Pitney Bowes Discloses Financial Results for Third Quarter 2025 and Issues CEO Letter
Delivered Earnings Growth and Sustained Meaningful Capital Returns to Shareholders
Increases Share Repurchase Authorization to $500M Following More Than $280M in YTD Share Buybacks, While Also Increasing Dividend for Fourth Straight Quarter
Makes Significant Progress on First Phase of Strategic Review, Including Identifying New Operational Efficiencies and Identifies $50 Million to $60 Million in Additional Cost Savings
Releases CEO Letter Detailing New Initiatives, Quarterly Performance and Go-Forward Outlook
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides digital shipping solutions, mailing innovation, and financial services to clients around the world, today disclosed its financial results for the third quarter of 2025. In conjunction with this announcement, Pitney Bowes' CEO, Kurt Wolf, has released a letter to shareholders to provide his commentary on the quarter and updates on strategic initiatives.
Q3 2025 Financial Highlights
- Revenue was $460 million, down 8% year over year
- GAAP EPS was $0.30, an improvement of $1.06 year over year
- Adjusted EPS was $0.31, an improvement of $0.10 year over year
- GAAP net income of $52 million, an improvement of $190 million year over year
- Adjusted EBIT was $107 million, an improvement of $5 million year over year
- GAAP cash from operating activities was $67 million, an improvement of $1 million year over year
- Free Cash Flow was $60 million, and excluded $9 million of restructuring payments
Earnings per share results are summarized in the table below:
|
Third Quarter |
|
|
2025 |
2024 |
GAAP EPS |
$0.30 |
($0.75) |
Loss from discontinued operations, net of tax |
- |
$1.42 |
Restructuring charges |
$0.01 |
$0.13 |
Foreign currency loss / (gain) on intercompany loans |
($0.02) |
$0.08 |
Transaction and strategic review costs |
$0.02 |
$0.01 |
Loss on debt redemption/refinancing |
- |
$0.01 |
(Benefit) / costs in connection with Ecommerce exit |
($0.01) |
$0.16 |
Asset impairment charge |
- |
$0.05 |
Tax benefit from affiliate reorganization |
- |
($0.89) |
Adjusted EPS |
$0.31 |
$0.21 |
Note: Amounts may not foot due to rounding. |
||
Q3 2025 CEO Commentary & Letter
To read and/or download a copy of this quarter's CEO letter please click here.
Q3 2025 Business Segment Reporting
SendTech Solutions
SendTech Solutions offers physical and digital shipping and mailing technology solutions, financing, services, supplies and other applications for small and medium businesses, retail, enterprise, and government clients around the world to help simplify and save on the sending, tracking and receiving of letters, parcels and flats.
|
Third Quarter |
||
($ millions) |
2025 |
2024 |
% Change
|
Revenue |
$311 |
$331 |
(6%) |
Adj. Segment EBITDA |
$112 |
$112 |
0% |
Adj. Segment EBIT |
$101 |
$102 |
(1%) |
SendTech revenue declined due to the impact of prior year product migration and a decrease in the mailing install base.
Adjusted Segment EBITDA was flat year-over-year. The decline in Adjusted Segment EBIT was driven by lower revenue and was partially offset by cost reduction initiatives.
Presort Services
Presort Services provides sortation services that enable clients to qualify for USPS workshare discounts in First Class Mail, Marketing Mail, Marketing Mail Flats and Bound Printed Matter.
|
Third Quarter |
||
($ millions) |
2025 |
2024 |
% Change
|
Revenue |
$149 |
$166 |
(11%) |
Adj. Segment EBITDA |
$42 |
$55 |
(24%) |
Adj. Segment EBIT |
$33 |
$46 |
(29%) |
Lower volumes due to client losses tied to a prior rigid pricing strategy under former management and broader market decline drove the decrease in revenue.
Adjusted Segment EBITDA and EBIT declined due to the decrease in revenue and reduced operating leverage from lower volumes.
