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) 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.
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.