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    Peter Sakon • CreditSights

    Peter Sakon's questions to Pitney Bowes Inc (PBI) leadership

    Peter Sakon's questions to Pitney Bowes Inc (PBI) leadership • Q1 2025

    Question

    Peter Sakon from CreditSights requested specific metrics on SendTech churn, a quantification of new equipment placements, and the expected profitability impact from the upcoming July pricing adjustment in the Presort segment.

    Answer

    CEO Lance Rosenzweig explained that while the company doesn't report a specific churn metric, the strategy is to elongate cash flows, similar to a SaaS model. Executive Robert Gold added that cancellation rates are expected to mitigate post-IMI migration. Gold also stated that a breakdown of new equipment placements isn't provided but confirmed it remains a strong revenue component. Regarding the Presort pricing adjustment, Rosenzweig anticipates a 'modestly positive' impact, pending final approval.

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    Peter Sakon's questions to Pitney Bowes Inc (PBI) leadership • Q4 2024

    Question

    Peter Sakon asked for the drivers of the significant decline in Q4 corporate expenses, the change in corporate employee headcount over the past year, and for an explanation of the recent pension charge.

    Answer

    Interim CFO John Witek explained that the drop in corporate expense was almost entirely due to cost-saving initiatives targeting corporate overhead, with a minor $5 million benefit from compensation accruals. He stated that over 2,000 employees were reduced, largely related to the GEC exit, with full details to come in the 10-K. Witek clarified the $91 million pension charge was a non-cash GAAP item to true-up the plan after a lump-sum payout campaign, which successfully de-risked the pension by reducing its size and market exposure.

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