2025 Full-Year Outlook
Pitney Bowes now expects to achieve near the low end of previously disclosed guidance range for Revenue, Adjusted EBIT and Free Cash Flow. The Company also now expects to achieve near the midpoint of its previously disclosed guidance range for Adjusted EPS. For reference, the Company's previously disclosed guidance ranges are:
$ millions, except EPS |
Low |
High |
Revenue |
$1,900 |
$1,950 |
Adjusted EBIT |
$450 |
$465 |
Adjusted EPS |
$1.20 |
$1.40 |
Free Cash Flow |
$330 |
$370 |
Q3 2025 Earnings Conference Call
Management will discuss the Company's results in a webcast today at 5:00 p.m. ET. Instructions for accessing the earnings results call are available on the Investor Relations page of the Company's website at www.pitneybowes.com.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a technology-driven company that provides digital shipping solutions, mailing innovation, and financial services to clients around the world – including more than 90 percent of the Fortune 500. Small businesses to large enterprises, and government entities rely on Pitney Bowes to reduce the complexity of sending mail and parcels. For the latest news, corporate announcements, and financial results, visit www.pitneybowes.com/us/newsroom. For additional information, visit Pitney Bowes at www.pitneybowes.com.
Adjusted Segment EBIT
Adjusted Segment EBIT is the primary measure of profitability and operational performance at the segment level. Adjusted Segment EBIT includes segment revenues and related costs and expenses attributable to the segment, but excludes interest, taxes, general corporate expenses, restructuring charges, and other items not allocated to a business segment. We also report Adjusted Segment EBITDA as an additional useful measure of segment profitability and operational performance, which is calculated as Adjusted Segment EBIT plus depreciation and amortization expense of the segment.
Use of Non-GAAP Measures
Pitney Bowes' financial results are reported in accordance with generally accepted accounting principles (GAAP). Pitney Bowes also discloses certain non-GAAP measures, such as revenue growth on a constant currency basis, adjusted earnings before interest and taxes (Adjusted EBIT), adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA), adjusted earnings per share (Adjusted EPS) and free cash flow.
Revenue growth on a constant currency basis excludes the impact of changes in currency exchange rates from the prior period under comparison. Constant currency change is calculated by converting the current period non-U.S. dollar denominated revenue using the prior year's exchange rate. We believe that excluding the impacts of currency exchange rates provides a better understanding of the underlying revenue performance.
Adjusted EBIT, Adjusted EBITDA and Adjusted EPS exclude the impact of restructuring charges, foreign currency gains and losses on intercompany loans, certain costs associated with the Ecommerce Restructuring, gains and losses on debt redemptions and other unusual items that we believe are not indicative to our core business operations.
Free cash flow adjusts cash flow from operations calculated in accordance with GAAP for capital expenditures, restructuring payments and other special items. Management believes free cash flow provides better insight into the amount of cash available for other discretionary uses.
Reconciliations of non-GAAP measures to comparable GAAP measures can be found in the attached financial schedules and at the Company's web site at: https://www.investorrelations.pitneybowes.com/. We do not provide a reconciliation of forward‑looking non‑GAAP measures to the most comparable GAAP measures because items necessary for such reconciliation are not available on a reasonable basis without unreasonable efforts.
Forward-Looking Statements
This document contains "forward-looking statements" about the Company's expected or potential future business and financial performance, including, but not limited to, statements about future revenue and profitability, earnings guidance, future events or conditions, capital allocation strategy, expected cost savings and efficiency improvements, and strategic initiatives and priorities. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected. Factors which could cause future performance to differ materially from expectations include, without limitation, 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; declines in physical mail volumes or shipping volumes; the loss of customers, including some of our larger clients; changes in trade policies, tariffs and regulations; global supply chain issues adversely impacting our third party suppliers' ability to provide us products and services; periods of difficult economic conditions, the impacts of inflation and rising prices, higher interest rates and a slow-down in economic activity, including a global recession, or a prolonged U.S. government shutdown, to the Company and our clients; changes in foreign currency exchange rates; changes in labor and transportation availability and costs; inability to successfully execute on our strategic initiatives; and other factors as more fully outlined in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and other reports filed with the Securities and Exchange Commission during 2025. Pitney Bowes assumes no obligation to update any forward-looking statements contained in this document as a result of new information, events, or developments, except as required by law.
