Pitney-Bowes (NYSE: PBI) reported Q1 EPS of $0.30, $0.01 better than the analyst estimate of $0.29. Revenue for the quarter came in at $983 million versus the consensus estimate of $930.38 million.

Quarterly Financial Results:

• Revenue of $983 million, an increase of 18 percent as reported and 15 percent at constant currency versus prior year
• GAAP EPS of $0.28; Adjusted EPS of $0.30
• GAAP cash from operations of $83 million; free cash flow of $65 million
• The Company is reaffirming its annual guidance and updating solely to reflect the impact of the definitive agreement for the sale of Production Mail and its supporting software.

2018 Guidance

The Company is reaffirming its annual guidance and updating solely to reflect the impact of the definitive agreement to sell Production Mail and its supporting software. Beginning in the second quarter, Production Mail and its supporting software will be reported as discontinued operations.

• Revenue, on a constant currency basis, is now expected to be in the range of 11 percent to 15 percent growth, when compared to 2017.
• Adjusted EPS is now expected to be in the range of $1.15 to $1.30.
• Free cash flow is now expected to be in the range of $300 million to $350 million.

GUIDANCE:

Pitney-Bowes sees FY2018 EPS of $1.15-$1.30, versus the consensus of $1.45.

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