Pitney Bowes Q3 GAAP EPS loss $0.07, revenue down 6%; restructuring savings target raised to $115M

PITNEY BOWES INC /DE/

2023-Q3 EPS reported -$0.92 revenue$2,394,770,000

Q3 revenue $784M, down 6% reported and 1% comparable vs prior year.
GAAP EPS loss $0.07 vs $0.03 in Q3 2022; adjusted EPS $0.00 flat.
Cash from operations $25M, free cash flow $15M; cash & short-term investments $579M.
Restructuring plan expanded: additional $40M savings, total annual savings target now ~$115M by end of 2024.
SendTech and Presort segments grew profit; Global Ecommerce underperformed.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.92

PITNEY BOWES INC /DE/ reported the third quarter of fiscal year 2023 results: revenue $784 million, EPS GAAP EPS was a loss of $0.07.

Period: the third quarter of fiscal year 2023
Revenue: $784 million
EPS: GAAP EPS was a loss of $0.07
Result: reported results

Exact text from the filing

initiatives and long-term steps that can drive enhanced value for our stockholders and other stakeholders.” Third Quarter Financial Highlights Revenue in the quarter was $784 million, a decrease of 6 percent on a reported basis and 1 percent on a comparable basis versus prior year (1) GAAP EPS was a loss of $0.07 in the quarter versus GAAP EPS of $0.03 in

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Source: SEC EDGAR

accession 0001157523-23-001616

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