Pitney Bowes Inc. - PBI STOCK NEWS

Pitney Bowes (NYSE:PBI) has acquired the presort assets of Skymail International, enhancing its network in the Western U.S. The acquisition, finalized on October 9, is anticipated to contribute over 100 million First Class mail pieces annually to the Pitney Bowes Presort Services network. With a new operating center in Salt Lake City, this move aims to improve service for clients in the region. Additionally, Pitney Bowes continues to grow its Presort Services through strategic acquisitions, including one from Pittsburgh Mailing in September.

Pitney Bowes (NYSE: PBI) released its latest Parcel Shipping Index, highlighting significant growth in the parcel shipping industry in 2021. Global parcel volume reached $159 billion, with 5,000 parcels shipped every second. Total carrier revenue soared to $491.5 billion, up 17% from the previous year. Notably, China led in parcel volume with 108 billion parcels, while the U.S. generated the highest carrier revenue at $188 billion. The Index predicts global parcel volume will likely reach $256 billion by 2027, reflecting an 8.5% CAGR.

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.