Pitney Bowes' stock jumps on higher cost-savings target [Seeking Alpha]
Pitney Bowes Inc. (PBI)
Last pitney bowes inc. earnings: 2/4 07:00 am
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US:NYSE Investor Relations:
investorrelations.pitneybowes.com
Company Research
Source: Seeking Alpha
The company said it already had eliminated about $70 million in costs and that the new target will be mostly seen in pretax earnings for the second half of 2024 and in 2025. It has focused on general corporate cost cuts and foresees additional savings in its global e-commerce segment, which is in the final stages of a strategic review. “Since announcing our strategic initiatives in late May, new leadership has been operating with intensity and urgency to accelerate the turnaround of Pitney Bowes,” Interim Chief Executive Lance Rosenzweig said in a statement. Activist shareholder Hestia Capital has pushed for change at Pitney Bowes ( PBI ). In January, Hestia nominated seven people to the company's board of directors, after building a 7.2% stake in the company. The board had “failed to address a decade of dismal returns, driven by misguided strategy, failed execution and missed opportunities," Hestia said at the time. Recommended For You More Trending News Recommended Fo
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PBI
News
- Pitney Bowes Announces Leadership Transition in Global Ecommerce Segment [Yahoo! Finance]Yahoo! Finance
- Pitney Bowes Announces Leadership Transition in Global Ecommerce SegmentBusiness Wire
- Pitney Bowes Provides Update on Accelerated Progress of Cost Rationalization Program and Increases Savings Targets [Yahoo! Finance]Yahoo! Finance
- Pitney Bowes Provides Update on Accelerated Progress of Cost Rationalization Program and Increases Savings TargetsBusiness Wire
- Down -11.43% in 4 Weeks, Here's Why Pitney Bowes (PBI) Looks Ripe for a Turnaround [Yahoo! Finance]Yahoo! Finance
PBI
Earnings
- 5/2/24 - Beat
PBI
Sec Filings
- 7/2/24 - Form 8-K
- 5/28/24 - Form 4
- 5/28/24 - Form 4
- PBI's page on the SEC website