Pitney Bowes misses by $0.10, reports revs in-line; guides FY17 EPS below consensus (13.74)
- Reports Q3 (Sep) earnings of $0.33 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus of $0.43; revenues rose 0.5% year/year to $842.82 mln vs the $837.6 mln Capital IQ Consensus.
- Co issues downside guidance for FY17, sees EPS of $1.38-1.46 (Prior $1.70-1.78), excluding non-recurring items, vs. $1.70 Capital IQ Consensus Estimate. Revenue, on a constant currency basis, to be in the range of 3 percent to 5 percent growth, when compared to 2016. This has been updated from the previous range of flat to 1 percent as a result of the revenue expected from Newgistics in the fourth quarter.
- Free cash flow to be in the range of $350 million to $380 million. This has been updated from the previous range of $400 million to $430 million