Filing Flows › Pitney Bowes (PBI) › Q2 2026 › vs Q1 2026
Pitney Bowes (PBI) Q2 2026 vs Q1 2026 (quarter over quarter)
Pitney Bowes's revenue fell $25.9M (-5%) from $477M in Q1 2026 to $451M in Q2 2026. The biggest changes: Services −$22.1M (-7%); Financing and other −$2.7M (-3%); Products −$1.1M (-1%). Operating margin 14.5% against 16.9% (-2.4 pts).
Pitney Bowes, Q2 2026: revenue $451M (-2% year over year), operating margin 14.5%, net earnings $49.9M, operating cash flow $153M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 14.5% | 16.9% | -2.4 pts |
| Net margin | 11.1% | 12.2% | -1.1 pts |
| Free cash flow margin | 29.8% | 5.9% | +23.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Services | $285M | $307M | −$22.1M | -7% |
| Products | $87.5M | $88.7M | −$1.1M | -1% |
| Financing and other | $79.5M | $82.2M | −$2.7M | -3% |
| Revenue | $451M | $477M | −$25.9M | -5% |
| Operating profit | $65.5M | $80.5M | −$15.0M | -19% |
| Costs & expenses | $386M | $397M | −$10.9M | -3% |
| Pre-tax earnings | $65.5M | $80.5M | −$15.0M | -19% |
| Research & development | $3.4M | $3.8M | −$411K | -11% |
| SG&A | $129M | $133M | −$4.6M | -3% |
| Other operating costs | $254M | $260M | −$5.9M | -2% |
| Net earnings | $49.9M | $58.1M | −$8.2M | -14% |
| Income tax | $15.6M | $22.3M | −$6.8M | -30% |
| Depreciation & amortization | $23.7M | $25.6M | −$2.0M | -8% |
| Share-based compensation | $9.8M | $3.3M | $6.5M | +199% |
| Working capital & other | $69.5M | −$42.9M | $112M | — |
| Operating cash flow | $153M | $44.2M | $109M | +246% |
| Free cash flow (OCF − capex) | $134M | $28.3M | $106M | +375% |
| Capital expenditures | $18.5M | $15.8M | $2.6M | +17% |
Questions
How much did Pitney Bowes's revenue grow quarter over quarter in Q2 2026?
Pitney Bowes's revenue fell $25.9M (-5%) from $477M in Q1 2026 to $451M in Q2 2026.
What drove Pitney Bowes's revenue change in Q2 2026?
Services −$22.1M (-7%); Financing and other −$2.7M (-3%); Products −$1.1M (-1%).