Pitney Bowes Q3 adjusted EPS $0.21 vs $0.16 prior; raises FY adj. EBIT guidance to $355-360M

PITNEY BOWES INC /DE/

2024-Q3 EPS reported -$0.91 revenue$1,510,477,000

Revenue $499M (-1% YoY); GAAP EPS loss $0.75 includes $1.42 loss from discontinued ops.
Adjusted EBIT $103M (+22% YoY); free cash flow $75M, up $19M YoY.
Presort volumes up 3%; segment EBIT +59% to $46M. SendTech shipping revenue +8%.
Cost initiatives cut $90M annualized; raising savings target to $150-170M.
GEC wind-down on track; targeting ~$150M one-time exit costs with $136M annual earnings improvement.

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