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Last $19.95 USD
Change Today -0.05 / -0.25%
Volume 1.3M
PBI On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

pitney bowes inc (PBI) Key Developments

Pitney Bowes Inc. Declares Quarterly Cash Dividend on Common Stock and Preferred Stock , Payable on September 11, 2015 and October 1, 2015 Respectively

Pitney Bowes Inc. announced that its Board of Directors has declared a quarterly cash dividend on the company’s common stock of $0.1875 per share. The dividend will be paid on September 11, 2015, to stockholders of record on August 21, 2015. In addition, a quarterly cash dividend of $0.53 per share on the company’s $2.12 convertible preference stock, will be paid on October 1, 2015, to stockholders of record on September 11, 2015, and a quarterly cash dividend of $0.50 per share on the company’s 4% convertible cumulative preferred stock will be paid on November 1, 2015, to stockholders of record on October 15, 2015.

Pitney Bowes Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for 2015

Pitney Bowes Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, total revenue was $880,891,000, income from continuing operations before income taxes was $209,453,000, income from continuing operations was $157,102,000 and net income - Pitney Bowes Inc. was $151,770,000 or $0.75 per diluted share against total revenue of $958,450,000, income from continuing operations before income taxes of $138,477,000, income from continuing operations of $92,142,000 and net income - Pitney Bowes Inc. of $94,265,000 or $0.46 per diluted share a year ago. Net income attributable to common stockholders from continuing operations was $152,509,000 or $0.75 per diluted share against $87,548,000 or $0.43 per diluted share a year ago. Income from continuing operations after income taxes, as adjusted was $90,664,000 or $0.45 per diluted share against $93,125,000 or $0.46 per diluted share a year ago. Free cash flow, as adjusted was $83,745,000 against $162,320,000 a year ago. Income from continuing operations before income taxes, as adjusted was $141,151,000 against $146,776,000 a year ago. Adjusted EBIT from continuing operations was $179,990,000 against $188,671,000 a year ago. Adjusted EBITDA from continuing operations was $222,647,000 against $237,793,000 a year ago. Free cash flow during the quarter was $84 million and $96 million on a GAAP basis. In comparison to the prior year, second quarter free cash flow was lower primarily due to the timing of working capital requirements; lower Reserve Account deposits and less of a decline in finance receivables as a result of a stabilizing portfolio. For the six months, total revenue was $1,771,572,000, income from continuing operations before income taxes was $345,049,000, income from continuing operations was $242,151,000 and net income - Pitney Bowes Inc. was $232,382,000 or $1.15 per diluted share against total revenue of $1,895,947,000, income from continuing operations before income taxes of $192,979,000, income from continuing operations of $138,608,000 and net income - Pitney Bowes Inc. of $138,938,000 or $0.68 per diluted share a year ago. Net income attributable to common stockholders from continuing operations was $232,964,000 or $1.15 per diluted share against $129,420,000 or $0.63 per diluted share a year ago. Income from continuing operations after income taxes, as adjusted was $171,066,000 or $0.84 per diluted share against $179,511,000 or $0.88 per diluted share a year ago. Free cash flow, as adjusted was $168,861,000 against $299,928,000 a year ago. Income from continuing operations before income taxes, as adjusted was $276,666,000 against $272,776,000 a year ago. Adjusted EBIT from continuing operations was $258,339,000 against $358,388,000 a year ago. Adjusted EBITDA from continuing operations was $443,492,000 against $451,251,000 a year ago. For the full year of 2015, the company expects trends in the business to improve in the second half of the year versus the first half of the year as a result of recent actions taken to position the portfolio for growth, including go-to-market improvements, new product launches, client wins and partnerships. Based on year-to-date results and the company’s expectation of constant currency revenue growth of 1% to 5% in the second half of the year, the company is adjusting its annual revenue guidance. The company now expects revenue to be in the range of 1% decline to 1% growth when compared to 2014 on a constant currency basis. The company is increasing its annual GAAP EPS guidance to be in the range of $2.06 to $2.21. This guidance includes the following: $0.44 per share of Other income related to the net gain from the sale of Imagitas; $0.05 per share of Other expense for the resolution in principle of an outstanding legal matter and transaction costs and fees related to the Borderfree and Imagitas transactions; $0.04 per share of Restructuring and asset impairment charges; $0.04 per share of compensation expense related to the vesting of options associated with the Borderfree acquisition; $0.06 per share of reduced earnings as a result of the sale of Imagitas; and $0.04 per share of reduced earnings related to Borderfree, which includes principally amortization of intangibles and integration investments net of early savings from expected synergies. The company is updating its adjusted EPS and free cash flow guidance solely to reflect the impacts of the Borderfree acquisition and Imagitas sale. Adjusted EPS is now expected to be in the range of $1.75 to $1.90. Free cash flow is now expected to be in the range of $450 million to $525 million.

