Pitney Bowes Stock Price, News & Analysis

Pitney Bowes Inc. (NYSE:PBI) announced pricing adjustments for its domestic and cross-border delivery services effective October 3rd. The changes aim to assist clients in anticipating peak shipping costs amid rising transportation, labor, and COVID-19-related expenses. Key actions include volume caps for shipments, additional fees for oversized packages, and a December 12 induction cut-off for Standard Delivery. The company has ceased onboarding new Standard Delivery clients in Q3 to ensure capacity for existing ones, while investing in workforce and technological enhancements for better service.

Pitney Bowes (NYSE:PBI) has announced the redemption of all outstanding 3.875 percent Notes due 2022, effective September 19, 2021. The redemption price will include the principal amount, accrued interest, and any applicable make-whole amount. Following the redemption date, interest will cease to accrue. The Bank of New York Mellon will notify all registered holders of the Notes regarding this redemption.

This move reflects the company's strategy to manage its debts effectively.

Pitney Bowes (NYSE:PBI) has declared a quarterly cash dividend of $0.05 per share, payable on September 8, 2021, to stockholders on record as of August 20, 2021. This dividend emphasizes the company's ongoing commitment to returning value to shareholders. As a global technology firm, Pitney Bowes provides essential ecommerce, shipping, and financial services, serving a diverse clientele, including 90% of the Fortune 500. The company has been innovating for over a century, optimizing transaction accuracy and efficiency.

Pitney Bowes Inc. (NYSE: PBI) reported its Q2 2021 financial results, achieving a 7% revenue growth to $899 million. GAAP EPS stood at $0.11, boosted by a £0.03 tax benefit. The company emphasized the strong performance of its Global Ecommerce segment, which became EBITDA positive, and Presort Services saw a 14% revenue increase. SendTech Solutions also reported growth, with a revenue rise of 8%. The full-year outlook predicts low-to-mid single-digit revenue growth and an adjusted EPS between $0.35 and $0.42.

Pitney Bowes (NYSE: PBI) has appointed Nick Smith as SVP of Strategy, Product, and Platform Management for Global Ecommerce, while Brent Cervenka joins as SVP of Global Operations from Amazon. Smith, with the company since 2009, will lead the global parcel platform, enhancing ecommerce service delivery. Cervenka brings 15 years of Amazon experience in fulfillment and transportation operations. These strategic appointments aim to reinforce the management team ahead of the peak shipping season, highlighting the company’s commitment to adapting to the evolving ecommerce landscape.

Pitney Bowes (NYSE: PBI) announced a study revealing trends in smart locker usage among 2,200 Americans. The findings show strong preferences for smart lockers among millennials, urban dwellers, and office workers, with 53% concerned about package theft. Notably, 30% would pay more for delivery to a locker. Millennials lead the way, with 33% using smart lockers and 73% appreciating their carbon footprint benefits. The study underscores the growing demand for secure, contactless delivery solutions, particularly as workplaces reopen. Pitney Bowes recently launched ParcelPoint™ Smart Lockers, drawing interest from key markets.

Pitney Bowes (NYSE:PBI) released its 2020 Corporate Responsibility Report, underscoring its commitment to sustainable practices and corporate citizenship. CEO Marc Lautenbach highlighted the company's achievements in achieving carbon neutrality by 2040, enhancing product sustainability, and ensuring employee safety during the COVID-19 pandemic. The report aligns with nine UN Sustainable Development Goals, focusing on areas such as gender equality and climate action. Pitney Bowes was also recognized for its diversity efforts, with 52% of its U.S. workforce being people of color and 43% women globally.

Pitney Bowes (NYSE: PBI) has launched a new and enhanced suite of Cross-Border Services aimed at helping ecommerce merchants expand globally. The upgrade includes enhanced technology and logistics capabilities, supporting clients in reaching over 200 destinations. The suite features four core services: Cross-Border Retail, Cross-Border Storefront, Cross-Border Delivery, and Cross-Border Quoting, designed for various merchant needs. Notably, parcel volumes from cross-border clients grew 100% year-over-year in Q1 2021, underscoring the growth potential in cross-border ecommerce.