Q1 2025 Pitney Bowes Inc Earnings Call Transcript
Key Points
- Pitney Bowes Inc (PBI) reported a 74% year-over-year increase in adjusted EPS, reaching $0.33.
- The company increased its quarterly dividend for the second consecutive quarter, from $0.06 to $0.07 per share.
- Pitney Bowes Inc (PBI) removed an additional $34 million of annualized costs in Q1, raising their cost savings target to $180 million to $200 million.
- The Presort Services segment saw a 5% increase in revenue, driven by higher revenue per piece and improved labor productivity.
- Pitney Bowes Inc (PBI) repurchased $37 million of debt at an average cost slightly below par, improving their financial position.
- Revenue for the quarter was $493 million, down 5% year over year.
- Free cash flow was a use of $20 million, excluding $13 million of restructuring payments.
- SendTech revenue declined by 9%, impacted by the conclusion of the IMI migration and a shift towards lease extensions.
- The company experienced a decline in volumes for Presort Services by 2%, with one less day in the quarter.
- Pitney Bowes Inc (PBI) is still working towards dropping below a 3x leverage ratio target, which limits their ability to make unrestricted payments under current covenants.
Thank you for standing by. My name is Janice, and I will be your conference operator today.
At this time, I would like to welcome everyone to the Q1 2025 Pitney Bowes Inc. Earnings Conference Call. (Operator Instructions)
I'd like to turn the call over to Alex Brown, Director, Investor Relations. Please go ahead.
Good afternoon and thank you for joining us. Included in today's presentation are forward-looking statements about our future business and financial performance. Forward-looking statements involve risks along with uncertainties that could cause actual results to be materially different from our projections.
More information about these items can be found in our earnings press release, our 2024 Form 10-K and other reports filed with the SEC that are located on our website at www.pb.com and by clicking on Investor Relations. Please keep in mind that we do not undertake any obligation to update forward-looking
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
