Pitney Bowes Stock Price, News & Analysis

Pitney Bowes Inc. (NYSE: PBI) has announced its acquisition of CrescoData, a Platform-as-a-Service (PaaS) provider, to strengthen its offerings in the ecommerce sector. While financial terms were not disclosed, CrescoData's advanced technology enhances Pitney Bowes' shipping portfolio, especially for mid-high volume ecommerce clients. The integration aims to accelerate Pitney Bowes' go-to-market strategy in the Retail and Pharmacy verticals, capitalizing on predicted shipping volume growth of doubling over the next five years.

Kyndryl (NYSE: KD) has been selected by Pitney Bowes (NYSE: PBI) for a significant technology transformation to enhance its global operations. This partnership aims to implement an agile IT infrastructure leveraging hybrid cloud investments, with Kyndryl managing core systems including servers and storage. Pitney Bowes, serving over 90% of the Fortune 500, utilizes Kyndryl's expertise in AI and advanced analytics to improve its e-commerce and logistics services. The collaboration underscores Kyndryl's commitment to delivering innovative solutions across more than 60 countries.

Pitney Bowes (NYSE: PBI) reported its third quarter 2021 financial results, revealing revenues of $875 million, a 2% decrease from the prior year, but an 11% increase compared to Q3 2019. GAAP EPS settled at $0.05, with adjusted EPS at $0.08. Key highlights include a 9% revenue growth in Presort Services and a 100 basis points improvement in Global Ecommerce gross margin. Despite challenges in domestic parcel volumes, management remains optimistic about maintaining positive EBITDA for Global Ecommerce by year-end.

Pitney Bowes (NYSE:PBI) is enhancing its capabilities to meet the growing demand for ecommerce during the peak holiday season. This includes hiring thousands of seasonal warehouse associates and drivers, expanding its ecommerce hubs in Boston, Columbus, Seattle, and Dallas, and investing in automation technologies like AmbiSort AI-powered robotics. The company aims to provide improved tracking, visibility, and delivery projections while increasing wages by $3 to $5 for seasonal workers. In 2020, its Global Ecommerce business generated $1.6 billion in revenue.

Pitney Bowes (NYSE: PBI) announced a 5.9% general rate increase (GRI) for its ecommerce services, effective January 2, 2022. This increase applies to standard delivery, returns, and cross-border delivery services, emphasizing the company's commitment to clear pricing without hidden fees. The early announcement aims to help clients plan their logistics spending. Despite rising costs, Pitney Bowes has maintained competitive pricing and continues to enhance its global logistics capabilities through investments in technology and infrastructure.

Pitney Bowes (NYSE: PBI) has launched its ParcelPoint™ Smart Lockers in Canada, expanding its innovative locker solutions in response to a growing parcel market. The Pitney Bowes Shipping Index revealed a 29% increase in Canada's parcel revenue, totaling $11.5 billion in 2020. The new lockers aim to enhance safety and convenience for organizations during office reopenings. With features like remote management and detailed analytics, these lockers cater to various organizational needs while addressing increasing demand for secure delivery methods.

Pitney Bowes (NYSE:PBI) has been honored with the 2021 Climate Leadership Award for Excellence in Greenhouse Gas Management, recognizing its commitment to reducing environmental impact for the second consecutive year. The company achieved nearly 13% reduction in global emissions from 2015 to 2020, surpassing its 8% goal. Key initiatives include using fuel-efficient vehicles, reducing electricity consumption by 35 million kilowatt hours, and promoting recycling. Pitney Bowes aims for carbon neutrality by 2040, enhancing operational efficiency and utilizing green technologies.