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Stronger Q1 prompts Pitney Bowes (NYSE: PBI) to raise 2026 targets

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Pitney Bowes Inc. reported strong preliminary, unaudited results for Q1 2026 and raised its full-year 2026 financial guidance. For the quarter, revenue was approximately $477 million versus $493 million a year earlier, a 3% decline that marks an improvement from prior quarters’ steeper drops.

Adjusted EBIT was about $130 million, up from $120 million, while adjusted EPS rose to roughly $0.47 from $0.33. Free cash flow improved to around $44 million compared with a use of $20 million in Q1 2025. For full-year 2026, the company increased guidance across revenue, Adjusted EBIT, Adjusted EPS and free cash flow ranges, even after deciding to include about $15.4 million of pension-related costs and a $0.08 post-tax pension addback in these adjusted measures.

Positive

  • Broad guidance raise despite adding pension costs to non-GAAP metrics: 2026 ranges for revenue, Adjusted EBIT, Adjusted EPS and free cash flow all increased even after including approximately $15.4 million and $0.08 of pension-related expenses.
  • Stronger profitability and cash generation in Q1 2026: Adjusted EBIT rose to about $130 million from $120 million, Adjusted EPS improved from $0.33 to roughly $0.47, and free cash flow moved to approximately $44 million from a $20 million use.

Negative

  • None.

Insights

Preliminary Q1 2026 results beat prior trends and support a broad guidance raise.

Pitney Bowes posted Q1 2026 revenue of about $477 million, down modestly from $493 million but improving from recent 5–7% declines. Profitability strengthened, with Adjusted EBIT rising to roughly $130 million and Adjusted EPS increasing to about $0.47 from $0.33. Free cash flow swung to approximately $44 million from a $20 million use.

The company also raised full-year 2026 guidance for revenue, Adjusted EBIT, Adjusted EPS and free cash flow. Notably, it chose to include roughly $15.4 million of pension-related costs and a $0.08 post-tax pension impact in these adjusted metrics, yet still lifted targets, suggesting early-year outperformance and better sales momentum within SendTech and Presort. Investors can revisit the finalized figures when Q1 2026 results are released after market close on May 5, 2026, followed by the conference call on May 6, 2026.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q1 2026 Revenue $477 million (approx.) Preliminary unaudited; vs $493 million in Q1 2025, a 3% decline
Q1 2026 Adjusted EBIT $130 million (approx.) Preliminary unaudited; vs $120 million in Q1 2025
Q1 2026 Adjusted EPS $0.47 (approx.) Preliminary unaudited; vs $0.33 in Q1 2025
Q1 2026 Free Cash Flow $44 million (approx.) Preliminary; improved from a $20 million use in Q1 2025
2026 Revenue Guidance $1.8–$1.86 billion Updated range; initial guidance was $1.76–$1.86 billion
2026 Adjusted EBIT Guidance $425–$465 million Updated range; initial guidance was $410–$460 million
2026 Adjusted EPS Guidance $1.50–$1.65 Updated range; initial guidance was $1.40–$1.60
Pension Costs in Adjusted Metrics $15.4 million and $0.08 Pension-related expenses now included in Adjusted EBIT and Adjusted EPS guidance
Adjusted EBIT financial
"Adjusted EBIT (AEBIT) of approximately $130 million, compared to Q1 2025 Adjusted EBIT of $120 million."
Adjusted EBIT is a company’s operating profit before interest and taxes, but cleaned up by removing one-time or unusual items that can obscure ongoing performance. Investors use it like a tidied-up report card — it aims to show the underlying profitability of the business by excluding irregular gains, losses, or costs so comparisons across periods or companies are clearer and more meaningful for valuing operational strength.
Adjusted EPS financial
"Adjusted EPS of approximately $0.47, compared to Q1 2025 Adjusted EPS of $0.33."
Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.
Free Cash Flow financial
"Free Cash Flow of approximately $44 million, compared to Q1 2025 use of $20 million."
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Adjusted Segment EBIT financial
"Adjusted Segment EBIT is the primary measure of profitability and operational performance at the segment level."
Adjusted segment EBIT is the operating profit for a specific part of a business before interest and taxes, with one-time charges, non-recurring gains or accounting quirks removed. It isolates how well that division is running day-to-day—like checking a store’s till after removing a one-off insurance payout or big repair bill—so investors can compare true operating performance across units without distortions from financing, taxes or unusual items.
non-GAAP measures financial
"Pitney Bowes also discloses certain non-GAAP measures, such as adjusted earnings before interest and taxes (Adjusted EBIT)..."
Financial results that companies present using formulas or adjustments different from standard accounting rules (GAAP) to highlight what management considers the business’s ongoing performance. Investors care because these figures can make trends or profitability look clearer—like showing a car’s fuel efficiency after removing unusual trips—but they can also hide one‑time costs or aggressive assumptions, so comparing them with GAAP numbers helps judge reliability.
forward-looking statements regulatory
"This document contains “forward-looking statements” about the Company’s expected or potential future business and financial performance..."
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Revenue $477 million (approx.) vs $493 million in Q1 2025; 3% decline
Adjusted EBIT $130 million (approx.) vs $120 million in Q1 2025
Adjusted EPS $0.47 (approx.) vs $0.33 in Q1 2025
Free Cash Flow $44 million (approx.) vs $20 million use in Q1 2025
Guidance

