Pitney Bowes Stock Price, News & Analysis

Pitney Bowes (NYSE:PBI) has announced the expansion of its Designed Delivery service into the Canadian market, aiding local retailers in reaching both Canadian and US consumers. This service leverages the company's established US delivery network and deep Canadian carrier partnerships.

The offering includes optimized delivery speed, a diversified last mile network, and customizable tracking solutions at no extra cost. The service aims to enhance the order experience for Canadian brands, with substantial interest reported from major shippers.

Pitney Bowes (NYSE: PBI) announced that Christopher Johnson, Senior VP and President of Financial Services, has been recognized in Savoy Magazine’s 2022 Most Influential Black Executives in Corporate America list. Johnson oversees the company's strategy, growth, and operations in financial services. This prestigious listing was derived from over 500 candidates, highlighting his achievements and community contributions. Marc B. Lautenbach, President and CEO, commended Johnson's leadership and integrity, emphasizing the company’s appreciation for his role in driving business success.

Pitney Bowes (NYSE: PBI), a global shipping and mailing company, announced it has obtained FedRAMP authorization for its SendPro 360 platform, enhancing data security for federal clients. This authorization validates the company's commitment to providing secure cloud services and follows a rigorous two-and-a-half year evaluation process. The platform offers federal clients secure access to advanced mailing technologies and analytics. With this achievement, Pitney Bowes joins the ranks of other authorized companies like IBM and Google, illustrating its dedication to innovation and robust security.

American Eagle Outfitters (NYSE: AEO) announced a new partnership with Pitney Bowes (NYSE: PBI) through its subsidiary Quiet Platforms. This collaboration enhances logistics capabilities, providing faster delivery services to optimize supply chains. Brent Beabout, President of Quiet Platforms, emphasized the efficiency gains for retailers, while Pitney Bowes aims to innovate supply chain solutions. Quiet Platforms, formed from AEO's acquisitions, aims to support small and midsized retailers with a shared supply chain model that reduces costs and improves sustainability.

Pitney Bowes reported a record US parcel volume increase of 6% in 2021, totaling 21.5 billion parcels. Carrier revenues surged by 16% year-over-year, reaching $188 billion. Notably, UPS held the highest share with 37% of carrier revenue. The report indicates continued growth in parcel volume, projected to hit between 25-40 billion by 2027, with a 5%-10% CAGR from 2022-2027. The resilience of the shipping industry amid pandemic challenges underscores the growing consumer reliance on online shopping.

Pitney Bowes has launched a new Presort Services Mega Center in Las Vegas, Nevada, spanning 175,000 square feet, making it their largest facility to date for processing mail. This center will handle First-Class™ Letters, Marketing Mail®, and Bound Printed Matter all in one location, enhancing operational efficiencies. It aims to serve mail volumes from surrounding states, employing over 200 full-time workers. In 2021, Pitney Bowes processed more than 17 billion pieces of mail and parcels, showcasing its position as the largest workshare partner of the USPS®.

Pitney Bowes (NYSE:PBI) has declared a quarterly cash dividend of $0.05 per share, scheduled for payment on June 8, 2022. This dividend will benefit stockholders recorded as of May 23, 2022. As a global shipping and mailing company, Pitney Bowes serves a vast clientele, including over 90% of the Fortune 500, providing technology, logistics, and financial services. This move signals the company's commitment to returning value to its shareholders amidst its operational activities.

Pitney Bowes (PBI) reported Q1 2022 revenue of $927 million, a 1% increase year-over-year. GAAP EPS was $0.12, while adjusted EPS rose to $0.08 from $0.07 in Q1 2021. Global Ecommerce saw margin expansion, marking its highest quarterly gross margin. Presort Services revenue grew 12%, driven by improved net revenue per piece, though SendTech experienced a 3% decline. The company reduced debt by $99 million and anticipates low-to-mid single-digit revenue growth for the year, with cash flow levels similar to 2021.