Pitney-Bowes (PBI) Reports In-Line Q2 EPS, Miss on Revenues

Pitney-Bowes (NYSE: PBI) reported Q2 EPS of $0.26, in-line with the analyst estimate of $0.26. Revenue for the quarter came in at $861 million versus the consensus estimate of $864.17 million.

Quarterly Financial Results:

• Revenue of $861 million, an increase of 18 percent as reported and 17 percent at constant currency versus prior year
• GAAP EPS of $0.26; Adjusted EPS of $0.26
• GAAP cash from operations of $92 million; free cash flow of $30 million
• The Company is reaffirming its prior 2018 annual guidance

Transaction Closed and Debt Management:

“Our second quarter financial results demonstrate the continued progress we are making to move our Company to sustained growth,” said Marc B. Lautenbach, President and CEO, Pitney Bowes. “We generated revenue growth for the fourth consecutive quarter and also grew EBIT dollars. The revenue growth was driven largely by our Commerce Services business, which contributed more than 40 percent of our total revenue. Our Software business also performed well driven by a strong contribution from our indirect and direct channels. I am pleased with the progress we are making to transform our Company.”

For earnings history and earnings-related data on Pitney-Bowes (PBI) click here.

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