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 technology-driven products and services company that provides SaaS shipping solutions, mailing innovation and financial services to clients worldwide. The company’s news flow reflects both its operational performance in SendTech Solutions and Presort Services and its active management of capital structure and governance.
On this page, readers can follow news about Pitney Bowes’ segment results, non-GAAP performance metrics and strategic priorities. Recent press releases have detailed quarterly financial results, including revenue by segment, Adjusted EBIT, Adjusted EBITDA, Adjusted EPS and free cash flow, along with commentary from management and CEO letters that discuss strategic reviews, cost reduction initiatives and capital allocation plans.
Investors can also track capital markets activity, such as offerings of 1.50% Convertible Senior Notes due 2030, related capped call transactions, share repurchase activity and cash tender offers for outstanding notes like the 6.70% Notes due 2043 and 5.250% Medium-Term Notes due 2037. In addition, Pitney Bowes issues announcements regarding changes to its revolving credit facility and other financing arrangements.
Governance and board-level developments are another key theme in Pitney Bowes news, including appointments of new directors, departures of executives, and related separation agreements. Together, these updates provide a view into how the company manages its shipping and mailing technology businesses, financial services platform and capital structure. Bookmark this page to monitor the latest PBI news, earnings releases, capital markets transactions and corporate governance disclosures in one place.
Pitney Bowes (NYSE:PBI) has announced a quarterly cash dividend of $0.05 per share, scheduled for payment on June 7, 2021. Stockholders of record as of May 21, 2021 will receive this dividend. The company, a leader in providing technology solutions for ecommerce, shipping, mailing, and financial services, serves a diverse client base, including 90% of the Fortune 500. Pitney Bowes has been an innovator for over 100 years, focusing on simplifying commerce transactions for businesses worldwide.
Pitney Bowes reported Q1 2021 revenue of $915 million, marking a 15% increase from the previous year. The company's global ecommerce segment achieved significant growth, with revenues up 41% and positive EBITDA in March. Despite a GAAP EPS loss of ($0.18), adjusted EPS improved to $0.07, aided by a tax benefit. Debt was reduced by $126 million, enhancing the capital structure. Full-year expectations include low-to-mid single-digit revenue growth, with adjusted EPS anticipated to increase, particularly from ecommerce improvements.
Pitney Bowes (NYSE: PBI) announced its Sending Technology Solutions division has received J.D. Power certification for technical support excellence for the second consecutive year. This year's recognition includes enhancements in onsite field service delivery and self-service support. A rigorous audit assessed over 500 support processes and customer satisfaction research revealed that satisfied customers are significantly more likely to recommend Pitney Bowes services. This achievement underlines the company's commitment to exceptional client experiences.
Pitney Bowes (NYSE: PBI) released its latest BOXpoll results on Earth Day 2021, highlighting consumer preferences for sustainability. The survey found that 38% of consumers are more likely to buy products with sustainable features, with 10% actively seeking them. Younger consumers and affluent households show the highest sustainability interest, yet 59% of consumers report sustainability does not influence their purchases. Additionally, 67% believe sustainable packaging is costlier, valuing it at an average of $5.70 more than traditional options.
Pitney Bowes (NYSE: PBI) announced the expiration of its cash tender offers for up to $375 million of its outstanding notes. The offers concluded on April 2, 2021, with over $356 million of notes accepted for purchase before the early tender deadline. The company expects to accept an additional $6 million of notes that were validly tendered by the expiration time. The settlement for these notes is scheduled for April 6, 2021. Following credit rating downgrades, the interest rates for certain notes will increase in April and May 2021, affecting the overall cost of borrowing.
Pitney Bowes (NYSE: PBI) reports findings from its latest BOXpoll™, indicating that one in three Americans either plan to relocate or are uncertain about their current residence in the next 12-18 months. The survey highlights a trend towards moving to less populated areas, especially among younger demographics. Forty-five percent of movers expect better delivery and return services at their new locations, signaling changing consumer expectations in ecommerce logistics.
Pitney Bowes (NYSE: PBI) announced early results for its cash tender offers to purchase up to $375 million of its outstanding notes. The Early Tender Time was set for 5:00 p.m. on March 19, 2021. The company has extended the deadline for an Early Tender Premium for the 4.625% Notes due 2024 to April 2, 2021. It increased the buyback limits for both the 4.700% Notes due 2023 from $125 million to $180 million, and the 3.875% Notes due 2022 from $25 million to $80 million. The total aggregate principal amount of notes tendered by the Early Tender Time reached $356.3 million.
Pitney Bowes (NYSE:PBI) announced the pricing of a private offering of $400M in 6.875% senior unsecured notes due 2027 and $350M in 7.250% senior unsecured notes due 2029. The offering, expected to close around March 19, 2021, aims to repay a portion of existing borrowings and finance a concurrent tender offer for existing notes. Additionally, the company secured a $450M term loan facility maturing in seven years. The notes will not be registered under the Securities Act and are subject to transfer restrictions.
Pitney Bowes (NYSE:PBI) announced an intention to offer $800 million in senior notes due 2027 and 2029. The notes will be guaranteed by certain subsidiaries and will be offered only to qualified institutional buyers. Proceeds will be used to repay part of a secured term loan and for a concurrent tender offer for existing notes amounting to $375 million, with any excess funds allocated for general corporate purposes. The offering is subject to market conditions and is not contingent on the repayment of loans.
Pitney Bowes announced cash tender offers to purchase up to $375 million of its outstanding notes, including 4.625% Notes due 2024 and 4.700% Notes due 2023. The offers are subject to conditions outlined in an Offer to Purchase dated March 8, 2021. With interest rates recently downgraded, the 4.700% Notes will increase to 6.200%% on April 1, 2021. The offers will expire on April 2, 2021, with an early tender deadline of March 19, 2021. Selected notes will incur an early tender premium, enhancing total consideration for early participants.