Pitney Bowes Inc. (NYSE:PBI) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET
Company Participants
Alex Brown - Senior Manager, IR
Marc Lautenbach - President and CEO
Ana Maria Chadwick - EVP and CFO
Conference Call Participants
Anthony Lebiedzinksi - Sidoti and Company
Kartik Mehta - Northcoast Research
Matt Swope - Baird
Peter Sakon - CreditSights
Operator
Good morning and welcome to the Pitney Bowes Second Quarter 2023 Earnings Conference Call. Your lines have been placed in a listen-only mode during the conference call until the question-and-answer segment. Today's call is also being recorded. If you have any objections, please disconnect your lines at this time.
I would now like to introduce participants on today's conference call. Mr. Marc Lautenbach, President and Chief Executive Officer; Ms. Ana Maria Chadwick, Executive Vice President and Chief Financial Officer; and Mr. Alexander Brown, Senior Manager, Investor Relations.
Mr. Brown will now begin the call with a Safe Harbor overview.
Alex Brown
Good morning. I'm Alex Brown. And thank you for joining us. Included in today's presentation our forward-looking statements about our future business and financial performance. Forward-looking statements involve risks and uncertainties that could cause actual results to be materially different from our projections.
More information about these risks and uncertainties can be found in our earnings press release, our 2022 to Form 10-K annual report and other reports filed with the SEC that are located on our website at www.pb.com and by clicking on Investor Relations. Please keep in mind that we do not undertake any obligation to update forward-looking statements as a result of new information or developments.
Also for non-GAAP measures that are used in the press release or discussed in our presentation materials, you can find reconciliations to the appropriate GAAP measures in the tables attached to our press release. Finally, we have provided a slide presentation and spreadsheet with historical segment information on our website.
And now, I’d like to turn the call over to Marc.
Marc Lautenbach
Thank you, Alex. And good morning, everyone. I appreciate you all joining us this morning.
The second quarter played out as we expected as trends from the first quarter largely continued. SendTech and Presort grew profit for the quarter although SendTech less than transactions on the field that we were expecting.
We expect those transactions to close in the third quarter. Presort had a solid quarter growing both revenue and profit for the second quarter. Both of these businesses are well positioned for the third quarter and second half.