Pitney Bowes Inc., a technology company, provides commerce solutions in the United States and internationally. The company operates through Global Ecommerce, Presort Services, and SendTech Solutions segments. The Global Ecommerce segment provides domestic parcel services, cross-border solutions, and digital delivery services. The Presort Services segment offers mail sortation services, which allow clients to qualify volumes of first-class mail, marketing mail, and bound and packet mail for postal work sharing discounts. The SendTech Solutions segment provides physical and digital mailing and shipping technology solutions, financing, services, supplies, and other applications for sending, tracking and receiving of letters, parcels, and flats. Pitney Bowes Inc. markets its products, solutions, and services direct and inside salesforce, global and regional partner channels, direct mailings, and Web-based offerings. The company was formerly known as Pitney Bowes Postage Meter Company. Pitney Bowes Inc. was founded in 1920 and is headquartered in Stamford, Connecticut.
IPO Year:
Exchange: NYSE
Website: pitneybowes.com
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Pitney Bowes Inc. (NYSE:PBI) shares are trading higher after the company provided an update on the first phase of its cost rationalization initiative, initially announced in late May 2024. The company has identified and implemented around $70 million in cost savings, with most of these savings realized in the second quarter. Pitney Bowes expects non-recurring charges of about $25 million related to these efforts to be recorded in the second quarter. The cost reductions are expected to be mostly reflected in the company’s pre-tax earnings for the second half of 2024 and fully realized in 2025, primarily from expense reductions in SendTech and Presort. Additionally, management has
Management has Expeditiously Implemented ~$70 Million in Cost Reductions Over the Past Month and Identified New Opportunities for Strengthening Pitney BowesThe Cost Rationalization Program's Increased Savings Target is $120 Million to $160 Million, Up from $60 Million to $100 MillionPitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced an update on the first phase of the Company's cost rationalization initiative, which was previously announced in late May 2024.The Company has identified and initiated approximately $70 million in cost savings, the majority of which has a
Initial analysis has identified an additional $60 million to $100 million in potential annualized savings across the organization, apart from the Global Ecommerce business. Pitney Bowes is working to reduce its go-forward required cash needs by approximately $200 million. In connection with these initiatives, Pitney Bowes has retained two nationally recognized consulting firms with financial and operational expertise.
U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Thursday. Shares of Nayax Ltd. (NASDAQ:NYAX) fell sharply in today's pre-market trading following weak quarterly results. Nayax posted a GAAP loss of 15 cents per share, compared to market expectations for a loss of 4 cents per share. The company's quarterly sales came in at $63.962 million, missing estimates of $72.825 million, according to data from Benzinga Pro. Nayax shares dipped 7.2% to $25.96 in pre-market trading. Here are some big stocks recording losses in today's pre-market trading session. Spire Global, Inc. (NYSE:SPIR) shares dipped 23.3% to $8.70 in pre-market tradi
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on September 6, 2024 to stockholders of record on August 22, 2024. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. F
Company Updates Full Year Guidance Following Recent Value-Enhancing Actions and Strong First-Half Performance Company to Host Investor Conference Call at 5:30 p.m. ET Pitney Bowes (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the Company's financial results for the second quarter of fiscal year 2024 and provided a progress update on the strategic initiatives announced on May 22, 2024, including the conclusion of the strategic review of the Global Ecommerce ("GEC") segment. The Company also disclosed its updated full year guidance for Fiscal Year 2024 following recent value-
Company Sells Controlling Interest in Global Ecommerce Entities to Hilco Commercial Industrial, Which Intends to Lead Orderly and Expeditious Wind-Down of Global Ecommerce Business Transaction Paves Way for Company to Eliminate ~$136 Million in Annual Losses and Fully Focus on Core, Cash-Generating Businesses Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that it has sold a controlling interest in the entities representing a substantial majority of the Global Ecommerce ("GEC") segment (the "GEC Entities") operating in the U.S. to Hilco Commercial Industrial,
