Pitney Bowes reports preliminary Q1 adjusted EPS 47c, consensus 37c

Reports preliminary revenue $477M, consensus $460.67M. Kurt Wolf, CEO and Director, commented: “We delivered strong financial results in the first quarter thanks to exceptional execution across the organization. Our performance reflects broad-based revenue strength in SendTech, competitive wins in Presort, and continued cost management throughout all of our functional areas and business units. Our robust start to the year, combined with improving sales trends and share repurchases, has given us the confidence to raise our full-year guidance across all financial metrics. Our strong results and improving outlook are a testament to the dedication of the Pitney Bowes (PBI) employee base. Their hard work has enabled us to build momentum as we pivot to pursuing profitable growth.”