Pitney-Bowes (NYSE: PBI) reported Q2 EPS of $0.33, $0.03 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $821 million versus the consensus estimate of $822.23 million.

GUIDANCE:

Pitney-Bowes sees FY2017 EPS of $1.70-$1.78, versus the consensus of $1.74.

2017 Guidance

Based on year-to-date results, the Company is narrowing its annual guidance range for revenue, adjusted EPS and free cash flow.

The Company’s guidance for the full year 2017 is now expected to be:

• Revenue, on a constant currency basis, to be in the range of flat to 1 percent growth, when compared to 2016. This has been updated from the original range of a 2 percent decline to 1 percent growth.
• Adjusted EPS to be in the range of $1.70 to $1.78. This has been updated from the original range of $1.70 to $1.85.
• Free cash flow to be in the range of $400 million to $430 million. This has been updated from the original range of $400 million to $460 million.

The Company is also narrowing its annual tax range on adjusted earnings. The Company now expects to be in the range of 31 percent to 33 percent as compared to the original range of 31 percent to 35 percent.

Quarterly Financial Results:

• Revenue of $821 million, a decline of 2 percent as reported and flat at constant currency
• GAAP EPS of $0.26; Adjusted EPS of $0.33
• GAAP cash from operations of $31 million; free cash flow of $18 million
• Issued $400 million of 5 year notes
• Based on year-to-date results, the Company is narrowing its annual guidance range for revenue, adjusted EPS and free cash flow

For earnings history and earnings-related data on Pitney-Bowes (PBI) click here.