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 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.
Pitney Bowes (NYSE:PBI) has announced the redemption of all outstanding 3.375% Notes due 2021, with redemption scheduled for February 22, 2021. The redemption price will total 100% of the principal amount along with accrued interest and any applicable make-whole amount. Following the redemption date, interest on the Notes will cease to accrue. The Bank of New York Mellon will notify all registered holders of the redemption.
Pitney Bowes (NYSE: PBI) announced that its bank has signed a term loan and a revolving line of credit with SST Corporation, a pharmaceutical ingredient distributor. This financing aims to consolidate SST's existing debt and provide necessary capital for growth. SST faced challenges with its previous bank and chose Pitney Bowes for its accessibility and understanding of SMB needs. The deal showcases Pitney Bowes' commitment to supporting small- and mid-market businesses as part of its expanded financial services portfolio.
Pitney Bowes has declared a $0.05 quarterly cash dividend on its common stock, scheduled for payment on March 8, 2021. Stockholders of record as of February 12, 2021 will receive this dividend. Pitney Bowes is a global technology company specializing in commerce solutions across ecommerce, shipping, and mailing, serving clients including 90% of the Fortune 500. With a century of innovation, the company focuses on simplifying commerce transactions through advanced technology and accurate analytics.
Pitney Bowes reported strong financial results for Q4 and full year 2020. Q4 revenue reached $1.0 billion, up 24%, driven by a 60% surge in Global Ecommerce revenue, exceeding $500 million for the first time. Full year revenue was $3.6 billion, an 11% increase. However, the company reported a GAAP EPS loss of $1.06 for 2020. Despite the challenges posed by the pandemic, Pitney Bowes aims for low-to-mid single digit revenue growth in 2021, with adjusted EPS expected to rise.
Pitney Bowes (NYSE: PBI) has achieved a major milestone, with clients processing one billion mail pieces using SendPro C® and SendPro C® Auto. These platforms enable efficient processing, printing, and shipping, managing around 2 million mail pieces daily in North America. Launched three years ago, SendPro C provides a digitally connected all-in-one solution, enhancing productivity for businesses during the pandemic. The technology also offers clients preferential rates and cost management capabilities, bolstered by a collaboration with UPS for shipping savings.