Consensus $1.25. Pitney Bowes (PBI) has updated its full-year revenue guidance, from a $1.95B-$2B range to a $1.9B-$1.95B range, consensus $1.97B. “This update, which is almost entirely attributable to Presort, stems from previously overemphasizing EBIT margins at the expense of winning and retaining certain Presort clients, which would have been profitable at lower margins. New management has reversed former management’s policy to ensure Presort can leverage its strength and scale as the market leader under Debbie Pfeiffer. The Company also has raised its Adjusted EPS guidance from $1.10 to $1.30 range to a $1.20 to $1.40 range. The Company has tightened its Adjusted EBIT guidance by lowering the top end of the range and reaffirms its previously disclosed full-year guidance for Free Cash Flow,” the company stated.
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