Updated 2026 guidance: revenue $1.8–$1.86 billion, Adjusted EBIT $425–$465 million, Adjusted EPS $1.50–$1.65, and free cash flow $345–$380 million, now including certain pension-related costs.

Understanding 8-K Material Events →
0000078814false00000788142026-04-212026-04-210000078814us-gaap:CommonStockMember2026-04-212026-04-210000078814pbi:A6.70Notesdue2043Member2026-04-212026-04-21

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

April 21, 2026
Date of Report (Date of earliest event reported)

Pitney Bowes Inc.
(Exact name of registrant as specified in its charter)
Delaware
1-3579
06-0495050
(State or other jurisdiction of
incorporation or organization)		(Commission file number)(I.R.S. Employer Identification No.)

Address:27 Waterview Drive,Shelton,Connecticut06484
Telephone Number:(203)922-4000

Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, $1 par value per sharePBINew York Stock Exchange
6.70% Notes due 2043PBI.PRBNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act. ☐


ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On April 21, 2026, Pitney Bowes Inc. (the “Company”) issued a press release announcing certain preliminary, unaudited financial results for the first quarter of fiscal year 2026. A copy of the press release is furnished with this report as Exhibit 99.1 and incorporated by reference herein.
The certain preliminary results included in Exhibit 99.1 are based upon estimated, preliminary unaudited financial results. The Company’s actual results may differ from these results due to final adjustments and developments that may arise or information that may become available between now and the time the Company’s financial results for the quarter ended March 31, 2026 are finalized and included in the Company’s Form 10-Q for the quarter ended March 31, 2026. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits
99.1
Press release of Pitney Bowes Inc. dated April 21, 2026.
104The cover page of Pitney Bowes Inc.'s Current Report on Form 8-K, formatted in Inline XBRL.





SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Pitney Bowes Inc.
By:/s/ Kurt Wolf
Name: Kurt Wolf
Date: April 21, 2026Title: Chief Executive Officer
 


Exhibit 99.1

Pitney Bowes Announces Strong Preliminary Results for Q1 2026 and Raises Full-Year Financial Guidance
Company Will Issue Complete Q1 2026 Results Post-Market on May 5, 2026, and Host an Investor Conference Call the Following Morning

SHELTON, Conn. (April 21, 2026)- Pitney Bowes Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides digital shipping solutions, mailing innovation, and financial services to clients around the world, today announced preliminary, unaudited financial results for the first quarter of fiscal year 2026. In addition, Pitney Bowes announced it is raising its full-year financial guidance.

