Shipping and mailing solutions provider Pitney Bowes (NYSE: PBI) will be reporting results this Wednesday afternoon. Here’s what to look for.
Pitney Bowes met analysts’ revenue expectations last quarter, reporting revenues of $477.4 million, down 3.2% year on year. It was a slower quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates and 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 for active Edge members.
This quarter, the market is expecting Pitney Bowes’s revenue to decline 4% year on year, improving from the 5.7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Pitney Bowes has missed Wall Street’s revenue estimates multiple 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 3.9%, beating analysts’ expectations by 1%, and Cintas reported revenues up 8.9%, topping estimates by 1.1%. UniFirst traded up 3.4% following the results while Cintas was also up 11.9%.
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 3.2% on average over the last month. Pitney Bowes’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $17.14 (compared to the current share price of $18.09).
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