| Pitney Bowes Inc. | |||||||||||||||
| Consolidated Statements of Operations | |||||||||||||||
| (Unaudited; in thousands, except per share amounts) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
|
2025 |
|
|
2024 |
|
|
2025 |
|
2024 |
|
|||||
| Revenue: | |||||||||||||||
| Services | $ |
289,476 |
|
$ |
312,747 |
|
$ |
898,331 |
$ |
932,690 |
|
||||
| Products |
|
89,712 |
|
|
101,846 |
|
|
273,782 |
|
324,232 |
|
||||
| Financing and other |
|
80,487 |
|
|
84,870 |
|
|
242,891 |
|
253,555 |
|
||||
| Total revenue |
|
459,675 |
|
|
499,463 |
|
|
1,415,004 |
|
1,510,477 |
|
||||
| Costs and expenses: | |||||||||||||||
| Cost of services |
|
146,394 |
|
|
158,690 |
|
|
446,507 |
|
481,367 |
|
||||
| Cost of products |
|
54,294 |
|
|
59,126 |
|
|
159,700 |
|
182,552 |
|
||||
| Cost of financing and other |
|
14,708 |
|
|
20,174 |
|
|
47,871 |
|
61,859 |
|
||||
| Selling, general and administrative |
|
144,154 |
|
|
189,989 |
|
|
480,611 |
|
569,625 |
|
||||
| Research and development |
|
3,409 |
|
|
7,580 |
|
|
11,773 |
|
22,465 |
|
||||
| Restructuring charges |
|
1,836 |
|
|
30,694 |
|
|
17,042 |
|
64,859 |
|
||||
| Interest expense, net |
|
26,072 |
|
|
27,764 |
|
|
75,279 |
|
83,323 |
|
||||
| Other components of net pension and postretirement cost |
|
1,645 |
|
|
(961 |
) |
|
5,446 |
|
(1,730 |
) |
||||
| Other (income) expense |
|
(981 |
) |
|
50,287 |
|
|
16,628 |
|
50,287 |
|
||||
| Total costs and expenses |
|
391,531 |
|
|
543,343 |
|
|
1,260,857 |
|
1,514,607 |
|
||||
| Income (loss) from continuing operations before taxes |
|
68,144 |
|
|
(43,880 |
) |
|
154,147 |
|
(4,130 |
) |
||||
| Provision (benefit) for income taxes |
|
16,181 |
|
|
(166,466 |
) |
|
36,787 |
|
(148,695 |
) |
||||
| Income from continuing operations |
|
51,963 |
|
|
122,586 |
|
|
117,360 |
|
144,565 |
|
||||
| Loss from discontinued operations, net of tax |
|
- |
|
|
(261,058 |
) |
|
- |
|
(310,789 |
) |
||||
| Net income (loss) | $ |
51,963 |
|
$ |
(138,472 |
) |
$ |
117,360 |
$ |
(166,224 |
) |
||||
| Basic earnings (loss) per share: | |||||||||||||||
| Continuing operations | $ |
0.31 |
|
$ |
0.68 |
|
$ |
0.66 |
$ |
0.81 |
|
||||
| Discontinued operations |
|
- |
|
|
(1.45 |
) |
|
- |
|
(1.74 |
) |
||||
| Net income (loss) | $ |
0.31 |
|
$ |
(0.77 |
) |
$ |
0.66 |
$ |
(0.93 |
) |
||||
| Diluted earnings (loss) per share: | |||||||||||||||
| Continuing operations | $ |
0.30 |
|
$ |
0.67 |
|
$ |
0.66 |
$ |
0.79 |
|
||||
| Discontinued operations |
|
- |
|
|
(1.42 |
) |
|
- |
|
(1.70 |
) |
||||
| Net income (loss) | $ |
0.30 |
|
$ |
(0.75 |
) |
$ |
0.66 |
$ |
(0.91 |
) |
||||
| Weighted-average shares used in diluted earnings per share |
|
170,370 |
|
|
183,838 |
|
|
178,375 |
|
182,445 |
|
||||
| The sum of the earnings per share amounts may not equal the totals due to rounding. | |||||||||||||||
| Pitney Bowes Inc. | |||||||||
