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Jun 30, 2021
Pitney Bowes Q2 2021 Earnings Report
Pitney Bowes reported solid results for Q2 2021, with revenue growth and positive contributions from all business segments.
Key Takeaways
Pitney Bowes announced its Q2 2021 financial results, reporting revenue of $899 million, a 7% increase year-over-year. GAAP EPS and Adjusted EPS both stood at $0.11. Global Ecommerce achieved EBITDA positive status, and both SendTech and Presort Services experienced revenue and profit growth compared to the previous year.
Revenue increased by 7% to $899 million.
Global Ecommerce achieved EBITDA positive status.
SendTech and Presort Services both grew revenue and profit year-over-year.
GAAP EPS and Adjusted EPS were both $0.11.
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’s full year 2021 expectations remain in-line with its previous communications. Adjusted EPS is expected to be in the range of $0.35 to $0.42. The Company also continues to expect lower free cash flow as compared to prior year primarily due to certain items that benefited 2020 and are not expected to continue at the same level in 2021.
Positive Outlook
- Annual revenue to grow in the low-to-mid single digit range.
- Adjusted EPS to grow over prior year driven largely by the improvement in Global Ecommerce.
- Global Ecommerce is expected to be EBITDA positive for the full year.
- Adjusted EPS is expected to be in the range of $0.35 to $0.42.
Challenges Ahead
- Lower free cash flow as compared to prior year primarily due to certain items that benefited 2020 and are not expected to continue at the same level in 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income