Kurt Wolf, Chief Executive Officer and Director, commented:

“We delivered strong financial results in the first quarter thanks to exceptional execution across the organization. Our performance reflects broad-based revenue strength in SendTech, competitive wins in Presort, and continued cost management throughout all of our functional areas and business units. Our robust start to the year, combined with improving sales trends and share repurchases, has given us the confidence to raise our full-year guidance across all financial metrics. Our strong results and improving outlook are a testament to the dedication of the Pitney Bowes employee base. Their hard work has enabled us to build momentum as we pivot to pursuing profitable growth.”

Preliminary, Unaudited Financial Results for Q1 2026

•Revenue of approximately $477 million, compared to Q1 2025 revenue of $493 million. This 3% rate of decline represents an improvement from our 5% Y-o-Y decline in Q1 of 2025 and a 7% Y-o-Y decline last quarter.

•Adjusted EBIT (AEBIT) of approximately $130 million, compared to Q1 2025 Adjusted EBIT of $120 million.

•Adjusted EPS of approximately $0.47, compared to Q1 2025 Adjusted EPS of $0.33.

•Free Cash Flow of approximately $44 million, compared to Q1 2025 use of $20 million.

Updated Full Year 2026 Guidance

$ millions, except EPS
Updated Guidance
Initial Guidance
Revenue
$1,800 - $1,860 
$1,760 - $1,860
Adjusted EBIT*
$425 - $465
$410 - $460
Adjusted EPS*
$1.50 - $1.65 
$1.40 - $1.60
Free Cash Flow
$345 - $380
$340 - $370
1


*Initial Guidance for Adjusted EBIT and Adjusted EPS excluded approximately $15.4 million and $0.08, respectively, in certain pension related expenses. After further analysis, the Company concluded it will no longer exclude these expenses. As such, Updated Guidance for Adjusted EBIT now includes an addback of approximately $15.4 million of pension related costs, and Adjusted EPS now includes an addback of $0.08 of post-tax pension related costs.

Please note that, even after accounting for the inclusion of these costs, the Company felt confident issuing increased Updated Guidance based on early-year outperformance, increased sales momentum, improving forecasting capabilities, and a reduction in share count.

Conference Call and Webcast

The Company will issue its results for the first quarter of 2026 on May 5, 2026, after market close and host an investor conference call the next morning at 8:00 a.m. ET. This call and all supplemental information can be accessed on Pitney Bowes’ investor relations site at https://www.investorrelations.pitneybowes.com/.

When: May 6, 2026 
Time: 8:00am ET 
Conference Call Pre-Registration: Dial-in Link
Webcast: Webcast Link

A recording of the call will also be available on the Company’s website after the call.

About Pitney Bowes

Pitney Bowes (NYSE: PBI) is a technology-driven company that provides digital shipping solutions, mailing innovation, and financial services to clients around the world – including more than 90 percent of the Fortune 500. Small businesses to large enterprises, and government entities rely on Pitney Bowes to reduce the complexity of sending mail and parcels. For the latest news, corporate announcements, and financial results, visit www.pitneybowes.com/us/newsroom. For additional information, visit Pitney Bowes at www.pitneybowes.com.

Adjusted Segment EBIT 

Adjusted Segment EBIT is the primary measure of profitability and operational performance at the segment level. Adjusted Segment EBIT includes segment revenues and related costs and expenses attributable to the segment, but excludes interest, taxes, restructuring charges, corporate expenses, and other items not allocated to a business segment. We also report Adjusted Segment EBITDA as an additional useful measure of segment profitability and operational performance, which is calculated as Adjusted Segment EBIT plus depreciation and amortization expense of the segment.

Use of Non-GAAP Measures 

Pitney Bowes’ financial results are reported in accordance with generally accepted accounting principles (GAAP). Pitney Bowes also discloses certain non-GAAP measures, such as adjusted earnings before interest and taxes (Adjusted EBIT), adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA), adjusted earnings per share (Adjusted EPS) and free cash flow.

