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Pitney Bowes Inc. (NYSE: PBI) is a renowned global technology company established in 1920, dedicated to offering innovative products and solutions that help clients navigate the complexities of commerce. With a focus on customer information management, location intelligence, customer engagement, shipping and mailing, and global e-commerce, Pitney Bowes serves more than 1.5 million clients worldwide, including 90% of the Fortune 500, over 200 retailers, and numerous small businesses.
Pitney Bowes operates through three main business segments: Global E-commerce, Presort Services, and SendTech Solutions, with the majority of its revenue generated in the United States. The company's extensive portfolio includes domestic delivery, return and fulfillment services, cross-border shipping solutions, presorting services, and digital mailing and shipping technologies.
Driving their relentless pursuit of innovation are Pitney Bowes' 15,000+ dedicated employees. The company's commitment to technological advancement is evident in its 2,300 active patents, ensuring precise and accurate solutions for their clients. Recent partnerships, such as the one with ReverseLogix, enhance their service offerings, providing substantial savings and increased efficiency in return shipments.
In terms of financial health and corporate responsibility, Pitney Bowes continues to progress, leveraging its longstanding expertise and modern capabilities to meet the evolving needs of its diverse clientele. For the latest updates, corporate announcements, and financial results, visit their newsroom.
Pitney Bowes (NYSE: PBI) announced a study revealing trends in smart locker usage among 2,200 Americans. The findings show strong preferences for smart lockers among millennials, urban dwellers, and office workers, with 53% concerned about package theft. Notably, 30% would pay more for delivery to a locker. Millennials lead the way, with 33% using smart lockers and 73% appreciating their carbon footprint benefits. The study underscores the growing demand for secure, contactless delivery solutions, particularly as workplaces reopen. Pitney Bowes recently launched ParcelPoint™ Smart Lockers, drawing interest from key markets.
Pitney Bowes (NYSE:PBI) released its 2020 Corporate Responsibility Report, underscoring its commitment to sustainable practices and corporate citizenship. CEO Marc Lautenbach highlighted the company's achievements in achieving carbon neutrality by 2040, enhancing product sustainability, and ensuring employee safety during the COVID-19 pandemic. The report aligns with nine UN Sustainable Development Goals, focusing on areas such as gender equality and climate action. Pitney Bowes was also recognized for its diversity efforts, with 52% of its U.S. workforce being people of color and 43% women globally.
Pitney Bowes (NYSE: PBI) has launched a new and enhanced suite of Cross-Border Services aimed at helping ecommerce merchants expand globally. The upgrade includes enhanced technology and logistics capabilities, supporting clients in reaching over 200 destinations. The suite features four core services: Cross-Border Retail, Cross-Border Storefront, Cross-Border Delivery, and Cross-Border Quoting, designed for various merchant needs. Notably, parcel volumes from cross-border clients grew 100% year-over-year in Q1 2021, underscoring the growth potential in cross-border ecommerce.
Pitney Bowes (NYSE: PBI) reports its weekly BOXpoll consumer surveys indicating that ecommerce utilization rates in the U.S. remain strong, despite a 7% drop since January, with 47% of consumers shopping online more than pre-pandemic. The easing of mask mandates impacts shopping behavior, with 22% saying they will shop in-store more often. Moreover, 41% of consumers report a decrease in 'bracketing' practices. The company highlights increased consumer trust in retailers offering delivery guarantees, which could influence future online shopping trends.
Pitney Bowes develops plans to deploy AmbiSort robots, advanced automated parcel sorting systems, across its US ecommerce hubs over five years. This initiative aims to enhance operational efficiency, accuracy, and worker safety amidst rising parcel volumes. Following a successful pilot in Bloomington, California, the AI-powered systems improved sorting capabilities and productivity, providing clients with enhanced service. The partnership with Ambi Robotics underscores Pitney Bowes' commitment to innovative technology in ecommerce logistics, aligning with their goal to attract talent and remain competitive in the labor market.
Pitney Bowes (NYSE: PBI) launched the ParcelPoint™ Smart Lockers, aiming to enhance package management for organizations such as offices and universities. These lockers cater to the growing demand for contactless delivery, especially post-pandemic. With SaaS software for remote management, businesses can choose between pre-configured Express Series lockers, available in four weeks, or customized Plus Series options, delivered in ten weeks. The global automated parcel locker market is projected to exceed $1.4 billion by 2027, driven by rising ecommerce.
Pitney Bowes (NYSE: PBI) released its latest BOXpoll™, indicating a positive retail outlook as household incomes stabilize. The report reveals that 11% of Americans earn more than pre-pandemic levels, with consumer spending expected to rise by 9% this summer compared to last year. Key categories include a 12% increase in sporting goods and 9% in apparel. Notably, younger generations, especially Gen Z, plan significantly higher spending, reflecting a broader trend across urban and mid-income demographics and indicating a recovering retail market.
On May 20, 2021, IBM and Pitney Bowes announced a strategic agreement for IT automation and managed infrastructure services aimed at transforming Pitney Bowes' operations through hybrid cloud computing. This partnership will enhance collaboration between business and IT, supporting Pitney Bowes' operations for clients, including 90% of the Fortune 500. IBM will manage core infrastructure systems to maintain critical business processes, enabling Pitney Bowes to innovate in ecommerce, shipping, and financial services.
Pitney Bowes (NYSE:PBI) has announced a quarterly cash dividend of $0.05 per share, scheduled for payment on June 7, 2021. Stockholders of record as of May 21, 2021 will receive this dividend. The company, a leader in providing technology solutions for ecommerce, shipping, mailing, and financial services, serves a diverse client base, including 90% of the Fortune 500. Pitney Bowes has been an innovator for over 100 years, focusing on simplifying commerce transactions for businesses worldwide.
Pitney Bowes reported Q1 2021 revenue of $915 million, marking a 15% increase from the previous year. The company's global ecommerce segment achieved significant growth, with revenues up 41% and positive EBITDA in March. Despite a GAAP EPS loss of ($0.18), adjusted EPS improved to $0.07, aided by a tax benefit. Debt was reduced by $126 million, enhancing the capital structure. Full-year expectations include low-to-mid single-digit revenue growth, with adjusted EPS anticipated to increase, particularly from ecommerce improvements.
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