Pitney Bowes Announces First Quarter 2020 Financial Results
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Pitney-Bowes (PBI) Misses Q1 EPS by 4c, Revenues Beat; Suspends FY20 Guidance
May 4, 2020 7:05 AM EDTPitney-Bowes (NYSE: PBI) reported Q1 EPS of $0.05, $0.04 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $796 million versus the consensus estimate of $766.85 million.
Financial Overview:
Revenue of $796 million, flat to prior year; growth of 1 percent when adjusted for the impact of currency and market exitsGAAP EPS was a loss of $1.22; Adjusted EPS of $0.05EPS was negatively impacted by $0.05 as a result of the increase in credit loss provisions to reflect current macro-environment conditions in connection with the application of the current expected credit losses (CECL)... More