| Consolidated Balance Sheets | |||||||||
| (Unaudited; in thousands) | |||||||||
| Assets | September 30, 2025 |
December 31, 2024 |
|||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ |
320,994 |
|
$ |
469,726 |
|
|||
| Short-term investments |
|
14,978 |
|
|
16,374 |
|
|||
| Accounts and other receivables, net |
|
161,696 |
|
|
159,951 |
|
|||
| Short-term finance receivables, net |
|
497,573 |
|
|
535,608 |
|
|||
| Inventories |
|
75,699 |
|
|
59,836 |
|
|||
| Current income taxes |
|
4,313 |
|
|
10,429 |
|
|||
| Other current assets and prepayments |
|
74,290 |
|
|
66,030 |
|
|||
| Total current assets |
|
1,149,543 |
|
|
1,317,954 |
|
|||
| Property, plant and equipment, net |
|
184,043 |
|
|
218,657 |
|
|||
| Rental property and equipment, net |
|
22,605 |
|
|
24,587 |
|
|||
| Long-term finance receivables, net |
|
624,496 |
|
|
610,316 |
|
|||
| Goodwill |
|
746,525 |
|
|
721,003 |
|
|||
| Intangible assets, net |
|
16,019 |
|
|
15,780 |
|
|||
| Operating lease assets |
|
107,457 |
|
|
113,357 |
|
|||
| Noncurrent income taxes |
|
101,738 |
|
|
99,773 |
|
|||
| Other assets |
|
302,785 |
|
|
276,089 |
|
|||
| Total assets | $ |
3,255,211 |
|
$ |
3,397,516 |
|
|||
| Liabilities and stockholders' deficit | |||||||||
| Current liabilities: | |||||||||
| Accounts payable and accrued liabilities | $ |
698,686 |
|
$ |
873,626 |
|
|||
| Customer deposits at Pitney Bowes Bank |
|
602,189 |
|
|
645,860 |
|
|||
| Current operating lease liabilities |
|
27,030 |
|
|
26,912 |
|
|||
| Current portion of long-term debt |
|
16,150 |
|
|
53,250 |
|
|||
| Advance billings |
|
72,766 |
|
|
70,131 |
|
|||
| Current income taxes |
|
4,909 |
|
|
2,948 |
|
|||
| Total current liabilities |
|
1,421,730 |
|
|
1,672,727 |
|
|||
| Long-term debt |
|
2,087,966 |
|
|
1,866,458 |
|
|||
| Deferred taxes on income |
|
70,165 |
|
|
49,187 |
|
|||
| Tax uncertainties and other income tax liabilities |
|
724 |
|
|
13,770 |
|
|||
| Noncurrent operating lease liabilities |
|
94,260 |
|
|
100,804 |
|
|||
| Noncurrent customer deposits at Pitney Bowes Bank |
|
46,000 |
|
|
57,977 |
|
|||
| Other noncurrent liabilities |
|
195,904 |
|
|
215,026 |
|
|||
| Total liabilities |
|
3,916,749 |
|
|
3,975,949 |
|
|||
| Stockholders' deficit: | |||||||||
| Common stock |
|
270,338 |
|
|
270,338 |
|
|||
| Retained earnings |
|
2,657,001 |
|
|
2,671,868 |
|
|||
| Accumulated other comprehensive loss |
|
(765,354 |
) |
|
(839,171 |
) |
|||
| Treasury stock, at cost |
|
(2,823,523 |
) |
|
(2,681,468 |
) |
|||
| Total stockholders' deficit |
|
(661,538 |
) |
|
(578,433 |
) |
|||
| Total liabilities and stockholders' deficit | $ |
3,255,211 |
|
$ |
3,397,516 |
|
|||
| Pitney Bowes Inc. | ||||||||||||||||||||
| Business Segment Revenue | ||||||||||||||||||||
| (Unaudited; in thousands) | ||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
2025 |
2024 |
% Change | 2025 |
