Pitney Bowes Inc. (NYSE: PBI) reported first quarter 2026 revenue of $477 million, down 3% from $493 million in the prior year period, according to a company press release. The technology company posted net income of $58 million, or $0.39 per diluted share, compared to $35 million, or $0.19 per share, in the first quarter of 2025.

Adjusted earnings per share reached $0.47, up from $0.33 in the year-ago quarter. The company generated $44 million in cash from operations, improving from negative $17 million in the prior year period.

SendTech Solutions revenue declined 1% to $314 million, while adjusted segment EBIT increased 17% to $114 million. The segment faced continued mailing-related declines but saw growth in digital mailing and shipping solutions. Presort Services revenue dropped 8% to $163 million, with adjusted segment EBIT falling 28% to $39 million due to volume reductions and client losses.

The company's board approved a dividend increase to $0.10 per share from $0.09, marking the fifth increase in six quarters. The dividend is payable June 5, 2026 to shareholders of record as of May 18.

Pitney Bowes repurchased 17.2 million shares for $186 million year-to-date through May 1, 2026, including 12.9 million shares for $136 million in the first quarter.

The company reaffirmed its 2026 guidance, projecting revenue between $1.8 billion and $1.86 billion, adjusted EBIT of $425 million to $465 million, and free cash flow of $345 million to $380 million.