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EX - 99.1 2 a52420814ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 Pitney Bowes Announces First Quarter 2021 Financial Results STAMFORD , Conn .-- ( BUSINESS WIRE ) -- April 30 , 2021 -- Pitney Bowes Inc. ( NYSE : PBI ) , a global technology company that provides commerce solutions in the areas of ecommerce , shipping , mailing and financial services , today announced its financial results for the first quarter 2021 . " We delivered a solid start to the year , with every business making a meaningful contribution to our first quarter results , ” said Marc B. Lautenbach , President and CEO , Pitney Bowes . " Revenue continued to demonstrate strong growth , every business improved its EBIT performance from prior year , and we strengthened our balance sheet . As we enter the final chapter of our transformation , we are well- positioned to reach our ultimate goal of achieving improved profitable revenue growth . " First Quarter 2021 • • • • Revenue of $ 915 million , growth of 15 percent on a reported basis and 14 percent excluding the impact of currency GAAP EPS of ( $ 0.18 ) , which includes a loss related to debt refinancing Adjusted EPS of $ 0.07 EPS reflects a $ 0.02 tax benefit associated with an affiliate reorganization . • GAAP cash from operations of $ 66 million ; free cash flow net use of $ 1 million . • • • The Company reduced debt by $ 126 million from year - end 2020 and took several actions to refine its capital structure which reduced near - term refinancing risk , improved pricing of its Term Loan B and extended the duration of maturities across its capital structure . Global Ecommerce grew revenue 41 percent on a reported basis and 40 percent excluding the impact of currency ; EBIT margins and EBITDA margins improved over prior year . Presort Services grew revenue , EBIT margins and EBITDA margins over prior year . SendTech EBIT margins and EBITDA margins improved over prior year , which is the second consecutive quarter of EBIT and EBITDA year - over - year dollar growth .