Pitney Bowes Stock Price, News & Analysis

Pitney Bowes (NYSE: PBI) has released its 2022 Parcel Shipping Index, showing a 2% decline in parcel volumes to 21.2 billion, although this figure surpassed pre-pandemic forecasts. Carrier revenues reached a record $198 billion, a 6.5% increase from $186 billion in 2021. Predictions indicate a 5% CAGR for parcel volume through 2028. Daily shipments averaged 58 million parcels, while per capita volume slightly decreased from 65 to 64. Notably, revenues from smaller carriers grew by 29%.

Pitney Bowes (NYSE:PBI) has issued a letter urging shareholders to vote for its Board nominees, including Hestia Capital nominee Katie May, ahead of the Annual Meeting on May 9, 2023. The letter criticizes Hestia's attempts to take control of the Board, stating they lack a coherent strategy and any proposed CEO candidate. The company claims its ten-year transformation has strengthened its business portfolio and is nearing profitable growth, despite facing challenges in a declining market. Pitney Bowes emphasizes strong corporate governance and board diversity, asserting that electing Hestia's slate could destabilize the Company.

Pitney Bowes (NYSE: PBI) has announced its participation in the Sidoti Virtual Conference on March 22-23, 2023. Key executives, including Ned Zachar and Alex Brown, will engage with investors through presentations and one-on-one meetings. The group presentation is set for March 23 at 1:45 pm, with a webcast available on the company's investor relations page. Pitney Bowes provides technology, logistics, and financial services to a vast clientele, including over 90% of the Fortune 500, thereby simplifying mailing and shipping operations.

Pitney Bowes Inc. (NYSE: PBI) has released its 2022 Order Experience Index, detailing the evolving consumer expectations in ecommerce from checkout to returns.

Key findings include that 62% of consumers prioritize accurate delivery dates over fast shipping, while convenience is the primary reason for online shopping. Retailers also face challenges with sustainability and return cost management. Notably, returns account for an average of 21% of order value, prompting many to seek solutions to reduce transportation and processing expenses.

Hestia Capital Management has filed a definitive proxy statement with the U.S. Securities and Exchange Commission regarding Pitney Bowes' upcoming Annual Meeting of Stockholders on May 9, 2023. As the third-largest shareholder with an 8.4% stake, Hestia aims to influence boardroom changes. They have also sent a letter to stockholders, available for download. Investors can learn how to vote for Hestia’s five director candidates via the WHITE proxy card by visiting TransformPitneyBowes.com, which includes additional details about the campaign.

Pitney Bowes (NYSE:PBI) announced the filing of its definitive proxy statement and GOLD proxy card for the 2023 Annual Meeting of Shareholders, scheduled for May 9, 2023. The Board urges all shareholders to vote to counter an activist hedge fund, Hestia Capital, which seeks to gain control of the Board and remove the CEO. The letter emphasizes the Company’s transformation from decline to growth, highlighting a revenue CAGR improvement from -8.6% to 4.9% over a decade and significant debt reduction of $1.7 billion. Shareholders can find more details on voting at www.VoteforPitneyBowes.com.

Pitney Bowes (NYSE: PBI), a leading global shipping and mailing company, will participate in the 2023 J.P. Morgan Global High Yield & Leveraged Finance Conference on March 6, 2023, in Miami Beach, Florida. The event will feature a presentation by key executives including Ana Chadwick, CFO, and others at 8:30 a.m. ET. Investors can access the presentation on the company's investor relations website, although it will not be available via webcast. Pitney Bowes serves over 90% of the Fortune 500, providing technology, logistics, and financial services to a diverse range of clients worldwide.

Pitney Bowes (NYSE:PBI) has announced key changes to its Board of Directors ahead of the 2023 Annual Meeting. Darrell Thomas and Steve Brill have been appointed as independent directors, while directors Michael I. Roth, S. Douglas Hutcheson, and David L. Shedlarz will not seek re-election. Robert M. Dutkowsky has been elected as the new Non-Executive Chairman. The company emphasizes its commitment to enhancing stockholder value through these changes. Pitney Bowes has notably reduced debt by $1.7 billion over nine years and returned $1.5 billion to stockholders in dividends and repurchases, all while investing $2.6 billion in its operations.