Pitney Bowes Expects To Incur Charges Of ~$25M From Workforce Reduction Plan
$PBI
Office Equipment/Supplies/Services
Miscellaneous
Pitney Bowes Expects To Incur Charges Of ~$25M From Workforce Reduction Plan
Save time and jump to the most important pieces.
Pitney Bowes (NYSE:PBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world—including more than 90 percent of the Fortune 500, 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, 2024 to stockholders of record on November 18, 2024. About Pitney Bowes Pitney Bowes (NYSE:PBI) is a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world—including more than 90 percent of the Fortune 500. Small businesses to l
Company Updates Full Year Guidance Following Continued Strong Business Performance and Accelerated Execution of Cost Initiatives Pitney Bowes Inc. (NYSE:PBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced the Company's financial results for the third quarter of fiscal year 2024 and provided a progress update on the strategic initiatives announced on May 22, 2024. The Company also updated its full year guidance for Fiscal Year 2024 following continued strong business performance and accelerated execution of cost initiatives. Third Quarter Financial Highlights Revenue was $499 mill
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it will report third quarter 2024 earnings results after market close on Thursday, November 7, 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/2tc3zvmn/. The conference call also
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has repaid $100 million of the $275 million in senior secured notes ("2028 Notes") issued by Oaktree Capital Management, L.P. ("Oaktree"), the balance of which was $272 million as of September 30, 2024. The partial payment of the 2028 Notes is part of the Company's previously announced strategic initiative to deleverage its balance sheet. The repayment was funded by cash on hand. Lance Rosenzweig, Pitney Bowes' Chief Executive Officer, commented: "Our accelerated pr
Resolution Will Pave the Way for Completion of GEC Exit by End of 2024 Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has reached an agreement in principle (the "Agreement in Principle") with DRF Logistics LLC ("DRF") (f/k/a the Global Ecommerce segment) to resolve ongoing disputes with the official committee of unsecured creditors (the "Committee"). The Committee is tasked with representing the interests of all creditors asserting unsecured claims against DRF and its affiliated debtor. Lance Rosenzweig, Pitne
Expects Q4 2024 Revenue of $505 Million to $515 Million Pitney Bowes Inc. (NYSE:PBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today provided supplemental detail around guidance for the fourth quarter of 2024, long-term revenue considerations, and debt reduction and refinancing efforts. Q4 2024 Revenue Outlook Detail The Company announced updated guidance on November 7, 2024, including a full-year revenue decline in a low-single-digit range and a full-year Adjusted EBIT increase to $355 million to $360 million. For additional clarity, the Company's revenue outlook for the fourth quarter o
3 - PITNEY BOWES INC /DE/ (0000078814) (Issuer)
3 - PITNEY BOWES INC /DE/ (0000078814) (Issuer)
3 - PITNEY BOWES INC /DE/ (0000078814) (Issuer)
10-Q - PITNEY BOWES INC /DE/ (0000078814) (Filer)
8-K - PITNEY BOWES INC /DE/ (0000078814) (Filer)
8-K - PITNEY BOWES INC /DE/ (0000078814) (Filer)
SC 13D/A - PITNEY BOWES INC /DE/ (0000078814) (Subject)
SC 13G/A - PITNEY BOWES INC /DE/ (0000078814) (Subject)
SC 13D/A - PITNEY BOWES INC /DE/ (0000078814) (Subject)
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Below are some instances of options activity happening in the Industrials sector: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume UBER CALL TRADE BULLISH 07/19/24 $70.00 $56.7K 25.3K 12.5K FLR CALL SWEEP BEARISH 11/
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
Pitney Bowes Inc. (NYSE:PBI) ("Pitney Bowes" or the "Company"), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced the appointment of Lance Rosenzweig as the Company's permanent Chief Executive Officer ("CEO"), effective immediately. The Company's Board of Directors (the "Board") carried out an extensive CEO search process that was supported by a nationally recognized executive recruiting firm and included both internal and external candidates. After assessing Mr. Rosenzweig's considerable contributions as interim CEO and his track record of value creation at Pitney Bowes and at other co
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
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