After years of poor stock performance, Pitney Bowes Inc. seems to be heading in a new direction under its new CEO, Marc B. Lautenbach, a former IBM officer.
So far this year PB stock has surged nearly 60 percent and the company’s second quarter earnings report posted a relatively strong quarter.
Quarterly earnings increased 1.9 percent year over year, while total revenue decreased 0.7 percent for the quarter ending June 30.
Pitney Bowes, based in Stamford,  has struggled to restructure its company since its core business, mail volume, has declined. However this quarter analysts have noted the company seems to have stabilized its revenue and paid down some of its debt.
The company has also announced it will use the proceeds from an upcoming $400 million sale of its management services company for debt reduction.
