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. reports developments in digital shipping solutions, mailing innovation, financial services, and postal processing services. Company updates commonly cover SendTech and Presort activity, SendPro platform capabilities, results releases, guidance, cost management, and capital allocation actions such as share repurchases, debt reduction, and note tender offers.
News also includes security and compliance milestones for cloud-based shipping and mailing tools, including SendPro 360 authorization for U.S. defense use, as well as leadership changes tied to The Pitney Bowes Bank, SendTech, Presort, and corporate finance.
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 person value="APIN:1282594369"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.
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Pitney Bowes (NYSE:PBI) has announced a quarterly cash dividend of $0.05 per share, payable on March 14, 2023. Stockholders on record as of February 17, 2023 will receive this dividend, reinforcing Pitney Bowes' commitment to returning value to its shareholders.
This announcement showcases the company's ongoing financial strategy to reward investors amidst its global operations in shipping, mailing technology, logistics, and financial services.
Select Star, a data discovery and governance platform, announced it has closed a $15 million Series A funding round led by Lightspeed Venture Partners, with participation from Bowery Capital, Sozo Ventures, and Pebblebed. Founded in 2020, Select Star provides a unique solution for multi-cloud data management, helping organizations understand and utilize their data effectively. Since its launch in November 2021, the company has seen accelerated growth, serving clients like Pitney Bowes and Fivetran. The new funding will enhance R&D and business development efforts to expand its customer base.
Pitney Bowes (NYSE: PBI) reported its Q4 and full year 2022 financial results. Revenue for Q4 stood at $909 million, an 8% decline, while full-year revenue was $3.5 billion, down 4%. GAAP EPS for Q4 was $0.04, and $0.21 for the full year, improving from a loss of $0.01 in 2021. The Global Ecommerce segment processed 54 million domestic parcels in Q4, growing 16% year-over-year. SendTech saw a 30% increase in shipping-related revenues. Despite challenges, including a decline in Gross margins and EBIT for Global Ecommerce, the company anticipates flat to mid-single-digit revenue growth for 2023.
Pitney Bowes (NYSE:PBI) has received a notice from Hestia Capital nominating seven director candidates for the upcoming annual meeting. The Board will review these nominations but shareholders are not required to act at this time. Pitney Bowes emphasizes its commitment to constructive dialogue and improving shareholder value, having already offered to appoint two of Hestia’s nominees. The company is focused on executing its strategy for sustainable growth, particularly in its Global Ecommerce segment. Despite challenges, there have been improvements in volumes and service levels.