2024 |
% Change | |||||||||||||||
| Sending Technology Solutions | $ |
310,782 |
|
$ |
331,376 |
(6 |
%) |
$ |
938,104 |
|
$ |
1,017,470 |
(8 |
%) |
||||||
| Presort Services |
|
148,893 |
|
|
166,367 |
(11 |
%) |
|
476,900 |
|
|
483,032 |
(1 |
%) |
||||||
| Total reportable segments |
|
459,675 |
|
|
497,743 |
(8 |
%) |
|
1,415,004 |
|
|
1,500,502 |
(6 |
%) |
||||||
| Other |
|
- |
|
|
1,720 |
(100 |
%) |
|
- |
|
|
9,975 |
(100 |
%) |
||||||
| Total revenue, as reported |
|
459,675 |
|
|
499,463 |
(8 |
%) |
|
1,415,004 |
|
|
1,510,477 |
(6 |
%) |
||||||
| Impact of currency on revenue |
|
(2,101 |
) |
|
(2,652 |
) |
||||||||||||||
| Total revenue, constant currency | $ |
457,574 |
|
$ |
499,463 |
(8 |
%) |
$ |
1,412,352 |
|
$ |
1,510,477 |
(6 |
%) |
||||||
| Pitney Bowes Inc. | ||||||||||||||||||||||
| Adjusted Segment EBIT & EBITDA | ||||||||||||||||||||||
| (Unaudited; in thousands) | ||||||||||||||||||||||
| Three Months Ended September 30, | ||||||||||||||||||||||
2025 |
2024 |
% change |
||||||||||||||||||||
| Adjusted Segment EBIT (1) |
D&A | Adjusted Segment EBITDA |
Adjusted Segment EBIT (1) |
D&A | Adjusted Segment EBITDA |
Adjusted Segment EBIT |
Adjusted Segment EBITDA |
|||||||||||||||
| Sending Technology Solutions | $ |
101,059 |
$ |
11,190 |
$ |
112,249 |
|
$ |
101,980 |
$ |
10,294 |
$ |
112,274 |
|
(1 |
%) |
(0 |
%) |
||||
| Presort Services |
|
32,626 |
|
9,242 |
|
41,868 |
|
|
46,179 |
|
9,008 |
|
55,187 |
|
(29 |
%) |
(24 |
%) |
||||
| Total reportable segments | $ |
133,685 |
$ |
20,432 |
|
154,117 |
|
$ |
148,159 |
$ |
19,302 |
|
167,461 |
|
(10 |
%) |
(8 |
%) |
||||
| Reconciliation of Adjusted Segment EBITDA to income or loss from continuing operations before taxes: | ||||||||||||||||||||||
| Other operations (2) |
|
- |
|
|
(7,312 |
) |
||||||||||||||||
| Depreciation and amortization - reportable segments |
|
(20,432 |
) |
|
(19,302 |
) |
||||||||||||||||
| Corporate expenses |
|
(26,350 |
) |
|
(38,062 |
) |
||||||||||||||||
| Restructuring charges |
|
(1,836 |
) |
|
(30,694 |
) |
||||||||||||||||
| Interest expense, net |
|
(37,287 |
) |
|
(43,859 |
) |
||||||||||||||||
| Loss on debt redemption/refinancing |
|
(82 |
) |
|
(2,142 |
) |
||||||||||||||||
| Foreign currency gain (loss) on intercompany loans |
|
3,390 |
|
|
(18,831 |
) |
||||||||||||||||
| Transaction and Strategic review costs |
|
(4,439 |
) |
|
(2,994 |
) |
||||||||||||||||
| Asset impairment charge |
|
- |
|
|
(10,000 |
) |
||||||||||||||||
| Benefit (charge) in connection with Ecommerce Restructuring |
|
1,063 |
|
|
(38,145 |
) |
||||||||||||||||
| Income (loss) from continuing operations before taxes | $ |
68,144 |
|
$ |
(43,880 |
) |
||||||||||||||||
| Nine Months Ended September 30, | ||||||||||||||||||||||
2025 |
2024 |
% change |
||||||||||||||||||||
| Adjusted Segment EBIT (1) |
D&A | Adjusted Segment EBITDA |
