PITNEY BOWES INC /DE/

For the period ended Sep 30, 2026. Filed Oct 29, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Oct 29, 2026

PBI$15.40-1.0%Stored close · as of Nov 9, 2026

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Contents

Item 1. : Financial Statements

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited; in thousands, except per share amounts)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Revenue:
Services	$288,033	$289,476	$879,120	$898,331
Products	90,257	89,712	266,430	273,782
Financing and other	77,892	80,487	239,543	242,891
Total revenue	456,182	459,675	1,385,093	1,415,004
Costs and expenses:
Cost of services	149,439	146,394	460,950	446,507
Cost of products	47,689	54,294	137,811	159,700
Cost of financing and other	11,746	14,708	36,965	47,871
Selling, general and administrative	139,201	144,154	401,324	480,611
Research and development	3,383	3,409	10,560	11,773
Restructuring charges	1,529	1,836	9,978	17,042
Interest expense, net	25,984	26,072	80,556	75,279
Other components of net pension and postretirement cost	10,274	1,645	33,564	5,446
Other (income) expense	(3,155)	(981)	(2,672)	16,628
Total costs and expenses	386,090	391,531	1,169,036	1,260,857
Income before taxes	70,092	68,144	216,057	154,147
Provision for income taxes	17,426	16,181	55,345	36,787
Net income	$52,666	$51,963	$160,712	$117,360
Basic net income per share	$0.39	$0.31	$1.14	$0.66
Diluted net income per share	$0.37	$0.30	$1.12	$0.66

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited; in thousands)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Net income	$52,666	$51,963	$160,712	$117,360
Other comprehensive (loss) income, net of tax:
Foreign currency translation, net of tax of $(21), $66, $(43) and $399, respectively	(1,076)	(8,522)	(16,462)	52,486
Net unrealized (loss) gain on investment securities, net of tax of $(1,561), $741, $(1,637) and $1,903, respectively	(4,917)	2,361	(5,156)	6,059
Amortization of pension and postretirement costs, net of tax of $2,129, $1,674, $7,041 and $5,039, respectively	6,438	5,083	20,769	15,272
Other comprehensive (loss) income, net of tax	445	(1,078)	(849)	73,817
Comprehensive income	$53,111	$50,885	$159,863	$191,177

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited; in thousands, except per share amount)

	September 30, 2026	December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents (includes $18,384 and $38,851, respectively, reported at fair value)	$268,514	$284,887
Short-term investments (includes $1,672 and $1,715, respectively, reported at fair value)	12,661	12,232
Accounts and other receivables (net of allowance of $6,592 and $7,507, respectively)	162,171	168,099
Short-term finance receivables (net of allowance of $10,676 and $14,206, respectively)	461,910	496,446
Inventories	63,022	66,241
Current income taxes	2,422	3,143
Other current assets and prepayments (net of allowance of $10,466 in both 2026 and 2025)	74,172	69,451
Total current assets	1,044,872	1,100,499
Property, plant and equipment, net	171,932	185,913
Rental property and equipment, net	21,959	24,054
Long-term finance receivables (net of allowance of $5,642 and $4,370 respectively)	533,191	605,129
Goodwill	739,193	746,687
Intangible assets, net	12,039	14,741
Operating lease assets	97,168	106,996
Noncurrent income taxes	98,131	95,412
Other assets (includes $172,662 and $185,111, respectively, reported at fair value)	273,795	289,520
Total assets	$2,992,280	$3,168,951
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable and accrued liabilities	$796,213	$845,378
Customer deposits at Pitney Bowes Bank	576,949	582,630
Current operating lease liabilities	29,725	28,396
Current portion of long-term debt	24,730	17,150
Advance billings	66,928	69,075
Current income taxes	2,795	5,210
Total current liabilities	1,497,340	1,547,839
Long-term debt	1,862,691	1,975,888
Deferred taxes on income	111,879	72,665
Tax uncertainties and other income tax liabilities	60	278
Noncurrent operating lease liabilities	87,595	99,757
Noncurrent customer deposits at Pitney Bowes Bank	71,000	71,000
Other noncurrent liabilities	198,452	203,884
Total liabilities	3,829,017	3,971,311
Commitments and contingencies (See Note 13)
Stockholders’ deficit:
Common stock, $1 par value (480,000 shares authorized; 270,338 shares issued)	270,338	270,338
Retained earnings	2,739,946	2,655,703
Accumulated other comprehensive loss	(789,981)	(789,132)
Treasury stock, at cost (134,220 and 119,634 shares, respectively)	(3,057,040)	(2,939,269)
Total stockholders’ deficit	(836,737)	(802,360)
Total liabilities and stockholders’ deficit	$2,992,280	$3,168,951

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited; in thousands)

	Nine Months Ended September 30,
	2026	2025
Cash flows from operating activities:
Net income	$160,712	$117,360
Adjustments to reconcile net income or loss to net cash from operating activities:
Depreciation and amortization	72,062	84,503
Allowance for credit losses	8,268	9,382
Change in allowance for DIP Facility	—	(8,907)
Stock-based compensation	16,956	15,038
Amortization of debt fees	5,603	5,319
(Gain) loss on debt redemption/refinancing	(2,039)	24,446
Restructuring charges	9,978	17,042
Restructuring payments	(35,592)	(30,843)
Loss on disposal of assets	4,474	9,203
(Gain) loss on revaluation of intercompany loans	(6,731)	21,234
Other, net	26,058	(14,875)
Changes in operating assets and liabilities, net of acquisitions/divestitures:
Accounts and other receivables	1,359	(4,500)
Finance receivables	87,499	94,725
Inventories	3,022	(14,825)
Other current assets and prepayments	(7,332)	(5,932)
Accounts payable and accrued liabilities	(23,297)	(171,665)
Current and noncurrent income taxes	28,673	14,666
Advance billings	(1,461)	186
Net cash from operating activities	348,212	161,557
Cash flows from investing activities:
Capital expenditures	(45,041)	(46,027)
Purchases of investment securities	(9,171)	(30,039)
Proceeds from sales/maturities of investment securities	14,959	23,844
Net investment in loan receivables	10,383	(66,736)
DIP Facility reimbursement	—	8,907
Acquisition	—	(2,200)
Other investing activities, net	233	1,720
Net cash from investing activities	(28,637)	(110,531)
Cash flows from financing activities:
Borrowings under revolving credit facility	176,700	—
Repayments under revolving credit facility	(176,700)	—
Proceeds from the issuance of debt	300,000	1,005,000
Principal payments of debt	(402,032)	(820,262)
Premiums and fees paid to redeem/refinance debt	(7,728)	(29,127)
Dividends paid to stockholders	(40,599)	(36,905)
Customer deposits at Pitney Bowes Bank	(5,681)	(55,648)
Capped call payment	—	(24,702)
Proceeds from stock option exercise	36,818	21,703
Common stock repurchases	(205,725)	(251,774)
Other financing activities, net	(10,151)	(10,672)
Net cash from financing activities	(335,098)	(202,387)
Effect of exchange rate changes on cash and cash equivalents	(850)	2,629
Change in cash and cash equivalents	(16,373)	(148,732)
Cash and cash equivalents at beginning of period	284,887	469,726
Cash and cash equivalents at end of period	$268,514	$320,994

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.