Pitney Bowes sees FY24 revenue growth flat to a low-single digit decline

“We expect revenue growth to range from flat to a low-single digit decline and EBIT margins to remain relatively flat on a year-over-year basis. We expect incremental benefit in 2024 from our company-wide cost reduction program as savings from actions taken in 2023 annualize and we further execute on the plan. We expect restoration of variable compensation and wage inflation to partially offset gains. We also expect similar levels of capital expenditures in 2024 as in 2023 and interest expense to remain around the elevated rate incurred in Q4 2023” noted the company in a release.