2


Adjusted EBIT, Adjusted EBITDA and Adjusted EPS exclude the impact of restructuring charges, foreign currency gains and losses on intercompany loans, certain costs associated with the Ecommerce Restructuring, gains and losses on debt redemptions and other unusual items that we believe are not indicative to our core business operations.

Free cash flow adjusts cash flow from operations calculated in accordance with GAAP for capital expenditures, restructuring payments and other special items. Management believes free cash flow provides better insight into the amount of cash available for other discretionary uses.

Forward-Looking Statements 

This document contains “forward-looking statements” about the Company’s expected or potential future business and financial performance, including, but not limited to, statements about future revenue and earnings guidance. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected. Factors which could cause future financial performance to differ materially from expectations include, without limitation, changes in postal regulations or the operations and financial health of posts in the U.S. or other major markets or changes to the broader postal or shipping markets; accelerated or sudden decline in physical mail volumes; inability to compete effectively with our Sending Technology Solutions competitors; changes in trade policies, tariffs and regulations; the loss of some of Pitney Bowes’ larger clients in the Presort Services segment; global supply chain issues adversely impacting our third party suppliers’ ability to provide us products and services; periods of difficult economic conditions, the impacts of inflation and rising prices, higher interest rates and a slow-down in economic activity, including a global recession, or a U.S. government shutdown, to the Company and our clients; changes in foreign currency exchange rates; changes in labor and transportation availability and costs; inability to successfully execute on our strategic initiatives; and other factors as more fully outlined in the Company's 2025 Form 10-K/A Annual Report and other reports filed with the Securities and Exchange Commission during 2026. Pitney Bowes assumes no obligation to update any forward-looking statements contained in this document as a result of new information, events, or developments.

Contacts

For Investors:

Alex Brown
investorrelations@pb.com

3

Source: View Original Filing on SEC EDGAR

FAQ

How did Pitney Bowes (PBI) perform in Q1 2026 based on preliminary results?

Pitney Bowes reported preliminary Q1 2026 revenue of about $477 million, down from $493 million. Adjusted EBIT rose to roughly $130 million and adjusted EPS increased to around $0.47, while free cash flow improved to approximately $44 million from a $20 million use.

Did Pitney Bowes (PBI) change its full-year 2026 financial guidance?

Pitney Bowes raised its full-year 2026 guidance for revenue, Adjusted EBIT, Adjusted EPS and free cash flow. The updated ranges are $1.8–$1.86 billion in revenue, $425–$465 million Adjusted EBIT, $1.50–$1.65 Adjusted EPS, and $345–$380 million free cash flow.

What are the main differences between Pitney Bowes’ updated and initial 2026 guidance?

Updated 2026 guidance lifts the revenue low end from $1.76 billion to $1.8 billion and raises the Adjusted EBIT, Adjusted EPS, and free cash flow ranges. Importantly, updated Adjusted EBIT and Adjusted EPS now include pension-related costs that were previously excluded.

How did Pitney Bowes’ profitability metrics change in Q1 2026 versus Q1 2025?

In Q1 2026, Adjusted EBIT increased to about $130 million from $120 million and Adjusted EPS rose to roughly $0.47 from $0.33. These preliminary figures indicate stronger profitability despite modestly lower revenue compared with the prior-year quarter.

When will Pitney Bowes release full Q1 2026 results and hold its conference call?

Pitney Bowes plans to issue complete Q1 2026 results after market close on May 5, 2026. The company will then host an investor conference call the next morning, May 6, 2026, at 8:00 a.m. Eastern Time, accessible via its investor relations website.

How did Pitney Bowes’ free cash flow trend in Q1 2026 compared to Q1 2025?

Free cash flow in Q1 2026 was approximately $44 million, a significant improvement from a $20 million use in Q1 2025. This turnaround indicates better cash generation early in 2026, based on the company’s preliminary, unaudited results.

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