Pitney Bowes Stock Price, News & Analysis

Pitney Bowes (NYSE: PBI) has announced a financing deal through Wheeler Financial with Choice Canning, a food producer based in India. The financing will facilitate the acquisition of refrigerated vehicles for its facility in Pittston, Pennsylvania. This move is expected to yield monthly savings of $28,000 by eliminating rental and third-party transportation costs. Choice Canning will own the assets at the end of a five-year lease. This agreement emphasizes Pitney Bowes' commitment to supporting small to mid-market businesses with flexible financing solutions.

Pitney Bowes (NYSE: PBI) announced the closure of a financing deal by Wheeler Financial with Giuliante Machine Tool, Inc. The transaction is aimed at enhancing manufacturing efficiency in the aerospace sector. Giuliante Machine Tool, known for producing components for military and commercial aircraft, plans to utilize this capital for advanced technology investments. The five-year dollar-buyout lease allows for better cash flow management, especially crucial for small businesses amid ongoing economic challenges from COVID-19.

Pitney Bowes (NYSE: PBI) has launched Same-Day Delivery and SendPro Delivery Assurance through its SendPro® Online platform, enhancing shipping solutions for small- and medium-sized businesses. The Same-Day Delivery service allows businesses to fulfill urgent shipping needs with an average two-hour delivery window, while Delivery Assurance offers credits for delayed USPS® Priority Mail shipments. This initiative aims to provide cost-effective, reliable delivery options amidst rising parcel volumes in the U.S., empowering businesses with greater choice and visibility.

Pitney Bowes Inc. (NYSE:PBI) has announced a quarterly cash dividend of $0.05 per share on its common stock. This dividend will be paid on December 8, 2020, to stockholders recorded as of November 17, 2020. The company's diverse solutions in ecommerce, shipping, mailing, and financial services are utilized by clients including 90% of Fortune 500 companies, reflecting its significant role in facilitating global commerce.

Pitney Bowes Inc. (PBI) reported a 13% revenue growth in Q3 2020, totaling $892 million, marking its strongest organic growth in over a decade. GAAP EPS was $0.07 and adjusted EPS was $0.08. The company noted that shipping-related revenues made up half of total revenue, with Global Ecommerce revenue exceeding $400 million for the first time, an increase of 47%. Free cash flow reached $85 million. The CEO expressed optimism about capitalizing on market opportunities despite ongoing uncertainties related to the Covid-19 pandemic.

Pitney Bowes (NYSE: PBI) announced the launch of new digital sending technologies for Canadian businesses, including the SendPro® Enterprise SaaS-based platform and Intelligent Locker solutions. These innovations aim to enhance cost control, visibility, and efficiency for organizations facing increased parcel delivery demands. The company also introduced SendPro® Online with added capabilities from Purolator to support small- and medium-sized businesses. Bill Mackrell highlighted the importance of these technologies in managing rising shipment volumes amid ongoing pandemic challenges. This announcement coincides with Pitney Bowes' centennial celebration.

Pitney Bowes' latest Parcel Shipping Index indicates global parcel volume exceeded 100 billion in 2019, reaching 103 billion, with forecasts suggesting it may double to 220-262 billion by 2026. China leads in parcel shipments, accounting for over 60% of the total. The report highlights Amazon Logistics' significant growth, reporting a 155% increase in parcel volume year-over-year. While all major markets showed growth, Japan was the only country to experience a decline. Overall, global parcel revenue rose by 9% to $351 billion in 2019.

Pitney Bowes (NYSE:PBI) has launched BOXpoll™, a market research tool focused on consumer behavior in ecommerce. The first survey reveals that post-pandemic, many Americans intend to alter their shopping habits, continuing to shop online frequently. 54% of consumers shop online more than before, with 73% enjoying the experience. BOXpoll aims to provide insights for ecommerce clients, helping them adapt to changing consumer preferences, including a distinct interest in new brands. The survey was conducted with over 2,000 online shoppers, reflecting behaviors likely to persist beyond COVID-19.