agricultural innovation that strengthens farmer outcomes and enhances the reliability of our supply chain. In Tanzania, we recently introduced proprietary tobacco seed varieties developed by our global research and development team. These varieties have produced significantly improved yields and crop resilience compared with traditional seeds. This work reflects how targeted investments in research and development and seed production and sales can enhance productivity, support farmer livelihoods, and reinforce the long-term sustainability of our sourcing operations. Together, these capabilities help strengthen customer engagement and farmer retention while supporting long-term margin performance and quality supply alignment. Importantly, we view global solutions as part of the broader strategic shift towards a more value-driven model, not simply a quarterly driver. With that, I'll turn the call over to Dustin to walk through the financial results in more detail. Thank you, Pieter, and good morning, everyone.