Pitney Bowes Q2 GAAP EPS loss $0.81 vs $0.02 profit; revenue down 11%

PITNEY BOWES INC /DE/

2023-Q2 EPS reported -$0.85 revenue$1,611,019,000

Revenue $776M, down 11% reported (5% comparable); GAAP EPS loss $0.81 includes $0.67 goodwill impairment charge.
Adjusted EPS loss $0.02 vs profit $0.02 in prior year; Presort EBIT +59%, SendTech EBIT +2%.
Global Ecommerce domestic parcels +29% to 50M, but segment weakness drove impairment.
Signed $275M private placement in July to refinance 2024 notes and Term Loan A.
On track for $75M annual expense savings by end of 2024 from restructuring.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PITNEY BOWES INC /DE/ reported second quarter 2023 results: revenue $776 million, EPS GAAP EPS was a loss of $0.81 and Adjusted EPS was a loss of $0.02 in the quarter.

Period: second quarter 2023
Revenue: $776 million
EPS: GAAP EPS was a loss of $0.81 and Adjusted EPS was a loss of $0.02 in the quarter
Result: reported results

Exact text from the filing

Revenue in the quarter was $776 million, a decrease of 11 percent on a reported basis and 5 percent on a comparable basis versus prior year (1) GAAP EPS was a loss of $0.81 and Adjusted EPS was a loss of $0.02 in the quarter versus GAAP EPS and Adjusted EPS of $0.02 in second quarter 2022

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PITNEY BOWES INC /DE/ filing history →

Source: SEC EDGAR

accession 0001157523-23-001240

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