Pitney Bowes Announces Second Quarter 2018 Financial Results

Global Ecommerce

Results for 2018 include a full quarter of Newgistics. On a proforma basis, Newgistics delivered 10 percent revenue growth, which was driven by strong performance in both parcel and fulfillment revenue. Excluding Newgistics, the segment continued to generate double-digit revenue growth, which was driven by strong performance in domestic shipping volumes.

The EBIT loss was driven primarily by investments in market growth opportunities, operational excellence initiatives and higher transportation and labor costs, as well as the amortization of acquisition-related intangible assets. EBITDA improved from prior year as a result of the higher revenue.

Presort Services

Revenue growth was driven by higher volumes of First Class mail but partly offset by lower Standard Class mail volumes processed. Revenue was also impacted by lower revenue per piece, in part driven by higher volumes of mail processed from larger clients. EBIT and EBITDA margin declined from prior year primarily due to higher labor and transportation costs along with the lower revenue per piece.

     

SMB Solutions

($ millions) Second Quarter
Revenue

2018

   

2017

   

Y/Y

Reported

   

Y/Y

Ex Currency

North America Mailing $315 $341 (8%) (8%)
International Mailing

93

95

(2%)

(7%)

SMB Solutions $408 $436 (7%) (8%)
 
EBIT
North America Mailing $115 $121 (5%)
International Mailing

13

14

(6%)

SMB Solutions $128 $135 (5%)
 
EBITDA
North America Mailing $133 $137 (3%)
International Mailing

17

18

(5%)

SMB Solutions $150 $156 (4%)
 

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