Pitney Bowes (NYSE: PBI ) reported earnings on April 30. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Pitney Bowes missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share shrank significantly. GAAP earnings per share contracted significantly.
Margins dropped across the board.
Pitney Bowes logged revenue of $1.17 billion. The three analysts polled by S&P Capital IQ expected sales of $1.21 billion on the same basis. GAAP reported sales were 7.1% lower than the prior-year quarter's $1.26 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.42. The four earnings estimates compiled by S&P Capital IQ predicted $0.45 per share. Non-GAAP EPS of $0.42 for Q1 were 19% lower than the prior-year quarter's $0.52 per share. (The prior-year quarter included $0.10 per share in earnings from discontinued operations.) GAAP EPS of $0.33 for Q1 were 58% lower than the prior-year quarter's $0.79 per share. (The prior-year quarter included $0.10 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 48.5%, 150 basis points worse than the prior-year quarter. Operating margin was 13.4%, 120 basis points worse than the prior-year quarter. Net margin was 5.8%, 680 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.21 billion. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $4.88 billion. The average EPS estimate is $1.94.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 310 members out of 370 rating the stock outperform, and 60 members rating it underperform. Among 111 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 101 give Pitney Bowes a green thumbs-up, and 10 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Pitney Bowes is outperform, with an average price target of $15.80.
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