Pitney Bowes Stock Plunges As Supply Chain Constraints Affect Q4 Earnings

Pitney Bowes Inc PBI reported a fourth-quarter FY21 sales decline of 4.3% year-on-year, to $983.7 million, beating the analyst consensus of $961.63 million.
Global Ecommerce revenue fell 9% Y/Y to $473 million, Presort services increased 16% to $156 million, and SendTech Solutions declined 6% to $354 million.
Total costs and expenses declined 2.8% Y/Y to $982 million. Adjusted EBITDA fell 15% Y/Y to $88.6 million.
Adjusted EPS of $0.06 missed the consensus of $0.11
"Global Ecommerce had a successful peak in terms of service levels with 99 percent of all committed parcels delivered ahead of the holidays; however, supply chain challenges and shifts in consumer buying behavior led to lower volumes, impacting that segment's fourth quarter financial results," said CEO Marc B. Lautenbach.
The company held $747 million in cash and equivalents as of December 31, 2021. Cash provided by operating activities totaled $85.3 million with a free cash flow of $38.7 million.
Outlook: Pitney Bowes expects annual revenue and EBIT to grow over the prior year in the low-to-mid single-digit range.
Price Action: PBI shares are trading lower by 13.3% at $5.34 in premarket on the last check Tuesday.

Momentum96.65

Growth17.03

Quality-

Value34.54

Short

Medium

Long

Earnings Calendar