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Mar 31, 2024
Pitney Bowes Q1 2024 Earnings Report
Pitney Bowes reported mixed results for Q1 2024. Revenue remained relatively flat, but adjusted EBIT increased significantly. Net loss improved compared to the previous year, and the company is maintaining its full-year guidance.
Key Takeaways
Pitney Bowes announced its Q1 2024 financial results, reporting flat revenue of $831 million compared to the prior year. The company experienced a net loss of $3 million, an improvement of $5 million year-over-year. Adjusted EBIT increased by $23 million to $56 million. The company is maintaining its full-year 2024 guidance, expecting revenue growth to range from flat to a low-single digit decline and EBIT margins to remain relatively flat year-over-year.
Revenue was $831 million, flat compared to the prior year.
Net loss improved by $5 million year-over-year, despite higher interest and tax expense.
Adjusted EBIT increased by $23 million, up 71 percent over the prior year.
Free cash flow was a use of $17 million, an improvement of $43 million year-over-year.
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 is maintaining its guidance and expects revenue growth to range from flat to a low-single digit decline and EBIT margins to remain relatively flat on a year-over-year basis. They anticipate similar levels of capital expenditures in 2024 as in 2023 and expect interest expense and taxes to increase over prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income