- Pitney Bowes (NYSE:PBI) reports revenue rose 1% in Q1 when adjusted for both the impact of currency and the sale last year of direct operations in 6 smaller European markets.
- EPS was negatively impacted by $0.05 due to higher credit loss provisions to reflect current macro environment conditions.
- During the quarter, the company used cash to reduce total debt by $110M, paid $30M as a premium payment to redeem debt, invested $26M in capital expenditures, made dividend payouts of $9M and made $6M in restructuring payments.
- Pitney Bowes says it's suspending guidance for the current financial year due to the uncertainty around the pandemic.
- Previously: Pitney Bowes EPS misses by $0.02, beats on revenue (May 4)