Pitney Bowes said first-quarter 2026 revenue was about $477 million, down from $493 million a year earlier, but the decline narrowed to 3% from a 5% drop in the first quarter of 2025 and a 7% decline in the prior quarter.
Adjusted EBIT rose to about $130 million from $120 million in the year-ago period, while adjusted EPS increased to approximately $0.47 from $0.33.
Free cash flow improved sharply to about $44 million from a $20 million cash outflow in the first quarter of 2025.
Based on the stronger start to the year, the company lifted its full-year 2026 guidance. Revenue guidance moved to $1.80 billion to $1.86 billion from a prior range of $1.76 billion to $1.86 billion. Adjusted EBIT guidance increased to $425 million to $465 million from $410 million to $460 million. Adjusted EPS guidance rose to $1.50 to $1.65 from $1.40 to $1.60. Free cash flow guidance was raised to $345 million to $380 million from $340 million to $370 million.
Pitney Bowes also said the updated outlook reflects a change in how it treats pension-related costs in guidance. The company said the revised figures now include about $15.4 million in pension-related costs in adjusted EBIT and $0.08 in post-tax pension-related costs in adjusted EPS. As a result of these announcements, the company's shares have moved 0.37% on the market, and are now trading at a price of $10.95. If you want to know more, read the company's complete 8-K report here.
