Pitney Bowes (PBI) reported earnings on Wed 1 May 2019 (b/o)

** charts after earnings **

 

Pitney Bowes misses by $0.09, reports revs in-line; guides FY19 EPS below consensus

• Reports Q1 (Mar) earnings of $0.12 per share, excluding non-recurring items, $0.09 worse than the S&P Capital IQ Consensus of $0.21; revenues fell 3.1% year/year to $868.4 mln vs the $866.04 mln S&P Capital IQ Consensus.
• Co issues downside guidance for FY19, sees EPS of $0.90-1.05, excluding non-recurring items, vs. $1.11 S&P Capital IQ Consensus. Revenue, on a constant currency (CC) basis, to be in the range of 1 percent to 3 percent growth when compared to 2018 vs. prior guidance of 1 percent to 4 percent growth.
  • Free cash flow to be in the range of $200 million to $250 million vs. prior guidance of $225 million to $275 million. Free cash flow guidance includes the funding of third party financing initiatives.