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that it will report second quarter 2024 earnings results after market close on Thursday, August 8, 2024. The Company will host an investor conference call at 5:00 p.m. ET on the same day to review its results. This call and all supplemental information can be accessed on Pitney Bowes' investor relations site at https://www.investorrelations.pitneybowes.com/. The webcast link for the conference call is https://edge.media-server.com/mmc/p/bzy7jz3i. The conference call also be accessed by phone at 234-720-6979; Acc
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that Gregg Zegras has retired as President of the Company's Global Ecommerce segment, effective immediately. After joining Pitney Bowes in 2013, Mr. Zegras served as Chief Commercial Officer and held other senior roles. The Company thanks Mr. Zegras for his many years of dedication and service and wishes him the best in his future endeavors. As previously disclosed, Pitney Bowes is in the final stages of its strategic review of the Global Ecommerce segment. The purpose of the review is to identify alternatives tha
Management has Expeditiously Implemented ~$70 Million in Cost Reductions Over the Past Month and Identified New Opportunities for Strengthening Pitney Bowes The Cost Rationalization Program's Increased Savings Target is $120 Million to $160 Million, Up from $60 Million to $100 Million Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced an update on the first phase of the Company's cost rationalization initiative, which was previously announced in late May 2024. The Company has identified and initiated approximately $70 million in cost savings, the majority of w
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the opening of a new 45,000 square foot Presort Services operating center serving the St. Louis, MO market. The new highly automated facility, located at 13955 Riverport Place, Maryland Heights, MO processed nearly 100,000 pieces of mail on its inaugural day, with volumes steadily increasing throughout this summer. Currently, the site processes up to 1.2 million mail pieces a day. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240603281347/en/New Pitney Bowes Presort Services Operating
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, will host an investor conference call at 8:00 AM ET on Wednesday, May 29, to introduce the Company's newly appointed interim CEO, Lance Rosenzweig, and discuss its recently announced strategic initiatives. Participants can register for the call by visiting https://dpregister.com/sreg/10189641/fc9e9eeb70. For interested individuals unable to join, there will be a replay link available following the call on the Pitney Bowes Investor Relations website. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing c
Appoints Lance Rosenzweig, an Experienced Corporate Leader with a Background Driving Efficiencies and Simplifying Corporate Structures, as Interim CEO Company to Target Additional Annualized Cost Savings of $60M-$100M as well as Balance Sheet and Cash Management Improvements to Expedite the Paydown of High-Cost Debt Board Establishes a Value Enhancement Committee to Promptly Finalize the Strategic Review of the GEC Segment and Support the Timely Implementation of Other New Initiatives Retains Two Nationally Recognized Consulting Firms with Financial and Operational Expertise to Support New Initiatives Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on June 7, 2024 to stockholders of record on May 23, 2024. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the l
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Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on September 6, 2024 to stockholders of record on August 22, 2024. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. F
Company Updates Full Year Guidance Following Recent Value-Enhancing Actions and Strong First-Half Performance Company to Host Investor Conference Call at 5:30 p.m. ET Pitney Bowes (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the Company's financial results for the second quarter of fiscal year 2024 and provided a progress update on the strategic initiatives announced on May 22, 2024, including the conclusion of the strategic review of the Global Ecommerce ("GEC") segment. The Company also disclosed its updated full year guidance for Fiscal Year 2024 following recent value-
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that it will report second quarter 2024 earnings results after market close on Thursday, August 8, 2024. The Company will host an investor conference call at 5:00 p.m. ET on the same day to review its results. This call and all supplemental information can be accessed on Pitney Bowes' investor relations site at https://www.investorrelations.pitneybowes.com/. The webcast link for the conference call is https://edge.media-server.com/mmc/p/bzy7jz3i. The conference call also be accessed by phone at 234-720-6979; Acc
