Pitney Bowes Q4 GAAP EPS loss $1.27, revenue down 4% YoY; goodwill impairment of $1.24

PITNEY BOWES INC /DE/

2023-FY EPS reported -$2.20 revenue$3,266,348,000

Q4 revenue $872M (-4% reported and comparable YoY); full-year revenue $3.3B (-8% reported).
Q4 GAAP EPS loss $1.27 vs. $0.04 prior year; includes $1.24 non-cash goodwill impairment in Global Ecommerce.
Adjusted EPS $0.07 vs. $0.06 prior year; adjusted figures exclude restructuring and impairment charges.
Q4 free cash flow $78M; full-year free cash flow $22M; total debt reduced by $59M in 2023.
Global Ecommerce segment profitability improved YoY and sequentially; SendTech and Presort delivered profit increases.

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 0.7

PITNEY BOWES INC /DE/ reported financial results for the fourth quarter and full year of 2023.

Period: the fourth quarter and full year of 2023
Result: reported results

Exact text from the filing

On February 1, 2024, the Registrant issued a press release setting forth its financial results, including consolidated statements of income, supplemental information, and a reconciliation of reported results to adjusted results for the three and twelve months ended December 31, 2023 and 2022, and consolidated balance sheets at December 31, 2023 and December 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1 and hereby incorporated by reference.

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Source: SEC EDGAR

accession 0001157523-24-000148

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