Financial Performance - Total revenue for Q4 2023 was $872 million, a decline of 4% year-over-year. EBITDA improved by $15 million to $103 million, while EBIT increased by $14 million to $63 million. Adjusted EPS was $0.07 compared to $0.06 in the prior year [13][14][27] - GAAP EPS reported a loss of $1.27, which included a non-cash goodwill impairment charge of $1.24 related to the global Ecommerce segment [13] Business Segment Performance - **SendTech**: Revenue was $327 million, down 5% year-over-year, but EBIT grew by 7% to $113 million. Shipping-related revenues declined 7%, now comprising 13% of total revenue. SaaS subscription revenue from shipping products grew 42% [14][15][18] - **Presort**: Revenue grew 3% to $163 million, with EBIT up 17% to $34 million, driven by higher revenue per piece and operational excellence [21][22] - **Global Ecommerce**: Revenue was $381 million, down 7% year-over-year. Domestic parcel volumes grew 13% to 61 million parcels, but overall profitability needs improvement [23][24] Market Data - Domestic parcel volumes increased by 13% in Q4, reflecting strong performance despite a challenging market. However, revenue per piece declined by 6% due to pricing pressures and client mix [24][25] Company Strategy and Development Direction - The company is focused on streamlining operations, reducing costs, and enhancing accountability across business units. A significant shift in resources towards shipping capabilities is planned, with digital shipping solutions moved to SendTech [8][10][11] - The company aims for disciplined capital allocation and strengthening its balance sheet while continuing to execute on cost reduction initiatives [11][26] Management Commentary on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the importance of operational discipline and targeted shipping growth paths. They acknowledged the challenges faced in 2023 and the transformation expected in 2024 [11][28] - The company anticipates revenue growth to range from flat to low single-digit decline in 2024, with EBIT margins expected to remain relatively flat [27] Other Important Information - The company announced changes to its Board of Directors, welcoming new members with significant experience in corporate governance and capital allocation [29][30] - The restructuring program is on track to deliver annual run rate savings of $75 million to $85 million by the end of 2024 [26] Q&A Session Summary Question: Insight into Global Ecommerce business - Management emphasized the need for continued cost management and driving volumes into the network, with a focus on margin improvement [31][32] Question: Free cash flow expectations for 2024 - Free cash flow is expected to be somewhat north of the previous year's figures [34][35] Question: Impact of higher variable compensation and wage inflation - Variable compensation and wage inflation are anticipated to consume a significant portion of the savings from restructuring efforts [41][42] Question: Update on CEO search process - The Board is actively engaged in a search for a new CEO, with a timeline of four to six months for the process [48] Question: CapEx allocation and payback periods - Overall CapEx is expected to remain steady, with a focus on quicker paybacks for investments [83][84]

Pitney Bowes Fourth Quarter 2023 Earnings Forward Looking Statements This document contains “forward-looking statements” about the Company’s expected or potential future business and financial performance. Forward-looking statements include, but are not limited to, statements about future revenue and earnings guidance and future events or conditions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially fr ...

Financial Data and Key Metrics Changes - Total revenue for Q3 2023 was $784 million, a decline of 1% year-over-year [12] - Adjusted EBITDA grew by $6 million year-over-year to $84 million [12] - Adjusted EBIT increased by $5 million to $43 million, but higher interest expenses resulted in adjusted EPS of 0 [12] Business Segment Data and Key Metrics Changes - **SendTech**: Reported revenues of $318 million, down 3% year-over-year, but EBIT margin expanded by 200 basis points due to improved productivity [13][15] - **Presort**: Generated revenue of $152 million, up 5% from the prior year, with adjusted segment EBIT increasing by 42% to $29 million [16][17] - **Global E-commerce (GEC)**: Revenues were $313 million, down 1% year-over-year, with adjusted EBIT loss of $42 million compared to a loss of $35 million last year [18] Market Data and Key Metrics Changes - Domestic parcel processed 51 million packages, representing a growth of 38% year-over-year, translating to 29% revenue growth [19] - Cross-border revenue declined by $57 million, impacting overall GEC performance [18] Company Strategy and Development Direction - The company is focused on cost reduction and restructuring, with an increased target for annualized expense savings from $75 million to approximately $115 million [10][21] - The SendTech and Presort segments are seen as cornerstones for sustained value, while GEC is being re-evaluated to reduce losses [9][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the unsustainable losses in GEC and is taking short-term actions to improve profitability [26] - The company expects full-year revenue to decline between 3% and 4% on a comparable basis, with adjusted EBIT margins remaining flat [22] Other Important Information - The company has made significant progress in restructuring, with $17 million in charges recorded during the quarter [21] - The capital structure remains a priority, with a focus on reinvesting in the business and selective acquisitions [63] Q&A Session Summary Question: What changes are anticipated in the e-commerce business to achieve profitability? - Management recognizes the unsustainable losses and is exploring short-term improvements while restructuring operations [26][27] Question: What is the outlook for pricing in the industry during the holiday season? - There is significant pricing pressure due to market overcapacity, but management is cautiously optimistic about leveraging pricing strategies [30][31] Question: Are there further automation opportunities in Presort? - Continuous productivity improvements are expected as the team focuses on optimizing transportation and automation [34] Question: What are the sources of the additional $40 million in restructuring savings? - Savings will come from cost of goods sold and overhead reductions, with a focus on simplifying operations [38][39] Question: Is there a plan for drastic actions regarding GEC? - Management believes in the value of the domestic parcel side of GEC and is focused on improving profitability rather than drastic measures [50][51] Question: How is the company preparing for the holiday season regarding labor? - The company has improved its ability to flex labor in response to volume changes, ensuring better preparedness for peak season [53][55] Question: What is the focus for capital structure moving forward? - The priority is on reinvesting in the business, with considerations for acquisitions and market repurchases [63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 1-03579 PITNEY BOWES INC. (Exact name of registrant as specified in its charter) State of incorporation: ...

