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Mar 31, 2022
Pitney Bowes Q1 2022 Earnings Report
Pitney Bowes' first quarter performance was very good, marking a continuation of the trend from the previous year.
Key Takeaways
Pitney Bowes reported a 1% increase in revenue to $927 million. GAAP EPS was $0.12, and adjusted EPS was $0.08. The company saw substantial margin expansion in Global Ecommerce and excellent execution in SendTech and Presort businesses.
Global Ecommerce EBIT margins improved by over 300 basis points year-over-year with positive EBITDA.
Presort revenue grew 12% year-over-year.
SendTech revenue declined 3%, but equipment revenue increased 3% from the comparable quarter in 2021.
Debt reduced by $99 million during the quarter, primarily through the early redemption of the 2023 Notes.
Pitney Bowes
Pitney Bowes
Pitney Bowes Revenue by Segment
Revenue by Segment
SendTech Solutions Revenue
CapyFin.comPresort Services Revenue
CapyFin.com Forward Guidance
The Company continues to expect annual revenue and adjusted EBIT to grow over prior year in the low-to-mid single digit range. Additionally, we expect to generate similar levels of free cash flow in 2022 as 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income