Adjusted Segment EBIT (1) |
D&A | Adjusted Segment EBITDA |
Adjusted Segment EBIT |
Adjusted Segment EBITDA |
|||||||||||||||
| Sending Technology Solutions | $ |
299,341 |
$ |
34,602 |
$ |
333,943 |
|
$ |
293,917 |
$ |
33,721 |
$ |
327,638 |
|
2 |
% |
2 |
% |
||||
| Presort Services |
|
123,345 |
|
27,649 |
|
150,994 |
|
|
113,556 |
|
26,722 |
|
140,278 |
|
9 |
% |
8 |
% |
||||
| Total reportable segments | $ |
422,686 |
$ |
62,251 |
|
484,937 |
|
$ |
407,473 |
$ |
60,443 |
|
467,916 |
|
4 |
% |
4 |
% |
||||
| Reconciliation of Adjusted Segment EBITDA to income or loss from continuing operations before taxes: | ||||||||||||||||||||||
| Other operations (2) |
|
- |
|
|
(12,142 |
) |
||||||||||||||||
| Depreciation and amortization - reportable segments |
|
(62,251 |
) |
|
(60,443 |
) |
||||||||||||||||
| Corporate expenses |
|
(93,369 |
) |
|
(124,557 |
) |
||||||||||||||||
| Restructuring charges |
|
(17,042 |
) |
|
(64,859 |
) |
||||||||||||||||
| Interest expense, net |
|
(112,671 |
) |
|
(131,986 |
) |
||||||||||||||||
| Loss on debt redemption/refinancing |
|
(24,446 |
) |
|
(2,142 |
) |
||||||||||||||||
| Foreign currency loss on intercompany loans |
|
(21,234 |
) |
|
(13,481 |
) |
||||||||||||||||
| Transaction and Strategic review costs |
|
(7,595 |
) |
|
(14,291 |
) |
||||||||||||||||
| Asset impairment charge |
|
- |
|
|
(10,000 |
) |
||||||||||||||||
| Benefit (charge) in connection with Ecommerce Restructuring |
|
7,818 |
|
|
(38,145 |
) |
||||||||||||||||
| Income (loss) from continuing operations before taxes | $ |
154,147 |
|
$ |
(4,130 |
) |
||||||||||||||||
(1) |
Adjusted segment EBIT excludes interest, taxes, general corporate expenses, restructuring charges, foreign currency gains and losses from the revaluation of intercompany loans and other items that are not allocated to a business segment. |
|||||||||||||||||||||
(2) |
Other operations includes the revenue and related expenses of our former Global Ecommerce business that did not qualify for discontinued operations treatment. |
|||||||||||||||||||||
| Pitney Bowes Inc. | ||||||||||||||||
| Reconciliation of Reported Consolidated Results to Adjusted Results | ||||||||||||||||
| (Unaudited; in thousands, except per share amounts) | ||||||||||||||||
| Three Months Ended September 30, |
Nine Months Ended September 30, |
|||||||||||||||
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|||||
| Reconciliation of reported net income (loss) to adjusted EBIT and adjusted EBITDA | ||||||||||||||||
| Net income (loss) | $ |
51,963 |
|
$ |
(138,472 |
) |
$ |
117,360 |
|
$ |
(166,224 |
) |
||||
| Loss from discontinued operations, net of tax |
|
- |
|
|
261,058 |
|
|
- |
|
|
310,789 |
|
||||
| Provision for income taxes |
|
16,181 |
|
|
(166,466 |
) |
|
36,787 |
|
|
(148,695 |
) |
||||
| Income (loss) from continuing operations before taxes |
|
68,144 |
|
|
(43,880 |
) |
|
