Pitney Bowes Inc

Pitney Bowes delivered a clean beat to open fiscal 2026, posting adjusted EPS of $0.47 against a consensus estimate of $0.47 and revenue of $477.41 million, edging the $476.89 million forecast by 0.11%, even as total sales slipped 3.2% year over year amid persistent secular pressure on physical mail volumes. The headline profit improvement was substantial, with GAAP net income climbing 64% to $58.14 million and adjusted EPS rising 42% from $0.33 a year ago, driven largely by SendTech Solutions, where a $14.00 million reduction in operating expenses lifted Adjusted Segment EBIT 17% to $113.53 million despite a 1% revenue dip. Free cash flow swung sharply positive to $43.51 million from negative $20.46 million in the prior-year period, underscoring improving operational discipline. The company reaffirmed full-year 2026 guidance calling for revenue of $1.80 billion to $1.86 billion, Adjusted EPS of $1.50 to $1.65, and free cash flow of $345.00 million to $380.00 million, with management projecting Presort volumes to turn positive year over year by early Q3, adding further confidence to the outlook. The stock had already touched a 52-week high ahead of the print, reflecting growing investor conviction in the turnaround thesis.