Pitney Bowes Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 01, 2024 at 07:00 am EST
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Pitney Bowes Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 16.68 million compared to USD 16.45 million a year ago. Revenue was USD 871.58 million compared to USD 908.69 million a year ago. Net loss was USD 223.84 million compared to net income of USD 6.3 million a year ago. Basic loss per share from continuing operations was USD 1.27 compared to basic earnings per share from continuing operations of USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 1.27 compared to diluted earnings per share from continuing operations of USD 0.04 a year ago.
For the full year, sales was USD 67.9 million compared to USD 66.26 million a year ago. Revenue was USD 3,266.35 million compared to USD 3,538.04 million a year ago. Net loss was USD 385.63 million compared to net income of USD 36.94 million a year ago. Basic loss per share from continuing operations was USD 2.2 compared to basic earnings per share from continuing operations of USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 2.2 compared to diluted earnings per share from continuing operations of USD 0.21 a year ago.
Pitney Bowes Inc. is a shipping and mailing company. The Company provides technology, logistics, and financial services to small and medium sized businesses, large enterprises, retailers, and government clients. Its segments include Global Ecommerce, Presort Services and SendTech Solutions. The Global Ecommerce segment offers domestic parcel services, cross-border solutions, and digital delivery services. Its domestic parcel services offer retailers a parcel delivery and returns network for end consumers. The Presort Services segment offers national outsource provider of mail sortation services that allow clients to qualify large volumes of first-class mail, marketing mail and marketing mail flats and bound printed matter for postal workshare discounts. Its SendTech Solutions segment offer clients with physical and digital mailing and shipping technology solutions and other applications to help simplify and save on the sending, tracking, and receiving of letters, parcels, and flats.