154,147 |
|
|
(4,130 |
) |
||||
| Restructuring charges |
|
1,836 |
|
|
30,694 |
|
|
17,042 |
|
|
64,859 |
|
||||
| Foreign currency (gain) loss on intercompany loans |
|
(3,390 |
) |
|
18,831 |
|
|
21,234 |
|
|
13,481 |
|
||||
| Transaction and Strategic review costs |
|
4,439 |
|
|
2,994 |
|
|
7,595 |
|
|
14,291 |
|
||||
| Asset impairment charge |
|
- |
|
|
10,000 |
|
|
- |
|
|
10,000 |
|
||||
| (Benefit) charge in connection with Ecommerce Restructuring |
|
(1,063 |
) |
|
38,145 |
|
|
(7,818 |
) |
|
38,145 |
|
||||
| Loss on debt redemption/refinancing |
|
82 |
|
|
2,142 |
|
|
24,446 |
|
|
2,142 |
|
||||
| Adjusted net income before tax |
|
70,048 |
|
|
58,926 |
|
|
216,646 |
|
|
138,788 |
|
||||
| Interest, net |
|
37,287 |
|
|
43,859 |
|
|
112,671 |
|
|
131,986 |
|
||||
| Adjusted EBIT |
|
107,335 |
|
|
102,785 |
|
|
329,317 |
|
|
270,774 |
|
||||
| Depreciation and amortization |
|
27,418 |
|
|
28,564 |
|
|
84,503 |
|
|
85,897 |
|
||||
| Adjusted EBITDA | $ |
134,753 |
|
$ |
131,349 |
|
$ |
413,820 |
|
$ |
356,671 |
|
||||
| Reconciliation of reported diluted earnings (loss) per share to adjusted diluted earnings per share | ||||||||||||||||
| Diluted earnings (loss) per share | $ |
0.30 |
|
$ |
(0.75 |
) |
$ |
0.66 |
|
# | $ |
(0.91 |
) |
|||
| Loss from discontinued operations, net of tax |
|
- |
|
|
1.42 |
|
|
- |
|
|
1.70 |
|
||||
| Restructuring charges |
|
0.01 |
|
|
0.13 |
|
|
0.07 |
|
|
0.27 |
|
||||
| Foreign currency (gain) loss on intercompany loans |
|
(0.02 |
) |
|
0.08 |
|
|
0.09 |
|
|
0.06 |
|
||||
| Transaction and Strategic review costs |
|
0.02 |
|
|
0.01 |
|
|
0.03 |
|
|
0.06 |
|
||||
| Loss on debt redemption/refinancing |
|
- |
|
|
0.01 |
|
|
0.10 |
|
|
0.01 |
|
||||
| (Benefit) charge in connection with Ecommerce Restructuring |
|
(0.01 |
) |
|
0.16 |
|
|
(0.03 |
) |
|
0.16 |
|
||||
| Asset impairment charge |
|
- |
|
|
0.05 |
|
|
0.06 |
|
|||||||
| Tax benefit from affiliate reorganization |
|
- |
|
|
(0.89 |
) |
|
(0.90 |
) |
|||||||
| Adjusted diluted earnings per share | $ |
0.31 |
|
$ |
0.21 |
|
$ |
0.92 |
|
$ |
0.50 |
|
||||
| The sum of the earnings per share amounts may not equal the totals due to rounding. | ||||||||||||||||
| Reconciliation of reported net cash from operating activities to free cash flow | ||||||||||||||||
| Net cash from operating activities - continuing operations | $ |
66,848 |
|
$ |
65,721 |
|
$ |
161,557 |
|
$ |
144,616 |
|
||||
| Capital expenditures |
|
(15,797 |
) |
|
(19,438 |
) |
|
(46,027 |
) |
|
(50,221 |
) |
||||
| Restructuring payments |
|
9,325 |
|
|
27,222 |
|
|
30,843 |
|
|
53,919 |
|
||||
| Free cash flow | $ |
60,376 |
|
$ |
73,505 |
|
$ |
146,373 |
|
$ |
148,314 |
|
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20251029080852/en/
For Investors:
Alex Brown
[email protected]
For Media:
Longacre Square Partners
Ashley Areopagita
[email protected]