Pitney Bowes (PBI) Tops Q2 Earnings and Revenue Estimates

Company Performance - Pitney Bowes reported quarterly earnings of $0.03 per share, exceeding the Zacks Consensus Estimate of a loss of $0.06 per share, and compared to a loss of $0.02 per share a year ago, indicating a 150% earnings surprise [1] - The company achieved revenues of $793.17 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.79%, and up from $776.48 million in the same quarter last year [1] - Over the last four quarters, Pitney Bowes has consistently surpassed consensus EPS and revenue estimates [1] Stock Performance - Since the beginning of the year, Pitney Bowes shares have increased by approximately 28.4%, significantly outperforming the S&P 500's gain of 9% [2] - The current consensus EPS estimate for the upcoming quarter is $0.02 on revenues of $787.27 million, and for the current fiscal year, it is $0.08 on revenues of $3.27 billion [4] Industry Outlook - The Office Automation and Equipment industry, to which Pitney Bowes belongs, is currently ranked in the top 27% of over 250 Zacks industries, indicating a favorable outlook [5] - Empirical research suggests that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than a factor of 2 to 1 [5]