Pitney Bowes Inc. (PBI), a provider of digital shipping, mailing, and financial solutions, on Tuesday reported a rise in preliminary adjusted earnings for the first quarter of fiscal 2026, despite a decline in revenue. In addition, the company has revised up its annual earnings outlook.
For the first quarter, Pitney Bowes reported adjusted income of $0.47 per share, higher than $0.33 per share in the same period last year. Excluding items, EBIT was $130 million, compared with $120 million a year ago. Revenue was $477 million, less than $493 million in the previous year.
For fiscal 2026, Pitney Bowes now anticipates adjusted income of $1.50 to $1.65 per share, higher than the earlier guidance of $1.40 to $1.60 per share. Excluding items, EBIT is now projected to be $425 million to $465 million against the prior expectations of $410 million to $460 million.
Pitney Bowes now expects revenue of $1.800 billion to $1.860 billion, compared with the earlier guidance of $1.760 billion to $1.860 billion.
The company said: "Initial guidance for adjusted EBIT and adjusted EPS excluded approximately $15.4 million and $0.08, respectively, in certain pension related expenses. After further analysis, the company concluded it will no longer exclude these expenses. As such, updated guidance for adjusted EBIT now includes an addback of approximately $15.4 million of pension related costs, and adjusted EPS now includes an addback of $0.08 of post-tax pension related costs."
PBI was up by 7.91% at $14.24 in the pre-market trade on the New York Stock Exchange.
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