Pitney Bowes (PBI) posted a fourth quarter net loss of $223.8 million compared to profit of $6.3 million, prior year. Loss per share was $1.27 compared to profit of $0.04. The company noted that its GAAP per share result included a loss of $1.24 for a non-cash goodwill impairment charge related to the Global Ecommerce segment and $0.08 for restructuring charges. Adjusted EPS was $0.07 compared to $0.06, prior year. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.02, for the quarter. Analysts' estimates typically exclude special items.
Fourth quarter revenue was $872 million, a decrease of 4 percent on both a reported and comparable basis from prior year.
For 2024, the company expects revenue growth to range from flat to a low-single digit decline and EBIT margins to remain relatively flat on a year-over-year basis.
Pitney Bowes also announced that its Board has declared a quarterly cash dividend on the company's common stock of $0.05 per share. The dividend will be paid on March 14, 2024 to stockholders of record on February 9, 2024.
Shares of Pitney Bowes are up 5% in pre-market trade on Thursday.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.