- Pitney Bowes reported strong Q3 2020 results. Both revenue and EPS beat consensus estimates.
- Despite the broader market opening deeply in the red, on Friday, shares of PBI opened flat and actually briefly traded up to a new 52-week high.
- If you read PBI's conference call, the company invested aggressively bringing on three new facilities and upgrading another in anticipation of off-the-charts Q4 2020 holiday e-commerce demand.
- Also, pricing surcharges take place in Q4, so analysts should not have expected the e-commerce business to inflect in Q3.
For further details see:
Pitney Bowes And The Case Of The Mysterious 28% Spontaneous Sell-Off