Pitney Bowes' Q2 Revenue Lags Street View Weighed By Cross-Border Weakness
Portfolio Pulse from Nabaparna Bhattacharya
Pitney Bowes Inc. (NYSE:PBI) reported a Q2 FY23 sales decline of 10.9% YoY to $776.48 million, missing the analyst consensus of $809.61 million. The company's adjusted EPS was a $(0.02) loss, beating the consensus of a $(0.04) loss. The company's performance was weighed down by cross-border weakness in the Global Ecommerce segment and decreasing equipment sales in SendTech Solutions. The company declared a quarterly cash dividend of $0.05 per share and expects full-year revenue to be on the lower end of previously provided guidance.
August 04, 2023 | 1:48 pm
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Pitney Bowes reported lower than expected Q2 FY23 sales and a decline in Global Ecommerce and SendTech Solutions revenues. However, it beat EPS consensus and declared a dividend.
Pitney Bowes' lower than expected sales and declining revenues in key segments indicate a challenging operating environment, which could negatively impact its stock price. However, the company's ability to beat EPS consensus and declare a dividend may provide some support.
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RELEVANCE 100