General Electric Company and Pitney Bowes Announces an Alliance to Develop Asset Performance Management

General Electric Company and Pitney Bowes have announced an alliance to develop asset performance management, or APM, applications for Pitney Bowes and its enterprise business solutions customers. All of the services will be built on and powered by Predix, GE's software platform for the Industrial Internet. This will enable Pitney Bowes to analyze data generated from its own production mailing and shipping machines and those of its clients to provide client and productivity services, and job scheduling capabilities that improve business outcomes. Pitney Bowes clients, such as financial institutions, telecommunications providers, and insurance firms, are producing and mailing hundreds of thousands of transactional and direct mail pieces daily. By combining the physical and digital elements of high-speed production mail operations and leveraging big data analytics, they will gain greater visibility, increased productivity, significant operational efficiencies and more reliable services for their machines. With applications based on GE Predix, Pitney Bowes will also be able to improve asset performance and drive operational efficiencies for its on-site and on-call service models. The custom-built APM solutions will be designed to help Pitney Bowes proactively identify, diagnose and resolve asset service issues even before the client is aware, reducing and eliminating downtime. The applications will also help Pitney Bowes clients drive machine, personnel, factory site and company-wide operational productivity. These services will provide business opportunity for Pitney Bowes as they offer these applications and their benefits to customers.

Pitney Bowes Launches Relay(TM) Suite to Deliver Document Security, Accuracy and Flexibility for Small and Medium Businesses

Pitney Bowes Inc. announced the launch of the Relay(TM) multi-channel communications suite, an integrated solution offering designed specifically for small and medium businesses to enhance their transactional communications (bills and statements), while providing for client data privacy and meeting growing regulatory requirements and complexity. The Relay multi-channel communications suite features the new Relay inserter series, which offers the latest barcode technology to optimize accuracy and document integrity. This innovative new line of intelligent inserting systems gives businesses assurances that its mailing will be assembled accurately. The new Relay inserters offer three privacy grades, including 2D Direct Scan; 2D Exit Scanning; and 2D File Base Processing. File Based Processing, which Pitney Bowes invented, is the industry standard for ensuring client data protection worldwide.

GE and Pitney Bowes Join Forces to Bring the Power of the Industrial Internet to the World of Commerce

GE and Pitney Bowes announced an alliance to develop customized asset performance management (APM) applications for Pitney Bowes and its Enterprise Business Solutions customers. All of the services will be built on and powered by Predix, GE’s software platform for the Industrial Internet. This will enable Pitney Bowes to analyze data generated from its own production mailing and shipping machines and those of its clients to provide client and productivity services, and job scheduling capabilities that improve business outcomes. With applications based on GE Predix, Pitney Bowes will also be able to improve asset performance and drive operational efficiencies for its on-site and on-call service models. The custom-built APM solutions will be designed to help Pitney Bowes proactively identify, diagnose and resolve asset service issues even before the client is aware, reducing and eliminating downtime. The applications will also help Pitney Bowes clients drive machine, personnel, factory site and company-wide operational productivity. These services will provide business opportunity for Pitney Bowes as they offer these applications and their benefits to customers. Pitney Bowes initially plans to offer the following applications on the GE Predix platform: Client Services provide insights into asset, application and operator performance that optimize break/fix and preventive maintenance scheduling. Productivity Services with analysis of throughput and other productivity metrics drive machine, operator, and factory productivity and efficiency. Job Scheduling and Capacity Planning provide tools for efficiently planning and scheduling work according to available assets and capacity.

 

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