Pitney-Bowes (NYSE: PBI) reported Q2 EPS of $0.04, $0.05 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $837 million versus the consensus estimate of $705.82 million.

Financial Overview:

• Revenue of $837 million, growth of 6 percent as reported and 7 percent when adjusted for the impact of currency
• GAAP EPS loss of $0.02; Adjusted EPS of $0.04
• GAAP cash from operations of $153 million; free cash flow of $148 million.
• Given the continued uncertainty around Covid-19 and consistent with direction from the last quarter, the Company has suspended its 2020 annual guidance.

“I want to acknowledge and thank all of the essential workers, including the Pitney Bowes team, for their dedication to their work in what is an unprecedented time. And, likewise, our hearts go out to all who lost loved ones to this virus,” said Marc B. Lautenbach, CEO and President, Pitney Bowes.

“It is times like these that test the resilience of our business,” Lautenbach continued. “We are fortunate to have taken significant actions over the past several years to move into shipping and invest in our digital capabilities, which now enables us to leverage the benefits of a more agile, flexible and contemporary business. We have momentum and are well positioned to emerge from this time as a better and stronger Company.”

2020 Guidance

Given the continued level of uncertainty around the depth and duration of Covid-19, and consistent with direction provided last quarter, the Company has suspended its 2020 annual guidance.

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