Pitney Bowes Inc. - PBI STOCK NEWS

Pitney Bowes (NYSE: PBI) announced a 6.5% general rate increase (GRI) for ecommerce services, effective January 1, 2023. This increase applies to standard delivery of parcels, standard returns, and cross-border delivery services. The company aims to maintain performance and invest in technology infrastructure while offering competitive rates amidst inflationary pressures. Patrick Allard, Chief Revenue Officer, stated that the GRI is lower than other major carriers, ensuring service quality and transparent pricing.

Pitney Bowes has launched the PitneyShip Cube, a compact, Wi-Fi enabled thermal shipping label printer integrated with a 15-pound scale. Users can process orders from platforms like Amazon, eBay, and Shopify directly from their mobile devices or computers. The device offers features such as discounted shipping rates, automatic email tracking notifications, and easy integration with e-commerce accounts. The PitneyShip Cube is priced at $269 and aims to enhance efficiency for both e-commerce and office users.

Pitney Bowes (NYSE:PBI) has declared a quarterly cash dividend of $0.05 per share, set to be paid on December 6, 2022, to stockholders of record on November 15, 2022. This announcement reinforces the company's commitment to returning value to its shareholders amidst challenging market conditions.

Pitney Bowes (NYSE:PBI) continues its partnership with eBay (NASDAQ:EBAY), providing essential cross-border logistics services for US and UK sellers. Since 2012, Pitney Bowes has supported eBay's Global Shipping Program and will now assist in transitioning to eBay's new International Shipping service. The renewed agreement in the UK aims to enhance eBay’s marketplace by adding more sellers and simplifying international selling. With services in place since 2014, Pitney Bowes is focused on making international shipping seamless for sellers and buyers.

Pitney Bowes (NYSE: PBI) reported its Q3 2022 financials, revealing a revenue decrease of 5% to $831 million and GAAP EPS of $0.03, down from $0.05 a year prior. Domestic Parcel revenue grew 2%, while Presort revenues rose 4%. However, Global Ecommerce faced an 11% revenue decline due to international challenges linked to US dollar strength. The company reaffirmed its full-year revenue guidance, expecting low-single-digit percentage changes. Despite cash flow challenges, cash and short-term investments stood at $607 million at quarter-end.

Pitney Bowes (NYSE:PBI) has announced significant new and expanded client relationships as the holiday shopping season approaches. The company has onboarded over 30 new clients and strengthened partnerships with existing ones, including SHEIN, The Bay, and BARK. This is supported by enhancements in their service delivery systems, including automation and robotics. The Global Ecommerce unit generated $1.7 billion in revenue in 2021, reflecting growth from a single service in 2012 to over 450 clients today. Pitney Bowes aims to leverage its improved domestic delivery network for peak season success.

Pitney Bowes (NYSE: PBI) has expanded its Shipping 360 SaaS platform with two new applications: PitneyTrack Inbound and PitneyAnalytics. These cloud-based solutions are designed to enhance shipping and receiving operations by automating parcel handling and providing data-driven insights. PitneyTrack Inbound allows businesses to monitor deliveries in real-time, while PitneyAnalytics offers a comprehensive view of shipping expenses across multiple locations. Growth in parcel volumes is anticipated, with projections suggesting US parcel volume could reach 30-45 billion by 2027.

Ambi Robotics has secured $32 million in funding, aiming to enhance its AI-powered parcel sorting systems due to rising demand, especially during the holiday season. Existing investors, including Tiger Global and Bow Capital, are joined by Ahren and strategic partner Pitney Bowes (NYSE:PBI). This funding follows a previous $23 million deployment expansion with Pitney Bowes, facilitating more than 80 installations of AmbiSort A-Series systems. The technology promises to boost warehouse efficiency, with each system increasing throughput to over 1,200 items per hour.

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.