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Pitney Bowes Inc. - $PBI STOCK NEWS

Welcome to our dedicated page for Pitney Bowes news (Ticker: $PBI), a resource for investors and traders seeking the latest updates and insights on Pitney Bowes stock.

Pitney Bowes Inc. (NYSE: PBI) is a renowned global technology company established in 1920, dedicated to offering innovative products and solutions that help clients navigate the complexities of commerce. With a focus on customer information management, location intelligence, customer engagement, shipping and mailing, and global e-commerce, Pitney Bowes serves more than 1.5 million clients worldwide, including 90% of the Fortune 500, over 200 retailers, and numerous small businesses.

Pitney Bowes operates through three main business segments: Global E-commerce, Presort Services, and SendTech Solutions, with the majority of its revenue generated in the United States. The company's extensive portfolio includes domestic delivery, return and fulfillment services, cross-border shipping solutions, presorting services, and digital mailing and shipping technologies.

Driving their relentless pursuit of innovation are Pitney Bowes' 15,000+ dedicated employees. The company's commitment to technological advancement is evident in its 2,300 active patents, ensuring precise and accurate solutions for their clients. Recent partnerships, such as the one with ReverseLogix, enhance their service offerings, providing substantial savings and increased efficiency in return shipments.

In terms of financial health and corporate responsibility, Pitney Bowes continues to progress, leveraging its longstanding expertise and modern capabilities to meet the evolving needs of its diverse clientele. For the latest updates, corporate announcements, and financial results, visit their newsroom.

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Pitney Bowes (NYSE: PBI) announced the opening of a new 45,000 square foot Presort Services operating center in Maryland Heights, MO, serving the St. Louis market.

The center processed nearly 100,000 pieces of mail on its first day and now handles up to 1.2 million pieces daily. Equipped with advanced sorters, conveyors, and nine loading docks, it supports various mail types, including First Class Letters and Marketing Mail.

Debbie Pfeiffer, EVP and President of Pitney Bowes Presort Services, highlighted the facility's role in enhancing efficiency and service.

The center joins Pitney Bowes' national Mail Exchange Network, with an open house planned for early fall.

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Pitney Bowes (NYSE: PBI), a global shipping and mailing company, will host an investor conference call at 8:00 AM ET on Wednesday, May 29. The call will introduce the newly appointed interim CEO, Lance Rosenzweig, and discuss the company's recent strategic initiatives. Participants can register for the call via a provided link, and a replay will be available on the Pitney Bowes Investor Relations website for those unable to attend live.

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Pitney Bowes announced the appointment of Lance Rosenzweig as interim CEO, replacing Jason Dies. The company aims to achieve $60M-$100M in annual cost savings and improve cash and balance sheet management to expedite debt paydown.

The Board established a Value Enhancement Committee to oversee strategic reviews, particularly of the Global Ecommerce (GEC) segment, and retained two consulting firms for support.

Rosenzweig, with extensive leadership experience, will help drive efficiency and shareholder value. The company plans a new CEO search and announced an investor call for May 29 to discuss these initiatives.

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Pitney Bowes Inc. (NYSE:PBI) declared a quarterly cash dividend of $0.05 per share on its common stock. The dividend payment is scheduled for June 7, 2024, to stockholders of record on May 23, 2024.

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Pitney Bowes (NYSE: PBI) announced its financial results for the first quarter of 2024, with net income improving by $5 million compared to the prior year. Adjusted EBIT grew by over $23 million while operating expenses declined by 8%. Revenue remained flat at $831 million. Cost reduction actions from the 2023 restructuring plan generated significant benefits, with expected savings exceeding $75 to $85 million. SendTech Solutions saw a 6% increase in adjusted segment EBIT, while Presort Services achieved a 7% revenue growth and a 39% increase in adjusted segment EBITDA. Global Ecommerce experienced a 2% revenue decline due to changes in cross-border revenue, but domestic parcel volumes grew by 20%. The company is maintaining guidance for 2024, expecting revenue growth to range from flat to a low-single digit decline.

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Lakeview Investment Group & Trading Company is urging Pitney Bowes to expedite the sale of their GEC unit to reduce leverage, achieve a higher EV / EBITDA multiple, and nearly double their share price. They emphasize the need for permanent leadership due to turnover in top positions.

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Pitney Bowes has been named to Forbes' Best Employers for Diversity 2024 list for the sixth year in a row, highlighting the company's commitment to diversity and inclusion. The recognition is based on a survey of over 170,000 U.S.-based employees, with Pitney Bowes standing out for its diverse workforce composition, inclusive leadership team, and strong emphasis on diversity and inclusion initiatives. The company has also been previously recognized for its efforts in promoting gender equality and LGBTQ+ workplace inclusion.
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Pitney Bowes celebrates its 20-year partnership with Reading Is Fundamental by organizing 20 events in 20 cities across the country. The company is actively involved in promoting children's literacy through volunteer activities and distributing literacy kits to children in need. The partnership has been instrumental in providing books and resources to support reading proficiency among elementary students, with a focus on promoting lifelong learning and opportunity.
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Pitney Bowes Inc. released its annual U.S. Parcel Shipping Index, showing a decline in U.S. market parcel revenue for the first time in seven years despite increased parcel volume. Amazon Logistics outperformed UPS and FedEx with a 15.7% volume growth, while USPS remained the market leader. The carrier landscape is shifting towards smaller competitors, with a focus on cost-effective shipping services. Pitney Bowes forecasts U.S. parcel volume to reach between 23 billion and 35 billion by 2029.
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Pitney Bowes (PBI) has been recognized as one of America's Most Innovative Companies in 2024 by Fortune and Statista Inc. The company's commitment to innovation, spanning over a century, is highlighted through its innovative solutions, services, and internal culture. Pitney Bowes focuses on creating value for clients, improving efficiency, and enhancing business results through technology, process, and business model innovation.
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FAQ

What does Pitney Bowes Inc. do?

Pitney Bowes Inc. offers innovative products and solutions in customer information management, location intelligence, customer engagement, shipping and mailing, and global e-commerce.

What are the main business segments of Pitney Bowes?

Pitney Bowes operates through three main segments: Global E-commerce, Presort Services, and SendTech Solutions.

Who are the clients of Pitney Bowes?

Pitney Bowes serves over 1.5 million clients, including 90% of the Fortune 500, more than 200 retailers, and many small businesses.

Where does Pitney Bowes generate most of its revenue?

The majority of Pitney Bowes' revenue is generated from operations in the United States.

What recent partnership has Pitney Bowes entered into?

Pitney Bowes has partnered with ReverseLogix to enhance their return management services, providing cost savings and greater efficiency for customers.

How many employees does Pitney Bowes have?

Pitney Bowes employs over 15,000 people globally.

How many patents does Pitney Bowes hold?

Pitney Bowes holds over 2,300 active patents.

When was Pitney Bowes founded?

Pitney Bowes was founded in 1920.

What recent achievements has Pitney Bowes announced?

Pitney Bowes recently announced a partnership with ReverseLogix to offer enhanced return management capabilities, leading to cost savings and improved efficiency for customers.

Where can I find the latest news about Pitney Bowes?

For the latest updates, corporate announcements, and financial results, visit Pitney Bowes' newsroom at www.pitneybowes.com/us/newsroom.

Pitney Bowes Inc.

NYSE:PBI

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PBI Stock Data

831.77M
155.76M
4.19%
67.25%
6.43%
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