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 global leader in commerce solutions, combining decades of mailing expertise with cutting-edge SaaS shipping technologies and financial services. This page serves as the definitive source for official company announcements, strategic updates, and market-moving developments.
Investors and industry professionals will find curated access to earnings reports, technology partnerships, logistics innovations, and leadership updates. Our collection spans operational milestones across both SendTech Solutions and Presort Services segments, providing insights into PBI's evolving role in digital commerce.
Key updates include new product launches in mailing automation, strategic alliances enhancing global shipping networks, and financial performance metrics. Bookmark this page for real-time access to verified information affecting PBI's market position and technological advancements.
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.
Pitney Bowes (NYSE:PBI) has unveiled a new portfolio of ecommerce logistics services aimed at enhancing operations for direct-to-consumer brands and retailers. This offering includes Designed Delivery, Designed Returns, Designed Cross-Border, and Designed Fulfillment, utilizing advanced analytics and machine learning. The new solutions are tailored to meet the evolving needs of ecommerce shippers, improving flexibility and operational efficiency while addressing challenges created by the pandemic-driven surge in online shopping.
Pitney Bowes (NYSE: PBI) has signed a new credit facility for Medgluv, Inc., a healthcare supply company headquartered in Florida. The funding aims to boost working capital and meet the rising demand for PPE and disposable medical gloves, which surged over the past two years.
Medgluv's revenue increased by over 600% from 2019 to 2021, reflecting robust growth during the COVID-19 pandemic. Although shipping and logistics costs have risen, the new facility offers flexible capital that enhances cash flow, crucial for their growth trajectory.
Pitney Bowes (NYSE: PBI) has launched PitneyShip Pro in Canada, marking it as the first SaaS solution powered by the new Shipping 360 platform. This cloud-based service is designed for the modern business landscape, offering enhanced shipping functionality, customizable user experiences, and efficient parcel management. Companies can benefit from greater control over shipping activities, integrating multiple carriers and services seamlessly. With an anticipated growth from 1.6 billion parcels today to 2.5 billion by 2026, PitneyShip Pro addresses the increasing demand for effective shipping solutions.
Pitney Bowes announces the retirement of Johnna Torsone after 32 years, with Andrew Gold appointed as the new Chief Human Resources Officer. Torsone will serve as an advisor during the transition. Torsone’s leadership has propelled HR excellence, earning her accolades in the industry, while Gold has been a key player at the company for 28 years, known for his work on talent management and HR technology.
Pitney Bowes (NYSE:PBI) is set to showcase its advanced ecommerce logistics services at Shoptalk 2022, marking its return to the first in-person retail conference since 2019. The event occurs from March 27-30, 2022, in Las Vegas, Nevada. Notably, ecommerce services have exceeded 50% of the company’s total revenue, generating $1.7 billion in 2021. The company highlights significant growth in its Global Ecommerce revenue, up by 46% from 2019. Attendees can explore new technologies, analytics tools, and expanded logistics capabilities, including the innovative ParcelPoint Smart Lockers.
Pitney Bowes (NYSE: PBI) has announced a partnership with Funding Circle, a leading online small business lending platform, to provide quick access to loans for small business customers. This collaboration aims to empower small businesses by offering term loans with competitive rates through a streamlined online process. The initiative comes as 72% of small business owners express a need for financing this year. This pilot program is designed to enhance the lending experience and will help businesses grow amid a decline in loan approvals from large banks.
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