Pitney Bowes (PBI)

Pitney Bowes (NYSEPBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced it has been named the Official Shipping Technology Partner of the New York Islanders and UBS Arena. This multi-faceted partnership underscores Pitney Bowes' commitment to innovation and operational excellence, leveraging its ShipAccel solution to enhance the shipping operations of the New York Islanders and UBS Arena.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, announced that today it is paying off the remaining balance of approximately $97 million in senior secured notes (“2028 Notes”) issued to Oaktree Capital Management, L.P. (collectively with its affiliates, “Oaktree”) in July 2023. The repayment, which is being funded by cash on hand, is part of the Company’s previously announced strategic initiative to deleverage its balance sheet. Retiring the 2028 Notes positions Pitney Bowes to benefit from increased capital allocation flexibility as it continues to evaluate value-enhancing actions.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has acquired the presort business of Royal Alliances, Inc. (“Royal Alliances” or “RA”), a provider of technology-enabled shipping and mailing solutions, headquartered in Irving, Texas. This acquisition further strengthens the Pitney Bowes Presort Services network in the East, Central and West Regions.

Hestia Capital Management, LLC (collectively with its affiliates, “Hestia” or “we”), a large shareholder of Pitney Bowes, Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), today provided additional detail on its Managing Member’s 10b5-1 Plan (the “Plan”) at the Company. Hestia’s Managing Member, Kurt Wolf, has served on Pitney Bowes’ Board of Directors since 2023 and intends to be a long-serving director and shareholder. Mr. Wolf recently put in place a Plan that is structurally similar to ones established by directors, including those who run investment management firms, at other public companies.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has repaid $100 million of the $275 million in senior secured notes (“2028 Notes”) issued by Oaktree Capital Management, L.P. (“Oaktree”), the balance of which was $272 million as of September 30, 2024. The partial payment of the 2028 Notes is part of the Company’s previously announced strategic initiative to deleverage its balance sheet. The repayment was funded by cash on hand.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it has reached an agreement in principle (the “Agreement in Principle”) with DRF Logistics LLC (“DRF”) (f/k/a the Global Ecommerce segment) to resolve ongoing disputes with the official committee of unsecured creditors (the “Committee”). The Committee is tasked with representing the interests of all creditors asserting unsecured claims against DRF and its affiliated debtor.

Pitney Bowes Inc. (NYSEPBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today provided supplemental detail around guidance for the fourth quarter of 2024, long-term revenue considerations, and debt reduction and refinancing efforts.

Pitney Bowes (NYSEPBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world—including more than 90 percent of the Fortune 500, today announced that its Board of Directors has declared a quarterly cash dividend on the company’s common stock of $0.05 per share. The dividend will be paid on December 6, 2024 to stockholders of record on November 18, 2024.

Pitney Bowes Inc. (NYSEPBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced the Company’s financial results for the third quarter of fiscal year 2024 and provided a progress update on the strategic initiatives announced on May 22, 2024. The Company also updated its full year guidance for Fiscal Year 2024 following continued strong business performance and accelerated execution of cost initiatives.

Pitney Bowes (NYSEPBI), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world—including more than 90 percent of the Fortune 500, today announced a new program with FedEx, which will offer a FedEx Platform Account to Pitney Bowes customers. Through the FedEx Platform Account, Pitney Bowes customers can access discounted FedEx rates and expanded service options through their multicarrier shipping software, including ShipAccel, powered by Pitney Bowes, without the need for a FedEx shipping account.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced the appointment of Lance Rosenzweig as the Company’s permanent Chief Executive Officer (“CEO”), effective immediately.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the world, today announced that it will report third quarter 2024 earnings results after market close on Thursday, November 7, 2024.

Pitney Bowes (NYSEPBI), a global shipping and mailing company, today announced the launch of ShipAccel, a digital platform designed to simplify and enhance shipping operations with advanced ecommerce technology. This launch reinforces Pitney Bowes’ offerings in the ecommerce market, now aimed at equipping shippers with technology that addresses their evolving needs.

Pitney Bowes Inc. (NYSEPBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company’s common stock of $0.05 per share. The dividend will be paid on September 6, 2024 to stockholders of record on August 22, 2024.

Pitney Bowes (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the Company’s financial results for the second quarter of fiscal year 2024 and provided a progress update on the strategic initiatives announced on May 22, 2024, including the conclusion of the strategic review of the Global Ecommerce (“GEC”) segment. The Company also disclosed its updated full year guidance for Fiscal Year 2024 following recent value-enhancing actions and strong first-half performance.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, today announced that it has sold a controlling interest in the entities representing a substantial majority of the Global Ecommerce (“GEC”) segment (the “GEC Entities”) operating in the U.S. to Hilco Commercial Industrial, an affiliate of Hilco Global (“Hilco”), to support a value-maximizing liquidation of certain of the GEC Entities under the protection of Chapter 11 of the U.S. Bankruptcy Code. This sale of the controlling interest occurred on August 8, 2024. Hilco is a recognized leader in helping companies maximize the value of their assets and has worked with numerous organizations to wind-down operations in an efficient, responsible manner.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, today announced that it will report second quarter 2024 earnings results after market close on Thursday, August 8, 2024.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, today announced that Gregg Zegras has retired as President of the Company’s Global Ecommerce segment, effective immediately. After joining Pitney Bowes in 2013, Mr. Zegras served as Chief Commercial Officer and held other senior roles. The Company thanks Mr. Zegras for his many years of dedication and service and wishes him the best in his future endeavors.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, today announced an update on the first phase of the Company’s cost rationalization initiative, which was previously announced in late May 2024.

Pitney Bowes Inc. (NYSEPBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced the opening of a new 45,000 square foot Presort Services operating center serving the St. Louis, MO market. The new highly automated facility, located at 13955 Riverport Place, Maryland Heights, MO processed nearly 100,000 pieces of mail on its inaugural day, with volumes steadily increasing throughout this summer. Currently, the site processes up to 1.2 million mail pieces a day.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, will host an investor conference call at 8:00 AM ET on Wednesday, May 29, to introduce the Company’s newly appointed interim CEO, Lance Rosenzweig, and discuss its recently announced strategic initiatives. Participants can register for the call by visiting https://dpregister.com/sreg/10189641/fc9e9eeb70.

Pitney Bowes Inc. (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, today announced the appointment of Lance Rosenzweig as the Company’s interim Chief Executive Officer (“CEO”), effective immediately. Mr. Rosenzweig will continue to serve as a member of the Board of Directors (the “Board”). In connection with today’s appointment, Jason Dies has stepped down from the role of interim CEO and retired from the Company following years of valued service in various executive roles. Pitney Bowes thanks Mr. Dies for his strong contributions and leadership.

Pitney Bowes Inc. (NYSEPBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced that its Board of Directors has declared a quarterly cash dividend on the company’s common stock of $0.05 per share. The dividend will be paid on June 7, 2024 to stockholders of record on May 23, 2024.

Pitney Bowes (NYSEPBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics, and financial services, today announced its financial results for the first quarter 2024.

Pitney Bowes (NYSEPBI), a global shipping and mailing company that provides technology, logistics, and financial services, today announced it has been named to Forbes’ Best Employers for Diversity 2024 list for the sixth consecutive year. In collaboration with analytics firm Statista, Forbes identified the Best Employers for Diversity 2024 through an independent survey of over 170,000 U.S.-based employees working for companies employing at least 1,000 people within the U.S.