Pitney Bowes Inc. (PBI), a provider of SaaS shipping solutions, mailing innovation, and financial services, Monday said it expects fourth-quarter revenue in the range of $505 million to $515 million, compared to prior year's comparable revenue of $526 million.
While updating guidance on November 7, the company had said that it expects full-year revenue decline in a low-single-digit range. Further, full-year adjusted EBIT is expected to increase to $355 million to $360 million.
The outlook reflects the Global Ecommerce exit process, in which a majority of the segment is now reported as discontinued operations, while remaining portion of the segment is reported in an "Other" category.
Further, Pitney Bowes noted that it has not provided guidance for fiscal year 2025, but last week said it expects SendTech to continue experiencing minor revenue softness in the coming quarters. This would be largely in-line with the softness experienced in the third quarter, due to factors that include the required product migration to new IMI technology and a reduction in equipment sales.
The company said it expects SendTech's revenue to flatten out by the start of fiscal year 2026. The firm has identified long-term opportunities for enterprise-wide revenue growth due to SendTech's expansion in the ecommerce shipping category and Presort's ability to increase roll-up acquisitions.
Pitney Bowes also disclosed on November 7 that it is evaluating options for reducing and refinancing debt. Through focusing on paying off and refinancing high-cost debt, the company expects to reduce interest payments and free up capital for other value-enhancing initiatives. Leadership expects to have an update in the near term on this item.
Further, Pitney Bowes reportedly has announced that it will pay a dividend of $0.05 per share on December 6.
In pre-market activity on the NYSE, Pitney Bowes shares were gaining around 5.5 percent to trade at $8.00.
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