Pitney Bowes Inc. - PBI STOCK NEWS

Pitney Bowes (NYSE: PBI) reported its third quarter 2021 financial results, revealing revenues of $875 million, a 2% decrease from the prior year, but an 11% increase compared to Q3 2019. GAAP EPS settled at $0.05, with adjusted EPS at $0.08. Key highlights include a 9% revenue growth in Presort Services and a 100 basis points improvement in Global Ecommerce gross margin. Despite challenges in domestic parcel volumes, management remains optimistic about maintaining positive EBITDA for Global Ecommerce by year-end.

Pitney Bowes (NYSE:PBI) is enhancing its capabilities to meet the growing demand for ecommerce during the peak holiday season. This includes hiring thousands of seasonal warehouse associates and drivers, expanding its ecommerce hubs in Boston, Columbus, Seattle, and Dallas, and investing in automation technologies like AmbiSort AI-powered robotics. The company aims to provide improved tracking, visibility, and delivery projections while increasing wages by $3 to $5 for seasonal workers. In 2020, its Global Ecommerce business generated $1.6 billion in revenue.

Pitney Bowes (NYSE: PBI) announced a 5.9% general rate increase (GRI) for its ecommerce services, effective January 2, 2022. This increase applies to standard delivery, returns, and cross-border delivery services, emphasizing the company's commitment to clear pricing without hidden fees. The early announcement aims to help clients plan their logistics spending. Despite rising costs, Pitney Bowes has maintained competitive pricing and continues to enhance its global logistics capabilities through investments in technology and infrastructure.

Pitney Bowes (NYSE: PBI) has launched its ParcelPoint™ Smart Lockers in Canada, expanding its innovative locker solutions in response to a growing parcel market. The Pitney Bowes Shipping Index revealed a 29% increase in Canada's parcel revenue, totaling $11.5 billion in 2020. The new lockers aim to enhance safety and convenience for organizations during office reopenings. With features like remote management and detailed analytics, these lockers cater to various organizational needs while addressing increasing demand for secure delivery methods.

Pitney Bowes (NYSE:PBI) has been honored with the 2021 Climate Leadership Award for Excellence in Greenhouse Gas Management, recognizing its commitment to reducing environmental impact for the second consecutive year. The company achieved nearly 13% reduction in global emissions from 2015 to 2020, surpassing its 8% goal. Key initiatives include using fuel-efficient vehicles, reducing electricity consumption by 35 million kilowatt hours, and promoting recycling. Pitney Bowes aims for carbon neutrality by 2040, enhancing operational efficiency and utilizing green technologies.

Pitney Bowes (NYSE: PBI) has appointed Tom Doherty as Vice President of Lending Services and Products, a move aimed at enhancing its financial services for small and mid-sized businesses. Doherty, previously with CIBC Bank USA, will lead the lending segment, which includes mail lending and logistics financing. His appointment comes as the company seeks to deepen its commitment to small businesses by developing new markets and products. This strategic role is seen as critical for driving long-term growth.

Pitney Bowes (NYSE: PBI) released its Parcel Shipping Index showing a 27% increase in global parcel volume to 131.2 billion in 2020, averaging 4160 parcels shipped per second. The Index indicates that parcel volume is expected to double by 2026, reaching 266 billion with an 11% CAGR from 2021-2026. Notably, China is projected to hit 100 billion parcels in a single year by 2021. Additionally, global parcel revenue reached $429.5 billion, up 22% year-over-year, highlighting significant growth across major markets.