Pitney Bowes Inc. - PBI STOCK NEWS

Pitney Bowes (NYSE: PBI) announced that Gregg Zegras, EVP and President of Global Ecommerce, along with Ned Zachar, VP of Investor Relations, will present at the Deutsche Bank 30th Annual Leveraged Finance Conference on September 21, 2022. The presentation is scheduled for 10:40 AM MST (1:40 PM EDT), during which Mr. Zegras will discuss the long-term plan for the Global Ecommerce business unit. Interested parties can view the live stream and access the replay via the company's investor relations website.

Gatik and Pitney Bowes have announced a multi-year agreement to incorporate Gatik's autonomous class 6 trucks into Pitney Bowes' logistics network in Dallas, Texas, starting Q1 2023. This partnership aims to enhance delivery efficiency, reduce logistics costs, and improve service reliability. Gatik’s autonomous fleet will facilitate multiple daily deliveries, streamlining operations. A safety operator will initially monitor the trucks while data collection will optimize future performance, laying the groundwork for broader integration across Pitney Bowes' national network.

Pitney Bowes (NYSE:PBI) has declared a quarterly cash dividend of $0.05 per share, set to be paid on September 8, 2022, to shareholders on record as of August 22, 2022. This announcement reflects the company's ongoing commitment to returning value to its shareholders amidst its operations in technology, logistics, and financial services, primarily serving Fortune 500 companies.

Pitney Bowes (NYSE: PBI) has partnered with Narvar to enhance retail merchandise return processes, aiming to control costs and improve customer satisfaction. Retailers face an average return cost of 21% of order value, which can significantly impact profitability. The collaboration combines Narvar's post-purchase platform with Pitney Bowes' logistics capabilities, enabling more efficient returns and exchanges. This initiative allows for seamless integration of technologies, including label-less returns and nationwide pickups, and aims to prepare retailers for the upcoming holiday season.

Pitney Bowes (NYSE: PBI) reported second quarter 2022 revenue of $871 million, a 3% decrease from the previous year. GAAP EPS was $0.02, down from $0.11 in Q2 2021. The company faced macroeconomic challenges, particularly with cross-border volumes and the strong US dollar, impacting its Global Ecommerce segment, which saw a 6% decline in revenue. However, domestic parcel revenue grew by 6%, and Presort Services revenue increased by 3%. Proceeds from the $100 million sale of Borderfree bolster financial flexibility as the firm navigates economic uncertainties.

Pitney Bowes (NYSE:PBI) has announced the launch of new regional delivery options through its Designed Delivery service aimed at enhancing cost-effective shipping for direct-to-consumer logistics teams.

The service currently covers:

• California (Los Angeles, San Francisco)
• Northeast (New York, Boston)

This initiative reflects the company's efforts to improve the ecommerce fulfillment process, addressing the complexities arising from distributed inventory models while unlocking new value for clients.

Pitney Bowes (NYSE:PBI) has announced the expansion of its Designed Delivery service into the Canadian market, aiding local retailers in reaching both Canadian and US consumers. This service leverages the company's established US delivery network and deep Canadian carrier partnerships.

The offering includes optimized delivery speed, a diversified last mile network, and customizable tracking solutions at no extra cost. The service aims to enhance the order experience for Canadian brands, with substantial interest reported from major shippers.

Pitney Bowes (NYSE: PBI) announced that Christopher Johnson, Senior VP and President of Financial Services, has been recognized in Savoy Magazine’s 2022 Most Influential Black Executives in Corporate America list. Johnson oversees the company's strategy, growth, and operations in financial services. This prestigious listing was derived from over 500 candidates, highlighting his achievements and community contributions. Marc B. Lautenbach, President and CEO, commended Johnson's leadership and integrity, emphasizing the company’s appreciation for his role in driving business success.