---
schema_version: "secwatch.filing_event.v1"
accession: "0000078814-24-000023"
form_type: "8-K"
ticker: "PBI"
cik: "0000078814"
company_name: "PITNEY BOWES INC /DE/"
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T01:13:04.748625+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pitney Bowes Q1 2024: revenue flat at $831M, adjusted EBIT +71% to $56M

## Summary
- GAAP net loss $3M, improved $5M YoY; GAAP EPS ($0.02) vs ($0.04); Adjusted EPS ($0.01) flat.
- SendTech adjusted EBIT $101M (+6%); Presort Services record revenue $170M (+7%), adjusted EBIT $50M (+50%).
- Global Ecommerce revenue $333M (-2%); domestic parcel volume +20% to 60M; adjusted EBIT loss $35M vs $33M.
- Free cash flow was use of $17M, improved $43M YoY; cash and short-term investments $538M.
- Cost savings from restructuring expected to exceed $75-85M target; 2024 guidance: revenue flat to low-single digit decline.

## SEC filing metadata
- accession: 0000078814-24-000023
- form_type: 8-K
- ticker: PBI
- cik: 0000078814
- company_name: PITNEY BOWES INC /DE/
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/78814/000007881424000023/0000078814-24-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/78814/000007881424000023/pbi-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000078814-24-000023
- JSON: https://secwatch.observer/filing/0000078814-24-000023.json
- Plain text: https://secwatch.observer/filing/0000078814-24-000023.txt

## Key facts
- Earnings Releases
  PITNEY BOWES INC /DE/ reported First Quarter 2024 results: EPS GAAP EPS ($0.02).
  - Period: First Quarter 2024
  - EPS: GAAP EPS ($0.02)
  - Result: reported results
  source text: Revenue in the quarter was $831 million, flat compared to prior year
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000007881424000023/0000078814-24-000023-index.htm
- Earnings Releases
  PITNEY BOWES INC /DE/ reported First Quarter 2024 results: EPS GAAP EPS ($0.02).
  - Period: First Quarter 2024
  - EPS: GAAP EPS ($0.02)
  - Result: reported results
  source text: Net income was a loss of $3 million, an improvement of $5 million over prior year despite higher interest and tax expense; adjusted EBIT was $56 million, up $23 million or 71 percent over prior year
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000007881424000023/0000078814-24-000023-index.htm
- Earnings Releases
  PITNEY BOWES INC /DE/ reported First Quarter 2024 results: EPS GAAP EPS ($0.02).
  - Period: First Quarter 2024
  - EPS: GAAP EPS ($0.02)
  - Result: reported results
  source text: now expect savings to exceed $75 to $85 million target • Cash and short-term investments were $538 million at quarter-end Press Release Exhibit 99.1 Earnings per share results are summarized in the table below: First Quarter 2024 2023 GAAP EPS ($0.02) ($0.04) Restructuring Charges $0.02 $0.01 Foreign Currency Gain on Intercompany Loans ($0.02) - Gain on Debt Redemption - ($0.01) Proxy Solicitation Fees - $0.03 Transaction Costs $0.01 - Adjusted EPS ($0.01) ($0.01) Business Segment Reporting Effective January 1, 2024, we moved the digital delivery services offering from our Global Ecommerce segment to the SendTech Solutions segment in order to leverage our technology and innovation capabilities to better serve our clients.
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000007881424000023/0000078814-24-000023-index.htm
- Earnings Releases
  PITNEY BOWES INC /DE/ reported Full Year 2024 results: revenue revenue growth to range from flat to a low- single digit decline. Guidance reaffirmed.
  - Period: Full Year 2024
  - Revenue: revenue growth to range from flat to a low- single digit decline
  - Guidance: reaffirmed
  - Result: guidance update
  source text: We are maintaining our guidance and expect revenue growth to range from flat to a low- single digit decline and EBIT margins to remain relatively flat on a year-over-year basis.
  evidence_url: https://www.sec.gov/Archives/edgar/data/78814/000007881424000023/0000078814-24-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.