Pitney Bowes Inc. (NYSE:PBI) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET

Company Participants

Alex Brown - Director, Investor Relations.
Lance Rosenzweig - Chief Executive Officer & Board Member
John Witek - Interim Chief Financial Officer
Kurt Wolf - Board Member

Conference Call Participants

Anthony Lebiedzinski - Sidoti & Company
David Steinhardt - Contrarian Capital
Justin Dopierala - DOMO Capital Management
Kartik Mehta - Northcoast Research

Operator

Good afternoon, and welcome to the Pitney Bowes Third Quarter 2024 Earnings Release Call. [Operator Instructions] 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 the participants on today's conference call. Mr. Lance Rosenzweig, Chief Executive Officer and Board Member; Mr. John Witek, Interim Chief Financial Officer; Mr. Kurt Wolf, Board Member; and Mr. Alex Brown Director Investor Relations.

Mr. Brown, will now begin the call with a safe harbor overview.

Alex Brown

Good afternoon and thank you for joining us. Included in today's presentation are 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 2023 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 we do not undertake any obligation to update forward-looking statements as a result of new information or developments.

For non-GAAP measures that are included 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, in our prepared remarks, revenue comparisons will be on a constant currency basis with other items such as EBIT, EBITDA, EPS and free cash flow on an adjusted basis.

At this time, I would like to turn the call over to our Interim CEO, Lance

Lance Rosenzweig

Thank you, Alex. Good afternoon everyone. I want to begin by thanking the Board for appointing me permanent CEO of Pitney Bowes. When I joined as Interim CEO five months ago we set four key priorities for our turnaround; exit GEC, reduce excessive overheads, free-up trapped cash and reduce and improve our debt stack. I am incredibly proud of our team's success in tackling these priorities at an accelerated pace. We are on track to complete all four initiatives ahead of schedule and beat our targets in several areas. I'll share more details on this shortly but first our quarterly results.