Slide 1: Pitney Bowes First Quarter Earnings
Pitney Bowes First Quarter Earnings May 7, 2025
Slide 2: Forward-Looking Statements and Financial Presentation
Forward-Looking Statements and Financial Presentation This document contains “forward-looking statements” about the Company’s expected or potential future business and financial performance, including, but not limited to, statements about future revenue and earnings guidance, future events or condit
Slide 3: Use of Non-GAAP Measures
Use of Non-GAAP Measures Adjusted Segment EBIT Adjusted Segment EBIT is the primary measure of profitability and operational performance at the segment level. Adjusted Segment EBIT includes segment revenues and related costs and expenses attributable to the segment, but excludes interest, taxes, res
Slide 4: Business Overview and Financial Results
Business Overview and Financial Results 4
Slide 5: First Quarter – Overview
First Quarter – Overview ▪ Revenue was $493 million, down 5% year-over-year and in line with previously disclosed expectations for this point in the Company’s product lifecycle ▪ GAAP EPS was $0.19, an improvement of $0.21 year over year ▪ Adjusted EPS was $0.33, an improvement of $0.14 or 74% year
Slide 6: First Quarter – Results vs. Prior Year
First Quarter – Results vs. Prior Year $ millions Gross SG&A as % of R&D as a % of Adj EBIT (5%) Growth Y/Y Margin Revenue Revenue Margin Q1 2025: 57.3% Q1 2025: 33.6% Q1 2025: 1.0% Q1 2025: 24.3% Q1 2024: 55.5% Q1 2024: 35.8% Q1 2024: 1.5% Q1 2024: 17.9% $521 $493 $283 $289 $166 $187 $120 $93 $5 $8
Slide 7: First Quarter – SendTech Solutions
First Quarter – SendTech Solutions SendTech Solutions offers physical and digital shipping and mailing technology solutions, financing, services, supplies and other applications for small and medium businesses, retail, enterprise, and government clients around the world to help simplify and save on
Slide 8: Global Financial Services within SendTech
Global Financial Services within SendTech Global Financial Services ▪ Net finance receivables ended the quarter at $1.15 billion, up slightly from year-end ▪ Portfolio quality remained very stable with relatively low levels of delinquencies and write-offs ▪ Bank deposits were $701 million, down seas
Slide 9: First Quarter – Presort Services
First Quarter – Presort Services Presort Services provides sortation services that enable clients to qualify for USPS workshare discounts in First Class Mail, Marketing Mail, Marketing Mail Flats and Bound Printed Matter. ($ millions) Q1 2025 Q1 2024 % Change Reported Revenue $178 $170 5% Adjusted S
Slide 10: Strategic Initiatives and Progress
Strategic Initiatives and Progress 10
Slide 11: Key Strategic Updates
Key Strategic Updates Returning Capital to Disciplined Capital Allocation Shareholders Strategy Pitney Bowes Bank Receivables Purchase Cost Reduction Program 11
Slide 12: Progress on Key Strategic Updates
Progress on Key Strategic Updates Returning Capital to Shareholders Disciplined Capital Allocation Strategy For the second consecutive quarter, the Company is increasing its quarterly The Company will continue to pursue a disciplined capital allocation dividend by $0.01, from $0.06 to $0.07. The Boa
Slide 13: Guidance and Outlook
Guidance and Outlook 13
Slide 14: Full Year 2025 Guidance
Full Year 2025 Guidance Guidance Pitney Bowes reaffirms full-year guidance. Full-year guidance is as follows: $ millions, except EPS Low High Revenue $1,950 $2,000 Adjusted EBIT $450 $480 Adjusted EPS $1.10 $1.30 Free Cash Flow $330 $370 14
Slide 15: Appendix
Appendix 15
Slide 16: First Quarter 2025 – Debt Profile
First Quarter 2025 – Debt Profile Total debt consisted of the following: ($ Millions) Interest Rate 3/31/2025 12/31/2024 Term loan due March 2026 SOFR + 2.25% - $ 235,000 Notes due March 2027 6.875% 372,500 380,000 Notes due March 2028 SOFR + 6.9% - 96,563 Term loan due March 2028 SOFR + 4.0% - 433,
Slide 17: Appendix: Consolidated Statement of Operations
Appendix: Financial Information Pitney Bowe s Inc. Consolidated State ment of Operations (Unaudited, in thousands, except per share amounts) Three months ended March 31 2025 2024 Revenue: Services $ 318,432 $ 322,690 Products 93,190 114,124 Financing and Other 81,798 84,455 Total revenue 493,420 521
Slide 18: Appendix: Consolidated Balance Sheets
Appendix: Financial Information Pitney Bowe s Inc. Consolidated Ba lance Sheets (Unaudited, in thousands) Assets March 31, 2025 December 31, 2024 Current assets: Cash and cash equivalents $ 323,787 $ 469,726 Short-term investments 16,175 16,374 Accounts and other receivables, net 160,284 159,951 Sho
Slide 19: Appendix: Business Segment Revenue
Appendix: Financial Information Pitney Bowe s Inc. Bus iness Segme nt Revenue (Unaudited, in thousands) Three months ended March 31 2025 2024 % Change Sending Technology Solutions $ 298,055 $ 327,437 (9%) Presort Services 177,814 169,807 5% Total reportable segments 475,869 497,244 (4%) Other operat
Slide 20: Appendix: Adjusted Segment EBIT & EBITDA
Appendix: Financial Information Pitney Bowe s Inc. Adjusted Segment EBIT & EBITDA (Unaudited, in thousands) Three months ended March 31 2025 2024 % change Adjusted Adjusted Segment Adjusted Adjusted Adjusted Adjusted Segment EBIT (1) D&A EBITDA Segment EBIT (1) D&A Segment EBITDA Segment EBIT Segmen
Slide 21: Appendix: Reconciliation of Reported to Adjusted Results
Appendix: Financial Information Pitney Bowe s Inc. Reconc iliation of Reported Consolida ted Results to Adjusted Res ults (Unaudited, in thousands, except per share amounts) Three months ended March 31 2025 2024 Reconciliation of r eported net income (loss) to adjusted EBIT and adjusted EBITDA Net i
Slide 22: Thank You
Thank You 22