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. reports developments in digital shipping solutions, mailing innovation, financial services, and postal processing services. Company updates commonly cover SendTech and Presort activity, SendPro platform capabilities, results releases, guidance, cost management, and capital allocation actions such as share repurchases, debt reduction, and note tender offers.
News also includes security and compliance milestones for cloud-based shipping and mailing tools, including SendPro 360 authorization for U.S. defense use, as well as leadership changes tied to The Pitney Bowes Bank, SendTech, Presort, and corporate finance.
Pitney Bowes (NYSE: PBI) reports its weekly BOXpoll consumer surveys indicating that ecommerce utilization rates in the U.S. remain strong, despite a 7% drop since January, with 47% of consumers shopping online more than pre-pandemic. The easing of mask mandates impacts shopping behavior, with 22% saying they will shop in-store more often. Moreover, 41% of consumers report a decrease in 'bracketing' practices. The company highlights increased consumer trust in retailers offering delivery guarantees, which could influence future online shopping trends.
Pitney Bowes develops plans to deploy AmbiSort robots, advanced automated parcel sorting systems, across its US ecommerce hubs over five years. This initiative aims to enhance operational efficiency, accuracy, and worker safety amidst rising parcel volumes. Following a successful pilot in Bloomington, California, the AI-powered systems improved sorting capabilities and productivity, providing clients with enhanced service. The partnership with Ambi Robotics underscores Pitney Bowes' commitment to innovative technology in ecommerce logistics, aligning with their goal to attract talent and remain competitive in the labor market.
Pitney Bowes (NYSE: PBI) launched the ParcelPoint™ Smart Lockers, aiming to enhance package management for organizations such as offices and universities. These lockers cater to the growing demand for contactless delivery, especially post-pandemic. With SaaS software for remote management, businesses can choose between pre-configured Express Series lockers, available in four weeks, or customized Plus Series options, delivered in ten weeks. The global automated parcel locker market is projected to exceed $1.4 billion by 2027, driven by rising ecommerce.
Pitney Bowes (NYSE: PBI) released its latest BOXpoll™, indicating a positive retail outlook as household incomes stabilize. The report reveals that 11% of Americans earn more than pre-pandemic levels, with consumer spending expected to rise by 9% this summer compared to last year. Key categories include a 12% increase in sporting goods and 9% in apparel. Notably, younger generations, especially Gen Z, plan significantly higher spending, reflecting a broader trend across urban and mid-income demographics and indicating a recovering retail market.
On May 20, 2021, IBM and Pitney Bowes announced a strategic agreement for IT automation and managed infrastructure services aimed at transforming Pitney Bowes' operations through hybrid cloud computing. This partnership will enhance collaboration between business and IT, supporting Pitney Bowes' operations for clients, including 90% of the Fortune 500. IBM will manage core infrastructure systems to maintain critical business processes, enabling Pitney Bowes to innovate in ecommerce, shipping, and financial services.
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.