Pitney Bowes Inc. (NYSE:PBI) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET Company Participants Alex Brown - Senior Manager, IR Marc Lautenbach - President and CEO Ana Maria Chadwick - EVP and CFO Conference Call Participants Anthony Lebiedzinksi - Sidoti and Company Kartik Mehta - Northcoast Research Matt Swope - Baird Peter Sakon - CreditSights Operator Good morning and welcome to the Pitney Bowes Second Quarter 2023 Earnings Conference Call. Your lines have been placed in a listen-only mode ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 1-03579 PITNEY BOWES INC. (Exact name of registrant as specified in its charter) State of incorporation: Dela ...

Pitney Bowes Inc. (NYSE:PBI) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Ned Zachar - Vice President, Investor Relations Marc Lautenbach - President and Chief Executive Officer Ana Maria Chadwick - Executive Vice President and Chief Financial Officer Conference Call Participants Matt Swope - Baird Ananda Baruah - Loop Capital Kartik Mehta - Northcoast Research Operator Good morning and welcome to the Pitney Bowes’ First Quarter 2023 Earnings Conference Call. [Operator Instru ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 1-03579 PITNEY BOWES INC. (Exact name of registrant as specified in its charter) State of incorporation: Del ...

Revenue Performance - Total revenue for 2022 decreased by 4% to $3,538,042, compared to $3,673,561 in 2021, with a constant currency change of 3%[79] - Global Ecommerce revenue declined by 7% to $1,576,348, primarily due to lower volumes in cross-border services and digital delivery services[81] - Total revenue for 2022 was $1.36 billion, a decrease of 3% compared to $1.40 billion in 2021[95] Segment Performance - Segment EBIT for 2022 decreased by 7% to $383,031 compared to $410,463 in 2021, with Global Ecommerce EBIT decreasing by 2%[82] - Presort Services revenue increased by 5% to $602,016, driven by pricing actions and processing of First Class Mail[90] - SendTech Solutions segment EBIT decreased by 7% to $400,909, impacted by lower revenues and higher operating expenses[93] Future Outlook - The company expects consolidated revenue growth in 2023 to be flat to a mid-single digit increase, with EBIT growth anticipated to outpace revenue growth[84] - Domestic Parcel services within Global Ecommerce are expected to see growth, while cross-border operations may continue to face challenges due to a strong U.S. dollar[84] Profitability and Expenses - The company plans to improve profitability in Presort Services through increased automation and facilities consolidation[84] - Higher interest expense for 2023 is anticipated to be about $30 million due to recent interest rate increases[84] - SG&A expenses decreased by 2% to $906 million, primarily due to lower employee-related expenses[97] Cash Flow and Capital Expenditures - Cash flow from operating activities declined by $126 million to $175.98 million in 2022, primarily due to increased trade and finance receivables[107] - Capital expenditures totaled $125 million in 2022, down from $184 million in 2021, reflecting continued investment in facilities and technology[117] Debt and Financial Position - The company reduced its debt by $124 million during 2022, with outstanding debt at $2.2 billion as of December 31, 2022[110] - Future cash requirements total $2.96 billion, with significant payments due in 2023 and 2024[112] - As of December 31, 2022, the company has authorization to repurchase up to $3 million of its common stock[119] Credit Risk and Allowance - The company is exposed to credit risk on accounts receivable and finance receivable balances[145] - The credit risk is mitigated by a large, diverse client base across various geographic regions and industrial sectors[145] - Provisions for potential credit losses are maintained based on historical experience and current economic conditions[145] Tax and Dividend - The effective tax rate for 2022 included a tax benefit of $5 million related to the sale of Borderfree[103] - The company expects to continue paying a quarterly dividend of $0.05 per share, estimating total dividend payments of approximately $35 million in 2023[118]

Pitney Bowes Fourth Quarter 2022 Earnings January 31, 2023 Forward Looking Statements This document contains "forward-looking statements" about the Company's expected or potential future business and financial performance. Forward-looking statements include, but are not limited to, statements about future revenue and earnings guidance and future events or conditions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to dif ...