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Sep 30, 2021
Pitney Bowes Q3 2021 Earnings Report
Pitney Bowes' third quarter earnings decreased due to a decline in revenue, but Presort services saw growth
Key Takeaways
Pitney Bowes reported revenues of $875 million, a 2% decrease compared to the prior year, but an 11% increase over Q3 2019. GAAP EPS was $0.05, and adjusted EPS was $0.08. The company highlighted Presort revenue growth of 9% and an EBIT margin of 15%, as well as an improvement in Global Ecommerce gross margin.
Revenues of $875 million, down 2 percent from prior year; growth of 11 percent over third quarter 2019
GAAP EPS of $0.05; Adjusted EPS $0.08
Presort revenue growth of 9 percent over prior year and EBIT margin of 15 percent
Global Ecommerce gross margin improved by 100 basis points over prior 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’s full year 2021 expectations remain in-line with its previous communications.
Positive Outlook
- Revenue still expected to grow over prior year in the low-to-mid single digit range
- Adjusted EPS still expected to grow over prior year and be in the range of $0.35 to $0.42
- Management continues to expect Global Ecommerce EBITDA to be positive for full year 2021
Challenges Ahead
- Free cash flow is still expected to be lower as compared to prior year, primarily due to increased capital investments.