Loading...
•
Dec 31, 2022
Pitney Bowes Q4 2022 Earnings Report
Pitney Bowes' Q4 2022 earnings were announced, revealing a mix of progress and challenges.
Key Takeaways
Pitney Bowes reported Q4 2022 revenue of $909 million, an 8% decrease year-over-year. GAAP EPS was $0.04, and adjusted EPS was $0.06. The company saw progress in its SendTech and Presort businesses, with Global Ecommerce making strides in network volumes and profitability. Financial Services also performed well during the quarter.
Revenue decreased by 8 percent on a reported basis but was flat on a comparable basis.
GAAP EPS was $0.04, while Adjusted EPS was $0.06, matching the Adjusted EPS from Q4 2021.
Global Ecommerce processed 54 million in Domestic Parcel volume.
Presort grew year-over-year revenues and expanded EBIT margins by 440 basis points compared to the previous quarter.
Pitney Bowes
Pitney Bowes
Pitney Bowes Revenue by Segment
Revenue by Segment
SendTech Solutions Revenue
CapyFin.comPresort Services Revenue
CapyFin.com Forward Guidance
Pitney Bowes anticipates flat to mid-single digit percentage revenue growth on a comparable basis for the full year 2023. The company also expects percentage EBIT growth to outpace revenue growth, driven by continued improvements in GEC profitability.
Positive Outlook
- Flat to mid-single digit percentage revenue growth on a comparable basis is expected.
- Percentage EBIT growth is projected to outpace revenue growth.
- GEC profitability is expected to continue improving.
- Strong demand for new mailing and shipping products.
- Growth in Equipment sales and Service Revenues.
Challenges Ahead
- Near-term challenges across the economy remain uncertain.
- Potential impacts of inflation and rising prices, higher interest rates and a slow-down in economic activity.
- Risk of losing some of the larger clients in Global Ecommerce and Presort Services segments.
- Declining physical mail volumes.
- Changes in postal regulations or the operations and financial health of posts in the U.S. or other major markets or changes to the broader postal or shipping markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income