Pitney-Bowes (NYSE: PBI) reported Q4 EPS of $0.13, $0.03 better than the analyst estimate of $0.10. Revenue for the quarter came in at $1 billion versus the consensus estimate of $938.7 million.

Fourth Quarter 2020

• Revenue of $1.0 billion, growth of 24 percent on a reported basis and 23 percent excluding the impact of currency
• GAAP EPS of $0.11; Adjusted EPS of $0.13
• EPS reflects $0.03 in tax benefits primarily related to deferred tax balances in certain international tax jurisdictions.
• GAAP cash from operations of $111 million; free cash flow of $97 million
• The Company reduced debt by $31 million.
• Shipping-related revenues represented 54 percent of total revenue.
• Global Ecommerce revenue exceeded $500 million for the first time, representing growth of 60 percent over prior year.
• Global Ecommerce EBIT dollars and margin improved from prior quarter and over prior year, with positive EBITDA in the quarter.
• Presort Services revenue improved from prior quarter and was flat to prior year.
• SendTech grew revenue, EBIT and EBITDA dollars from prior quarter and over prior year.
• SendTech shipping revenue was $35 million and grew at a double-digit rate.

“We have been on a journey to transform the business,” Lautenbach continued. “Even with the tremendous uncertainty in our economy and how the pandemic will play out, we are now poised to enter this next chapter of our transformation, profitable revenue growth. While I am proud of what the team has accomplished, we all recognize there is more work to do and we are ready.”

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