Pitney Bowes Inc.PBI is one of the largest providers of mail processing equipment and integrated mail solutions across the world. It offers a full suite of equipment, supplies, software and services for end-to-end mainstream solutions, which enables its customers to optimize the flow of physical and electronic mail, documents and packages across their operations.
PBI's restructuring activities started, aimed at stabilizing its mail business, growing digital commerce and improving operational excellence, will likely contribute to its financial performance going forward. The company's Digital Commerce Solutions ("DCS") remains one of its major strengths and has been driving the company's performance over the past few quarters.
However, softness in the international mailing operations is acting as a major challenge for Pitney Bowes over the last few quarters. Moreover, strong currency headwinds and uncertainties in global macroeconomic environment add to the company's woes.
In the last four trailing quarters, PBI has reported a positive average earnings surprise of 2.68%.
Currently, PBI has a Zacks Rank#4 (Sell) but that could change following its third-quarter 2015 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below
Earnings : For the third quarter, adjusted earnings per share of 43 cents surpassed the Zacks Consensus Estimate of 42 cents.
Revenue : Revenues came in at $869.5 million, which decreased 4% on a constant currency basis year over year.
Key Stats : The company invested significant amount in product launches and introduced products like Relay Multi-Channel Communications Suite in the SMB business and AcceleJet, Epic and TrueSort products in production mail business. PBI also repurchased 4.9 million shares worth $100 million during the quarter.
Stock Price : Shares prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this PBI earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report