Shipping and mailing solutions provider Pitney Bowes (NYSE: PBI) will be reporting results this Wednesday afternoon. Here’s what investors should know.
Pitney Bowes missed analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $493.4 million, down 40.6% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EPS estimates but full-year revenue guidance meeting analysts’ expectations.
Is Pitney Bowes a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Pitney Bowes’s revenue to decline 38.3% year on year to $475.9 million, Adjusted earnings are expected to come in at $0.28 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Pitney Bowes has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Pitney Bowes’s peers in the business services & supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. UniFirst delivered year-on-year revenue growth of 1.2%, missing analysts’ expectations by 0.6%, and Cintas reported revenues up 8%, topping estimates by 1.6%. UniFirst traded down 8.1% following the results while Cintas was up 3.7%.
Read our full analysis of UniFirst’s results here and Cintas’s results here.
There has been positive sentiment among investors in the business services & supplies segment, with share prices up 2.3% on average over the last month. Pitney Bowes is up 11.3% during the same time and is heading into earnings with an average analyst price target of $17 (compared to the current share price of $12.14).
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