Matthew Swope's questions to Pitney Bowes Inc (PBI) leadership • Q4 2024
Question
Matthew Swope asked about plans for refinancing the 2027 and 2029 notes, whether there was hesitation in announcing shareholder returns, the outlook for cash taxes and restructuring costs in 2025, and the expected timing of the company's revenue growth inflection point.
Answer
Interim CFO John Witek reiterated that any action on the 2027 and 2029 notes would be opportunistic, consistent with their capital allocation strategy. CEO Lance Rosenzweig stated there was no hesitation in boosting shareholder returns now that the cash-draining GEC business is gone and cash flow is strong. Witek confirmed the GEC tax asset will reduce cash taxes over the next three years and that most cash restructuring charges for the current savings plan are already behind them. Lance Rosenzweig concluded that the revenue growth inflection point is not expected in 2025 but is a key future goal.