Pitney Bowes Q1 revenue $835M (-10% YoY), GAAP EPS loss $0.04, net loss $8M

PITNEY BOWES INC /DE/

2023-Q1 EPS reported -$0.04 revenue$834,538,000

GAAP EPS loss $0.04 vs EPS $0.12 in Q1 2022; Adjusted EPS loss $0.01 vs $0.08.
Revenue $835M, down 10% reported and 4% comparable basis; net loss $8M.
Cash from ops used $40M; Free Cash Flow used $61M; cash & investments $527M.
Restructuring plan targeting $75M annual expense savings by year-end 2024.
Global Ecommerce domestic parcels up 22% to 50M; Presort margins up ~500 bps.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PITNEY BOWES INC /DE/ reported first quarter 2023 results: revenue $835 million, net income Net loss of $8 million, EPS GAAP EPS was a loss of $0.04.

Period: first quarter 2023
Revenue: $835 million
Net income: Net loss of $8 million
EPS: GAAP EPS was a loss of $0.04
Result: reported results

Exact text from the filing

Revenue in the quarter was $835 million, a decrease of 10 percent on a reported basis and 4 percent on a comparable basis versus prior year (1) GAAP EPS was a loss of $0.04 and Adjusted EPS was a loss of $0.01 in the quarter versus GAAP EPS of $0.12 and Adjusted EPS of $0.08 in first quarter of 2022 Net loss of $8 million in the quarter compares to net income of $21 million in first quarter 2022

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Source: SEC EDGAR

accession 0001157523-23-000721

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