EUR/USD likely to find a peak near 1.25: UBS
STAMFORD, Conn. - Pitney Bowes Inc . (NYSE: NYSE:PBI), a global technology company providing commerce solutions with a market capitalization of $1.62 billion and annual revenue of $3.22 billion, has been named the Official Shipping Technology Partner of the New York Islanders and UBS Arena. According to InvestingPro data, the company has shown significant momentum with strong returns over the past week, month, and quarter. The partnership, announced today, is set to enhance operational efficiency and fan engagement through the use of Pitney Bowes’ ShipAccel platform.
ShipAccel, part of the Shipping 360 platform, offers the New York Islanders and UBS Arena a range of advanced shipping options, including a selection of carriers, pre-negotiated rates, and comprehensive operational visibility. This technology aims to streamline shipping activities for the organization, potentially reducing costs and maintaining a seamless delivery process.
As part of the collaboration, the Islanders and UBS Arena will introduce new fan engagement initiatives. The "3 Stars of the Game Sweepstakes" allows fans to win a puck signed by the top players of each home game victory, delivered through ShipAccel. Additionally, "Mystery Mondays" will offer weekly prizes, including tickets and signed memorabilia, all shipped using the Pitney Bowes system.
Dan Griffis, President of Global Partnerships at Oak View Group, which oversees UBS Arena and New York Islanders Partnerships, highlighted the alignment of Pitney Bowes’ shipping expertise with the organization’s commitment to delivering top-tier experiences to fans. Shemin Nurmohamed, President of Sending Technology Solutions at Pitney Bowes, echoed the sentiment, emphasizing the shared focus on exceptional experiences and the redefinition of shipping and fan engagement possibilities.
John Collins, Operating Partner of the New York Islanders, welcomed the partnership as a valuable addition that will allow the organization to concentrate on providing the best gameday experience by streamlining logistics.
The collaboration between Pitney Bowes and the New York Islanders is indicative of the growing trend of technology integration in sports operations and fan experiences. This partnership is based on a press release statement and aims to leverage technology to create engaging opportunities for sports communities. With its next earnings report due on February 4, 2025, and analysts expecting net income growth this year, Pitney Bowes maintains a FAIR financial health score. For deeper insights into Pitney Bowes’ financial outlook and access to over 12 additional ProTips, visit InvestingPro, where you’ll find comprehensive analysis in the Pro Research Report, part of our coverage of 1,400+ US equities.
In other recent news, Pitney Bowes Inc. has made significant strides in its financial strategy and business expansion. The company recently announced the acquisition of the presort operations of Royal Alliances, Inc., a move expected to increase the annual mail volume of Pitney Bowes Presort Services by over 100 million First-Class™ Mail pieces. Furthermore, Pitney Bowes has paid down $75 million of its senior secured notes, originally issued by Oaktree Capital Management, as part of its ongoing efforts to reduce its total debt load.
In addition, the company has reached an agreement in principle with DRF Logistics LLC, marking a significant step towards DRF’s exit from bankruptcy. This agreement is expected to be concluded by the end of 2024.
In terms of financial performance, Pitney Bowes reported a slight decrease in third-quarter revenue to $499 million from $503 million year-over-year. However, the company’s profitability has improved, with adjusted EBITDA rising 22% to $103 million and adjusted EPS growing to $0.21, up from $0.16. These improvements are attributed to strategic initiatives to reduce costs and optimize cash flow.
Looking forward, the full-year revenue for 2024 is projected to decline at a low-single-digit rate, while EBIT guidance has been raised to $355-$360 million. These are among the recent developments at Pitney Bowes.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.