Pitney Bowes Posts $52.7M Third-Quarter Net Income
PBI sits 95% above its 52-week low of $8.95.
Summary
Pitney Bowes reported third-quarter net income of $52.7 million, topping the $49.9 million it earned in the prior quarter, with EPS of 37c and adjusted EPS of 42c on revenue of $456.2 million. That builds on Q2's 66% year-over-year profit jump and keeps the company on track against reaffirmed full-year guidance, which now calls for FY adjusted EPS of $1.58 to $1.67. The print lands after a stretch of balance-sheet work: a $46.5 million debt tender completed in September and a Term Loan B repricing that cut the SOFR margin to 300bps from 375bps, both of which lower interest costs and support earnings. Insiders, including CEO Kurt Wolf and Hestia Capital, have been steady sellers under pre-planned 10b5-1 programs, so the profit beat is the first hard fundamental datapoint in weeks.
At the time of this announcement, PBI was trading at $17.44 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $8.95 to $19.07. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.