Companies

Pitney Bowes Inc

NYSE: PBI
$17.70
▲ $0.59 (+3.45%) today
Markets open · 3:24pm ET

Q3 2025 Earnings

Reported Oct 29, 2025, 4:14pm ET · SEC source
$0.31
Miss −3.13%
EPS · est. $0.32
$459.7M
Miss −1.66%
Revenue · est. $467.4M
−5.5%
Trailing market
PBI vs S&P since report
3 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−10%−5%0+5%Oct 29Oct 30report 4:14pm ETearnings−0.7%−10.5%
−10%−5%0+5%Oct 29Oct 30earnings−0.7%−10.5%
PBI −10.5%S&P 500 −0.7%
−10%−5%0+5%Oct 29Oct 30report 4:14pm ETearnings−0.9%−10.5%
−10%−5%0+5%Oct 29Oct 30earnings−0.9%−10.5%
PBI −10.5%NASDAQ −0.9%
−14%−7%0+7%Oct 28Nov 6report 4:14pm ETearnings−2.1%−16.3%
−14%−7%0+7%Oct 28Nov 6earnings−2.1%−16.3%
PBI −16.3%S&P 500 −2.1%
−14%−7%0+7%Oct 28Nov 6report 4:14pm ETearnings−3.4%−16.3%
−14%−7%0+7%Oct 28Nov 6earnings−3.4%−16.3%
PBI −16.3%NASDAQ −3.4%
−10.53%
Day of report
−1.50%
Next session
−6.58%
One week
−5.28%
30 days

S&P 500 over the same 30 days: +0.25%.

Did PBI Beat Earnings? Q3 2025 Results

Pitney Bowes delivered a mixed third quarter, falling short on both top and bottom lines as the company's turnaround under CEO Kurt Wolf remains a work in progress. Revenue declined 8.0% year over year to $459.68 million, missing the $467.44 million consensus by 1.66%, while adjusted EPS of $0.31 came in just below the $0.32 estimate. The shortfall was most visible in Presort Services, where a lag effect from a large 2024 USPS workshare discount increase, compounded by prior management's rigid pricing approach, pushed segment revenue down 11% to $148.89 million. Still, the broader profitability story showed genuine progress, with GAAP EPS swinging to $0.30 from a loss of $0.75 a year earlier and adjusted EBIT rising to $107.33 million. Management trimmed full-year guidance toward the low end of prior revenue and free cash flow ranges, citing a flawed forecasting model Wolf is personally rebuilding, though adjusted EPS is still expected near the midpoint of the $1.20 to $1.40 range. With the company approaching its ex-dividend date and having raised its quarterly payout for the fourth consecutive quarter to $0.09 per share, investor focus is sharpening on whether cost discipline can offset the stubborn top-line pressure.

Key Takeaways
  • SendTech revenue decline driven by prior year product migration impact and decrease in mailing install base
  • Presort revenue decline driven by client losses tied to prior rigid pricing strategy and broader market decline
  • Presort margin compression from July 2024 USPS workshare discount increase creating more competitive pricing environment
  • Adjusted EBIT improvement driven by continued cost discipline and cost reduction initiatives
  • GAAP EPS improvement of $1.06 YoY primarily due to absence of prior year discontinued operations losses and restructuring charges

“In closing, I want to reiterate my optimism about the future of Pitney Bowes. By making difficult choices and facing challenges head-on today, we are laying the groundwork for profitable growth and sustained cash generation for the long term. Under my leadership, we continue to move toward a leaner, more disciplined company that is focused on profitable growth. Much brighter days are ahead for Pitney Bowes.”

Pitney Bowes CEO, on the earnings call

Forward Guidance & Outlook

Pitney Bowes now expects to achieve near the low end of previously disclosed guidance ranges for Revenue ($1,900M-$1,950M), Adjusted EBIT ($450M-$465M), and Free Cash Flow ($330M-$370M). The company expects Adjusted EPS near the midpoint of its $1.20-$1.40 range. The slight downward adjustment is attributed to a historically flawed forecasting model being rebuilt, plus one-time headwinds from a government shutdown and executive severance costs. The company has identified $50M-$60M in additional annual cost savings, the vast majority expected to be realized by year-end 2025. Management expects to retire 2027 Notes at par when callable in March 2026 without issuing additional debt.

PBI YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$200.0M$400.0M$499.5M$459.7MRevenue$261.5M$244.3MGross Profit$63.9M$68.1MOperating Income$80.4M$52.0MNet Income
$0$200.0M$400.0MRevenueGross ProfitOperating IncomeNet Income

PBI Revenue by Segment

SendTech Solutions$310.8M−6.0%
Presort Services$148.9M−11.0%
Other operations

Figures from SEC filings and company reports. Not investment advice.