Welcome to our dedicated page for Xerox Holdings Corporation news (Ticker: XRX), a resource for investors and traders seeking the latest updates and insights on Xerox Holdings Corporation stock.
Xerox Holdings Corporation (symbol: XRX) is a formidable player in the realm of imaging, business process, analytics, automation, and user-centric insights. Its sagacious engineering of work processes contributes to enhanced productivity, efficiency, and personalization for its clients. Xerox operates in over 180 countries, employing more than 130,000 individuals who drive meaningful innovations and deliver business process services, printing equipment, software, and solutions that significantly impact clients and their customers.
Xerox's core business focuses on the design, development, and sale of printing technology and related solutions. The company is recognized as an Original Equipment Manufacturer (OEM) of multifunction printers (MFPs) which include features like printing, copying, and scanning, primarily targeting large enterprise markets. Post-sales services, such as managed print services, offer clients smart servicing and operational efficiencies for their printing and copying needs.
While Xerox extensively serves the U.S. market, deriving 60% of its revenue domestically and 40% internationally, it is ambitiously breaking new grounds in sectors like digital print packaging solutions and printed electronics. This diversification aims to bolster Xerox’s market presence and revenue streams in burgeoning industries.
Recent achievements highlight Xerox's relentless pursuit of innovation and adaptability. The company’s ongoing projects and partnerships highlight its commitment to providing cutting-edge technology and solutions to meet the evolving demands of businesses worldwide.
For detailed updates on Xerox's latest performance, events, and developments, visit our news section below.
Aston Martin Aramco Formula One Team has announced Xerox as its Official Global Partner starting in 2025. The multi-year partnership will focus on enhancing digital operations through Managed Print Services, Augmented Reality, and Marketing Insights. Xerox will provide critical telemetry data printing services and explore AR applications for remote assistance at track and wind tunnel operations. The partnership will commence with Xerox branding visible on the AMR24 at the upcoming Las Vegas Grand Prix.
Xerox Holdings (NASDAQ: XRX) has announced its latest dividend declarations. The company's board of directors has approved a quarterly dividend of $0.25 per share on common stock, payable on January 31, 2025, to shareholders of record on December 31, 2024. Additionally, a quarterly dividend of $20.00 per share was declared on the Series A Convertible Perpetual Preferred Stock, with payment scheduled for January 2, 2025, to shareholders of record on December 16, 2024.
Xerox (XRX) reported Q3 2024 revenue of $1.53 billion, down 7.5% year-over-year. The company posted a GAAP net loss of $1.2 billion, or $9.71 per share, including a $1.0 billion goodwill impairment charge and a $161 million tax valuation allowance. Adjusted net income was $34 million ($0.25 per share), down from $77 million ($0.46 per share) year-over-year.
The company lowered its 2024 guidance, now expecting revenue to decline around 10% in constant currency, with adjusted operating margin around 5.0% and free cash flow between $450-500 million. Despite equipment revenue falling short, adjusted operating margin improved 110 basis points to 5.2%.
Xerox Holdings (NASDAQ: XRX) has announced plans to host a live audio webcast on Tuesday, October 29th, 2024, at 8 a.m. ET to discuss the company's 2024 third-quarter results. A news release containing this information will be issued earlier that day at 6:30 a.m. ET.
The webcast will feature key executives including Steve Bandrowczak (CEO), John Bruno (President and COO), and Xavier Heiss (CFO). They will review Xerox's financial performance for the third quarter of 2024. Interested parties can access the webcast through the provided link.
Xerox Holdings (NASDAQ: XRX) has agreed to acquire ITsavvy, an Oak Brook, Illinois-based IT solutions provider, for $400 million. The deal includes a $180 million cash payment and $220 million in secured promissory notes. The acquisition is expected to close in Q4 2024, subject to merger clearance control.
