Pitney Bowes Sees Flat To Higher Revenues In FY23 - Update

(RTTNews) - Shipping and mailing company Pitney Bowes (PBI), while reporting higher fourth-quarter earnings, Tuesday said it expects flat to mid-single digit percentage revenue growth on a comparable basis in fiscal 2023.

The company also expects percentage EBIT growth to outpace revenue growth as GEC profitability continues to improve.

In its fourth quarter, net income grew to $6.30 million from last year's $1.27 million. Earnings per share were $0.04, higher than $0.01 a year ago.

Adjusted earnings per share were $0.06 in the quarter, same as last year.

On average, three analysts polled by Thomson Reuters expected earnings of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue in the quarter was $908.69 million, a decrease of 8 percent from last year's $983.71 million. Revenue was flat compared to prior year on a comparable basis.

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