Pitney Bowes Inc. (NYSE: PBI) shares rose 1.89% in Wednesday trading following the release of financial results for the fourth quarter and full year 2025. Pitney Bowes has a market capitalization of $1.65 billion as of February 18, 2026.
Fourth Quarter Results
Revenue for the fourth quarter was $478 million, representing a 7% decrease compared to $516 million in the prior year period. GAAP net income for the quarter reached $27 million, an improvement from a net loss of $37 million in the fourth quarter of 2024. Adjusted earnings per share were $0.45, compared to $0.32 in the same period a year earlier.
Segment Highlights:
SendTech Solutions (Core Mailing): Revenue for this segment was $289.5 million, a decrease of 7.4% year-over-year. The decline was attributed to structural shifts in the mailing installation base and product migration.
Presort Services: Revenue in this division was influenced by volume fluctuations in the third and fourth quarters, with a focus on labor and transportation productivity.
Pitney Bowes Bank (Financial Services): The segment maintained stable finance receivables and credit quality, contributing to the overall cash flow profile of the organization.
Financial Trends
Full Year Results Context
For the full fiscal year 2025, Pitney Bowes reported revenue of approximately $1.9 billion. The company achieved a net income turnaround for the full year, a reversal from the net loss of $204 million recorded in fiscal year 2024. Operational results indicate a trend toward increased profitability and streamlined expenses following the exit of non-core business lines.
Business & Operations Update
Pitney Bowes completed the wind-down of its Global Ecommerce (GEC) reporting segment in early 2025. The company removed approximately $120 million in annualized costs by the end of 2024 and has increased its net annualized savings target to a range of $170 million to $190 million. These initiatives involve workforce rationalization and the simplification of the corporate organizational structure.
M&A or Strategic Moves
On August 8, 2024, the company initiated a series of transactions to facilitate the exit of the Global Ecommerce business. This included the sale of a majority interest in GEC entities to an affiliate of Hilco Commercial Industrial, followed by a Chapter 11 bankruptcy filing for those entities. The company also completed the sale of its fulfillment services business to Stord during the restructuring period.
Equity Analyst Commentary
Institutional coverage of Pitney Bowes remains varied. Bank of America initiated coverage on the company with an underperform rating. Citizens initiated coverage with a market outperform rating, while Goldman Sachs maintains a neutral position. Research reports from these institutions highlight the company’s cash flow generation and the ongoing impact of cost-reduction programs.
Guidance & Outlook
Management has issued financial guidance for fiscal year 2026, projecting revenue between $1.8 billion and $1.9 billion. Adjusted earnings per share are expected to range from $1.40 to $1.60. Factors to watch include the continued stabilization of the SendTech segment and the execution of the remaining cost-rationalization targets.
Performance Summary
Pitney Bowes shares moved higher following the fourth-quarter earnings disclosure. The company reported a 40% increase in adjusted earnings per share and a return to positive GAAP net income. Segment performance remains concentrated on core mailing and presort services as the company moves forward with its restructured balance sheet and revised cost base.