ITsavvy, founded in 2004, has grown its revenue to over $400 million on a trailing twelve-month basis. The company offers integrated IT infrastructure solutions, lifecycle, deployment, and managed IT services. This acquisition aligns with Xerox's Reinvention strategy, focusing on expanding its IT Services capabilities and diversifying revenue streams in the US, Canada, and the UK.
The deal is expected to be immediately accretive to Xerox's adjusted earnings per share and free cash flow. Xerox management will provide further details during its Q3 2024 results presentation.
Xerox Holdings (NASDAQ: XRX) has published its 2024 Global Corporate Social Responsibility (CSR) Report, titled 'Leading Responsibly'. The report highlights Xerox's 2023 achievements in workplace sustainability, community support, and operational efficiency. Key accomplishments include:
1. Progress on the net zero by 2040 roadmap, with the company on track to meet its 2030 greenhouse gas emission reduction goals.
2. Innovation in workplace technology, with CareAR enabling remote issue resolution and reducing carbon emissions.
3. Recognition for sustainability efforts, including being named a leader in the 2023 Quocirca Sustainability Report and receiving the ENERGY STAR® 2024 Partner of the Year Award.
4. Community investment of over $2.4 million and 42,000+ employee volunteer hours globally.
5. Introduction of a new Verified Carbon Neutrality Service to help clients create more sustainable workplaces.
Xerox (XRX) has announced that CFO Xavier Heiss will retire on February 1, 2025, after over 30 years with the company. Heiss, who has been CFO since 2021, will be succeeded by Mirlanda Gecaj, the current vice president and chief accounting officer. Gecaj joined Xerox in 2022 and has been instrumental in enhancing the company's financial operations and reporting.
CEO Steve Bandrowczak praised Heiss's contributions to Xerox's transformation and expressed confidence in Gecaj's ability to lead the company's financial strategy. Gecaj's background includes experience in business transformation at global technology companies, focusing on innovation and efficiency. During her time at Xerox, she has implemented financial process standardization and automation, resulting in significant cost savings.
Xerox has unveiled the PrimeLink C9200 Series color printers at the PRINTING United Expo 2024 in Las Vegas. This entry-level production press combines high-end capabilities with a space-saving design and automated workflows. The series includes the C9265, C9275, and C9281 models, offering speeds up to 81 pages per minute. Key features include:
- New toner formulation similar to the Iridesse Production Press
- Redesigned imaging system for superior performance
- Custom media catalogs for versatile printing options
- Advanced production-class feeding and finishing
- Choice of Xerox and Fiery print servers
- Integration with Xerox's production print ecosystem
- 10-inch touchscreen for easy operation
The PrimeLink C9200 series will be available for order starting in November, reinforcing Xerox's commitment to production print as a key priority for long-term client success.
Xerox Holdings (NASDAQ: XRX) and Taktiful Software Solutions have announced their intent to form a strategic partnership aimed at expanding their presence in the digital embellishment market. This collaboration will combine Xerox's industry-leading digital printing technology and market reach with Taktiful's AI-powered digital embellishment solutions.
The partnership focuses on delivering advanced production print enhancement capabilities, including white, clear, mixed metallics, fluorescents, and extended gamut options. These enhancements are expected to increase profitability and enable clients to expand into new areas. The alliance will integrate AI-enabled technology workstreams to develop innovative solutions that seamlessly fit into existing print infrastructures, making digital embellishments more accessible and cost-effective.
Xerox announced its participation in PRINTING United Expo 2024, showcasing its advanced end-to-end production ecosystem. The event, held from September 10-12 in Las Vegas, will feature Xerox's digital print solutions, including the Xerox® Iridesse® Production Press and Xerox® Versant® 280 Production Press. Xerox will demonstrate workflow analytics, automation, omni-channel customer communications management, and intelligent assistant capabilities. The company's FreeFlow Vision Software and FreeFlow Vision Connect Software will be honored with a PRINTING United Alliance 2024 Pinnacle Award for Technology. Xerox's partnership with FUJIFILM Business Innovation will also be highlighted, emphasizing their collaboration in driving industry advancements and delivering cutting-edge products.
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