Pitney Bowes Inc. - PBI STOCK NEWS

Pitney Bowes (NYSE: PBI) announced that its bank has signed a term loan and a revolving line of credit with SST Corporation, a pharmaceutical ingredient distributor. This financing aims to consolidate SST's existing debt and provide necessary capital for growth. SST faced challenges with its previous bank and chose Pitney Bowes for its accessibility and understanding of SMB needs. The deal showcases Pitney Bowes' commitment to supporting small- and mid-market businesses as part of its expanded financial services portfolio.

Pitney Bowes has declared a $0.05 quarterly cash dividend on its common stock, scheduled for payment on March 8, 2021. Stockholders of record as of February 12, 2021 will receive this dividend. Pitney Bowes is a global technology company specializing in commerce solutions across ecommerce, shipping, and mailing, serving clients including 90% of the Fortune 500. With a century of innovation, the company focuses on simplifying commerce transactions through advanced technology and accurate analytics.

Pitney Bowes reported strong financial results for Q4 and full year 2020. Q4 revenue reached $1.0 billion, up 24%, driven by a 60% surge in Global Ecommerce revenue, exceeding $500 million for the first time. Full year revenue was $3.6 billion, an 11% increase. However, the company reported a GAAP EPS loss of $1.06 for 2020. Despite the challenges posed by the pandemic, Pitney Bowes aims for low-to-mid single digit revenue growth in 2021, with adjusted EPS expected to rise.

Pitney Bowes (NYSE: PBI) has achieved a major milestone, with clients processing one billion mail pieces using SendPro C® and SendPro C® Auto. These platforms enable efficient processing, printing, and shipping, managing around 2 million mail pieces daily in North America. Launched three years ago, SendPro C provides a digitally connected all-in-one solution, enhancing productivity for businesses during the pandemic. The technology also offers clients preferential rates and cost management capabilities, bolstered by a collaboration with UPS for shipping savings.

Pitney Bowes (NYSE: PBI) has announced the appointment of Ana Maria Chadwick as Executive Vice President and Chief Financial Officer, effective January 29, 2021. Chadwick joins from GE Capital, where she held various executive roles, including President and CEO of Global Legacy Solutions. She will oversee financial operations and report to CEO Marc Lautenbach. Lautenbach expressed confidence in her track record of driving value from complex financial situations. Chadwick expressed enthusiasm about the company’s potential as it continues to innovate in commerce solutions.

Pitney Bowes (NYSE:PBI) announced the reinstatement of pricing adjustments for its Standard and Cross Border Delivery services effective January 25, 2021. This decision responds to record parcel volumes and ongoing COVID-19-related operational costs. Patrick Allard, Chief Revenue Officer, noted the continuous impact of increased labor, transportation costs, and safety measures on operations. The adjustments aim to ensure clients can effectively plan for their shipping expenses as the company commits to transparent pricing amidst ongoing challenges in the logistics sector.

Pitney Bowes (NYSE: PBI) has announced a financing deal through Wheeler Financial with Choice Canning, a food producer based in India. The financing will facilitate the acquisition of refrigerated vehicles for its facility in Pittston, Pennsylvania. This move is expected to yield monthly savings of $28,000 by eliminating rental and third-party transportation costs. Choice Canning will own the assets at the end of a five-year lease. This agreement emphasizes Pitney Bowes' commitment to supporting small to mid-market businesses with flexible financing solutions.