The CEO of Shelton-based mailing and shipping technology company Pitney Bowes said its board is evaluating a range of strategic alternatives — including acquisitions, divestitures, partnerships and a possible sale — as it continues a previously announced strategic review.
The company disclosed the expanded scope of the review Wednesday in a letter from CEO Kurt Wolf to shareholders released alongside its second-quarter earnings report.
Pitney Bowes said a committee of independent directors, working with outside advisers, is evaluating those alternatives against the company’s long-term business plan. The company said it will not comment on the timing or potential outcome of the review and cautioned there is no guarantee it will result in a transaction or other strategic change.
The company has undergone significant restructuring in recent years as it adapts to declining traditional mail volumes and shifting shipping and logistics demands. Pitney Bowes has reduced its workforce, cut costs, paid down debt and exited parts of its e-commerce business while refocusing on its core mailing, shipping and financial services operations.
Wolf also said the company has postponed a planned analyst and investor day until the first half of 2027 because of the ongoing review.
The update came as Pitney Bowes reported second-quarter net income of $49.9 million, or 36 cents per diluted share, up from $30 million, or 17 cents per diluted share, a year earlier. Revenue declined 2% to $451.5 million. The company also raised its full-year outlook for adjusted earnings and free cash flow while reaffirming its revenue forecast.