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, will host an investor conference call at 8:00 AM ET on Wednesday, May 29, to introduce the Company's newly appointed interim CEO, Lance Rosenzweig, and discuss its recently announced strategic initiatives. Participants can register for the call by visiting https://dpregister.com/sreg/10189641/fc9e9eeb70. For interested individuals unable to join, there will be a replay link available following the call on the Pitney Bowes Investor Relations website. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing c
Appoints Lance Rosenzweig, an Experienced Corporate Leader with a Background Driving Efficiencies and Simplifying Corporate Structures, as Interim CEO Company to Target Additional Annualized Cost Savings of $60M-$100M as well as Balance Sheet and Cash Management Improvements to Expedite the Paydown of High-Cost Debt Board Establishes a Value Enhancement Committee to Promptly Finalize the Strategic Review of the GEC Segment and Support the Timely Implementation of Other New Initiatives Retains Two Nationally Recognized Consulting Firms with Financial and Operational Expertise to Support New Initiatives Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on June 7, 2024 to stockholders of record on May 23, 2024. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the l
Pitney Bowes (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics, and financial services, today announced its financial results for the first quarter 2024. Jason Dies, Interim Chief Executive Officer, commented: "We came out of the gate strong with first quarter results that reflect enterprise-wide changes in our operating intensity and efficiency efforts. Net income improved $5 million over prior year. Adjusted EBIT grew by more than $23 million on relatively flat revenue. This includes solid segment-level performance and systematic cost reductions, resulting in an 8% decline in operating expenses. At the segment lev
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on March 14, 2024 to stockholders of record on February 9, 2024. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For
Pitney Bowes (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics, and financial services, today announced its financial results for the fourth quarter and full year of 2023. Jason Dies, Interim Chief Executive Officer, commented: "Pitney Bowes is beginning 2024 with positive momentum and a strong set of go-forward priorities following a productive fourth quarter. At the enterprise level, we are on track with our cost reduction and restructuring efforts after increasing targets late last year. Our SendTech and Presort segments again delivered solid profit increases and margin expansion in the fourth quarter, reflecting c
Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on December 6, 2023 to stockholders of record on November 15, 2023. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels.
Maxim Group upgraded Pitney Bowes from Hold to Buy
Sidoti upgraded Pitney Bowes from Neutral to Buy and set a new price target of $10.00
Sidoti downgraded Pitney Bowes from Buy to Neutral
Maxim Group resumed coverage of Pitney Bowes with a rating of Hold
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that Gregg Zegras has retired as President of the Company's Global Ecommerce segment, effective immediately. After joining Pitney Bowes in 2013, Mr. Zegras served as Chief Commercial Officer and held other senior roles. The Company thanks Mr. Zegras for his many years of dedication and service and wishes him the best in his future endeavors. As previously disclosed, Pitney Bowes is in the final stages of its strategic review of the Global Ecommerce segment. The purpose of the review is to identify alternatives tha
Sees Opportunity to Significantly Reduce Leverage Ratio, Achieve ~3x EV / EBITDA Multiple and Nearly Double Pitney Bowes' Share Price by Divesting the Company's Money-Losing GEC Business Believes the Board Must Explore All Paths to Maximizing Shareholder Value, Including by Running a Comprehensive Review of Strategic Alternatives Underscores the Need for Permanent Leaders Following Unacceptable Turnover in the C-Suite and Boardroom Lakeview Investment Group & Trading Company, LLC, which beneficially owns approximately 2.55% of the outstanding common shares of Pitney Bowes, Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), today issued the below open letter to the Company's Board of D
Allurion Technologies, Inc. (NYSE:ALUR), a company dedicated to ending obesity, today announced the appointment of its newest board member and Audit Committee Chair, Milena Alberti-Perez, effective as of March 11, 2024. "Milena joins the Allurion board during an exciting time in the company's history and is a proven and dynamic leader, with deep experience as an operator and board member," said Dr. Shantanu Gaur, Allurion Founder and CEO. "Her perspective and guidance will be invaluable as Allurion furthers its mission to treat the one billion people around the world with obesity." Ms. Alberti-Perez previously served as Chief Financial Officer at Getty Images (NYSE:GETY) and CFO at Peng
