Pitney Bowes Inc. - PBI STOCK NEWS

Pitney Bowes Inc. (NYSE:PBI) announced a significant increase in US parcel volume, reaching 20 billion parcels in 2020, a 37 percent growth from 2019. The report indicates that US parcel volume doubled from 10 billion to 20 billion between 2015 and 2020. The Pitney Bowes Parcel Shipping Index forecasts that US parcel volume will nearly double by 2026, reaching 32-39 billion parcels. Carrier revenue also saw a rise, totaling $171 billion in 2020. Notably, Amazon Logistics achieved a 109 percent revenue increase, significantly enhancing its market presence.

Pitney Bowes (NYSE:PBI) has appointed Ned Zachar as Vice President of Investor Relations, succeeding Adam David, who transitions to lead Financial Planning and Analysis. Zachar, previously a Partner at KLS Diversified, brings extensive experience in investment management and corporate finance. His role will focus on enhancing investor communication and strategy. David will expand his responsibilities within the Finance team, now overseeing the Financial Systems team as well.

Pitney Bowes Inc. (NYSE:PBI) announced pricing adjustments for its domestic and cross-border delivery services effective October 3rd. The changes aim to assist clients in anticipating peak shipping costs amid rising transportation, labor, and COVID-19-related expenses. Key actions include volume caps for shipments, additional fees for oversized packages, and a December 12 induction cut-off for Standard Delivery. The company has ceased onboarding new Standard Delivery clients in Q3 to ensure capacity for existing ones, while investing in workforce and technological enhancements for better service.

Pitney Bowes (NYSE:PBI) has announced the redemption of all outstanding 3.875 percent Notes due 2022, effective September 19, 2021. The redemption price will include the principal amount, accrued interest, and any applicable make-whole amount. Following the redemption date, interest will cease to accrue. The Bank of New York Mellon will notify all registered holders of the Notes regarding this redemption.

This move reflects the company's strategy to manage its debts effectively.

Pitney Bowes (NYSE:PBI) has declared a quarterly cash dividend of $0.05 per share, payable on September 8, 2021, to stockholders on record as of August 20, 2021. This dividend emphasizes the company's ongoing commitment to returning value to shareholders. As a global technology firm, Pitney Bowes provides essential ecommerce, shipping, and financial services, serving a diverse clientele, including 90% of the Fortune 500. The company has been innovating for over a century, optimizing transaction accuracy and efficiency.

Pitney Bowes Inc. (NYSE: PBI) reported its Q2 2021 financial results, achieving a 7% revenue growth to $899 million. GAAP EPS stood at $0.11, boosted by a £0.03 tax benefit. The company emphasized the strong performance of its Global Ecommerce segment, which became EBITDA positive, and Presort Services saw a 14% revenue increase. SendTech Solutions also reported growth, with a revenue rise of 8%. The full-year outlook predicts low-to-mid single-digit revenue growth and an adjusted EPS between $0.35 and $0.42.

Pitney Bowes (NYSE: PBI) has appointed Nick Smith as SVP of Strategy, Product, and Platform Management for Global Ecommerce, while Brent Cervenka joins as SVP of Global Operations from Amazon. Smith, with the company since 2009, will lead the global parcel platform, enhancing ecommerce service delivery. Cervenka brings 15 years of Amazon experience in fulfillment and transportation operations. These strategic appointments aim to reinforce the management team ahead of the peak shipping season, highlighting the company’s commitment to adapting to the evolving ecommerce landscape.