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Jun 30, 2022
Pitney Bowes Q2 2022 Earnings Report
Pitney Bowes' financial results were below expectations due to macroeconomic headwinds in Global Ecommerce, but were enhanced by domestic parcel network service improvements and Presort and SendTech revenue growth.
Key Takeaways
Pitney Bowes reported a 3% decrease in revenue to $871 million, with GAAP EPS and Adjusted EPS at $0.02. The company faced macroeconomic headwinds in Global Ecommerce, but saw domestic parcel revenue growth and Presort revenue increase by 3%. Proceeds from the sale of Borderfree enhanced financial flexibility.
Revenue decreased by 3% to $871 million, or 2% on a constant currency basis.
GAAP EPS and Adjusted EPS were $0.02, down from $0.11 in the second quarter of 2021.
Global Ecommerce experienced domestic parcel revenue growth of 6%.
Presort revenue grew 3% 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
Based on uncertain macroeconomic conditions, first half results, and the sale of Borderfree, the Company expects full year revenue (constant currency) to range from a low-single digit percentage decline to a low single digit percentage increase. The Company also expects full year EBIT to range from a high-single digit percentage decline to a mid-single digit percentage increase. In addition, the Company expects to generate solid free cash flow for full year 2022 though at a lower level than prior year.