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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
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 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