Chair Mary J. Guilfoile, Who Has Served With Distinction, to Step Down Following the 2024 Annual Meeting William S. Simon and Jill Sutton, Who Collectively Possess Experience in Capital Allocation, Corporate Governance and Transformations, Have Been Added to the Board Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a global shipping and mailing company that provides technology, logistics and financial services, today announced that Mary J. Guilfoile will step down as Chair and retire from the Board of Directors (the "Board") following the 2024 Annual Meeting of Stockholders (the "Annual Meeting"). The Board will elect a new Chair following Ms. Guilfoile's retirement. Add
Former Goldman Sachs executive sees big opportunity to serve more small businesses Funding Circle (LSE:FCH), the leading online lending platform for small businesses is pleased to announce that Kaustubh "Kos" Joshi has joined the company as the Head of Embedded Finance & Partnerships for the U.S. business where he will be responsible for executing on the company's strategy to attract more small businesses through its embedded platform and strategic partnerships. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231106885931/en/Kaustubh "Kos" Joshi has been appointed to Head of Embedded Finance & Partnerships at Funding Circle U.S
Jason Dies, Who Has Successfully Overseen SendTech, Presort and Other Critical Business Functions Within the Company, Appointed Interim CEO Marc Lautenbach Has Stepped Down as President, CEO and Board Member The Board Has Formed a Long-Term Planning Committee to Oversee a Search for a Permanent Successor and Support Other Value-Enhancing Initiatives Pitney Bowes Inc. (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that the independent members of its Board of Directors (the "Board") have unanimously approved the following actions: This press release features multimedia. View the full release here: https://w
Janus International Group, Inc. (NYSE:JBI) ("Janus" or the "Company"), a leading provider of cutting-edge access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced the appointment of Roger Fradin to the position of Vice Chairman of the Board of Directors, effective July 5, 2023. Mr. Fradin, who has served as a director of Janus since 2021, has over 40 years of experience acquiring, building and leading a diverse set of industrial technology businesses. Mr. Fradin's previous roles include President and Chief Executive Officer of the Security and Fire Solutions segment of Pittway Corporation, President and Ch
Believes Board's Refresh Fails to Address the Ineffective Leadership of CEO Marc Lautenbach, who has Overseen Dramatic Balance Sheet Deterioration and -50% TSR Despite Receiving ~$67 Million in Compensation Since 2012 Concerned New Chair Robert Dutkowsky Holds Four Public Company Director Roles, Maintains Two Public Company Chairman Roles, Overlapped at IBM with Mr. Lautenbach and Served on Committees That Perpetuated Failings at Pitney Bowes Modifies Slate to Include Five Nominees with Experience in Capital Allocation, Corporate Governance, Capital Raising, Logistics, the Postage and Shipping Sectors, and Turnarounds Provides a Framework for Improving Cashflow by Curtailing Global Ec
Darrell Thomas and Steve Brill Appointed to Board Directors Michael I. Roth, S. Douglas Hutcheson, and David L. Shedlarz to Not Stand for Re-election at 2023 Annual Meeting Board of Directors Supports the Election of Hestia Capital Nominee Katie May as Director Robert M. Dutkowsky to Become Non-Executive Chairman Company Issues Letter to Stockholders Pitney Bowes (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that it has filed its preliminary proxy materials with the Securities and Exchange Commission ("SEC") in connection with its upcoming 2023 Annual Meeting of Stockholders (the "2023 Annual Meeting"). Th
Confounded by the Board's Rejection of a Private Proposal to Add Three Stockholder-Designated Directors and Establish a Strategic Planning & Capital Allocation Committee Disappointed by the Board's Seemingly Bad Faith and Unethical Tactics in Response to Private Attempts to Collaborate States Intent to Nominate a Majority Slate of Director Candidates that Includes a Proposed Interim CEO with a Record of Superior Value Creation in Pitney Bowes' Industry Hestia Capital Management, LLC (collectively with its affiliates, "Hestia" or "we"), which is the third largest stockholder of Pitney Bowes, Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company") with a beneficial ownership position of approxi