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Sep 30, 2022
Pitney Bowes Q3 2022 Earnings Report
Revenue decreased by 5 percent, and GAAP EPS was $0.03.
Key Takeaways
Pitney Bowes reported a 5% decrease in revenue to $831 million for Q3 2022. GAAP EPS was $0.03, while adjusted EPS was $0.00. SendTech and Presort both grew on a constant currency basis, while Global Ecommerce declined due to international macroeconomic challenges.
Revenue in the quarter was $831 million, a decrease of 5 percent on a reported basis versus the comparable quarter in 2021
GAAP EPS was $0.03 and Adjusted EPS was $0.00 in the quarter versus $0.05 and $0.08, respectively, in third quarter 2021
Presort revenue grew 4 percent on a year-over-year basis and with a 500 basis point EBIT margin improvement relative to second quarter 2022
SendTech revenue grew on a constant currency basis driven by high-teens growth in shipping-related revenues
Revenue by Segment
Forward Guidance
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. The Company also expects positive free cash flow for full year 2022.
Positive Outlook
- Reaffirming previously communicated revenue guidance.
- Reaffirming previously communicated EBIT guidance.
- Expecting full year revenue (constant currency) to range from a low-single digit percentage decline to a low single digit percentage increase.
- Expecting full year EBIT to range from a high-single digit percentage decline to a mid-single digit percentage increase.
- Expecting positive free cash flow for full year 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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