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Free Research Report as Pitney Bowes’ Quarterly Revenues Advanced 18.4%

LONDON, UK / ACCESSWIRE / February 20, 2018 / Active-Investors.com has just released a free earnings report on Pitney Bowes Inc. (PBI). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PBI. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 31, 2018. The mailing equipment and software Company surpassed top- and bottom-line expectations, and provided guidance for the upcoming quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Pitney Bowes most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

For the three months ended December 31, 2017, Pitney Bowes' revenues advanced 18% to $1.05 billion compared to $887.07 million in Q4 2016. The Company's revenue numbers exceeded analysts' estimates by $59 million.

For the full year FY17, Pitney Bowes' revenues grew 4% to $3.55 billion compared to $3.41 billion in FY16.

During Q4 2017, Pitney Bowes' GAAP earnings totaled $89.95 million, or $0.48 per diluted share, compared to a net loss of $84.34 million, or $0.45 loss per diluted share, in Q4 2016. The Company's reported quarter results included $0.10 for restructuring charges, $0.01 for transaction costs, a $0.01 loss for the extinguishment of debt, and a net benefit of $0.21 recorded on the provision for income tax related to the enactment of the Tax Cuts and Jobs Act 2017 (TCJA). In Q4 2016, Pitney Bowes' results included a $0.05 charge related to restructuring and asset impairment, a $0.90 goodwill impairment charge, and a $0.01 loss due to divestiture transactions.

On an adjusted basis, Pitney Bowes reported earnings per share (EPS) of $0.40 versus of $0.53 in the year earlier same quarter. The Company's EPS beat Wall Street's estimates of $0.36.

For FY17, Pitney Bowes' GAAP earnings were $261.34 million, or $1.39 per diluted share, compared to $92.81 million, or $0.49 per diluted share, in FY16. The Company's adjusted diluted EPS totaled $1.41 compared to $1.68 in FY16.

Segment Results

During Q4 2017, Pitney Bowes' Small and Medium Business (SMB) Solutions segment's revenues declined 5% to $441 million on a y-o-y basis, while its earnings before interest and taxes (EBIT) dropped 10% to $140 million. Within the segment, North America Mailing unit's sales dropped 6% to $340 million on a y-o-y basis, attributed to lower tabletop inserter sales. Recurring revenue streams declined, largely around financing, rentals, and service revenues. The SMB segment's International Mailing unit's revenues totaled $102 million, down 1% on a y-o-y basis, primarily due to lower equipment sales.

For Q4 2017, Pitney Bowes' Enterprise Business Solutions segment's revenues advanced 10% to $256 million on a y-o-y basis. The segment's EBIT grew 6% to $47 million. Within the segment, Production Mail unit's sales grew double-digits to $128 million on a y-o-y basis, largely due to higher print and sorter equipment placements. The segment's Presort Services unit's revenues advanced 8% to $128 million, driven by an improved revenue per piece along with higher First-Class mail, parcel, and flats volumes processed.

During Q4 2017, Pitney Bowes' Digital Commerce Solutions segment's revenues soared 86% to $352 million. The segment's EBIT fell 42% to $10 million, primarily due to a drop in EBIT from its Global Ecommerce unit. In the reported quarter, the segment's Software Solutions unit's revenues fell 3% to $88 million on a y-o-y basis, driven by lower license and service revenues. The segment's Global Ecommerce unit's sales soared 169% to $263 million, as the reported quarter results included a full quarter of revenue from Newgistics business. Excluding Newgistics, the segment continued to generate double-digit revenue growth, driven by a strong performance in both cross border retail and marketplace volumes along with domestic shipping. The segment's Global Ecommerce unit's EBIT margin declined on a y-o-y basis, largely due to investments in market growth opportunities as well as the amortization of acquisition-related intangible assets.

Cash Matters

During Q4 2017, Pitney Bowes' GAAP cash from operations was $165 million, and free cash flow was $145 million. During the reported quarter, the Company used cash to return $35 million in dividends to shareholders, and to pay $11 million for restructuring payments.

For FY17, Pitney Bowes' GAAP cash from operations was $496 million, and free cash flow was $384 million. During FY17, the Company utilized cash to return $139 million in dividends to shareholders and to pay $41 million for restructuring payments.

2018 Guidance

For the full fiscal year 2018, Pitney Bowes is forecasting revenues, on a constant currency basis, to be in the range of 9% to 13% growth on a y-o-y basis. The Company is expecting adjusted EPS to be in the band of $1.40 to $1.55, and free cash flow to be in the range of $350 million to $400 million.

Stock Performance Snapshot

February 16, 2018 - At Friday's closing bell, Pitney Bowes' stock slightly climbed 0.49%, ending the trading session at $12.34.

Volume traded for the day: 1.27 million shares.

Stock performance in the previous three-month period – up 28.01%; and year-to-date – up 10.38%

After last Friday's close, Pitney Bowes' market cap was at $2.30 billion.

Price to Earnings (P/E) ratio was at 24.10.

The stock has a dividend yield of 6.08%.

The stock is part of the Consumer Goods sector, categorized under the Business Equipment industry.


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