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Dec 31, 2020
Pitney Bowes Q4 2020 Earnings Report
Pitney Bowes reported strong Q4 2020 results, marked by revenue growth and strategic progress.
Key Takeaways
Pitney Bowes announced a remarkable fourth quarter, with a 24% increase in revenue to $1.0 billion. GAAP EPS was $0.11, and adjusted EPS was $0.13. The company reduced debt by $31 million and saw significant growth in Global Ecommerce revenue, which exceeded $500 million for the first time.
Revenue grew by 24% reaching $1.0 billion.
Global Ecommerce revenue increased by 60% year-over-year, surpassing $500 million.
SendTech Solutions experienced revenue, EBIT, and EBITDA growth.
The company reduced debt by $31 million during the quarter.
Revenue by Segment
Forward Guidance
The Company expects annual revenue to grow over prior year in the low-to-mid single digit range, making 2021 the fifth consecutive year of constant currency growth. The Company expects adjusted EPS to grow over prior year. The Company also expects lower free cash flow primarily due to the changes in certain working capital items that benefitted 2020 and are not expected to continue at the same level in 2021.
Positive Outlook
- Annual revenue is expected to grow in the low-to-mid single digit range.
- 2021 will be the fifth consecutive year of constant currency growth.
- Adjusted EPS is expected to grow over the prior year.
- SendTech solutions are expected to continue to drive growth.
- Global Ecommerce is expected to maintain its growth trajectory.
Challenges Ahead
- Free cash flow is expected to be lower due to changes in working capital items.
- Increased costs related to postal, transportation, and labor might impact profitability.
- Potential impacts from Covid-19 regarding operations, employees, and supply chain.
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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