Xerox Holdings Corporation - XRX STOCK NEWS

Xerox Holdings Corporation (NASDAQ: XRX) hosted an Investor Day to highlight strategies for long-term shareholder value and growth in its Print & Services and new business segments. CEO John Visentin emphasized the company's continued investment in innovation despite pandemic and supply chain challenges. Key announcements included the rebranding of Xerox Financial Services to FITTLE and growth strategies for CareAR and PARC. Xerox projects revenue of at least $7.1 billion for 2022, with plans for free cash flow generation of $400 million and a return of at least 50% to shareholders.

Xerox Holdings Corporation (NASDAQ: XRX) has rebranded its equipment financing business as FITTLE. The new name signifies the essential qualities of speed, quality, and ease in transacting. FITTLE is positioned to help businesses secure financing across a variety of offerings including IT services and office equipment. With over 150,000 customers in 29 countries and managing 700,000 leases, FITTLE aims to cater to the growing demand for vendor financing as businesses seek to preserve capital.

Xerox Holdings Corporation (NASDAQ: XRX) has announced an upcoming Investor Day scheduled for February 23, 2022, at 8 a.m. ET from the Nasdaq MarketSite in New York, New York. The event will feature presentations from key executives, including Vice Chairman and CEO John Visentin. Attendees can access presentation materials on Xerox's Investor Relations website starting at 7:30 a.m. ET. The event will also be livestreamed and available for later viewing.

Xerox Holdings Corporation (NASDAQ: XRX) has declared a quarterly dividend of $0.25 per share on its common stock, payable on May 2, 2022 for shareholders of record as of March 31, 2022.

Additionally, a quarterly dividend of $20 per share on the outstanding Holdings Series A Convertible Perpetual Preferred Stock will be paid on April 1, 2022 to shareholders of record on March 15, 2022.

Xerox has announced a partnership with Vertex Manufacturing to incorporate the ElemX 3D Printer at Vertex's Cincinnati facility. This collaboration aims to enhance contract manufacturing services using Xerox’s liquid metal technology, which simplifies the 3D printing of aluminum without hazardous powders. The ElemX technology offers faster part production and minimal post-processing. Xerox's Elem Additive Solutions has expanded since its launch in February 2021, reflecting significant growth in the additive manufacturing sector.

Xerox has announced the launch of the Xerox High Capacity XLS Vacuum Feeder, enhancing the capabilities of the Xerox Iridesse and Xerox Versant production presses. This new feeder allows for production of extra-long sheets, increasing feeding reliability and productivity. It utilizes advanced vacuum-feed technology that minimizes misfeeds and facilitates new applications such as posters and signage. The feeders are now available for the Iridesse Press and Versant 4100, with plans for the Versant 280.

Xerox Holdings Corporation (NASDAQ: XRX) has acquired Powerland, a premier IT services provider in Canada, for cash, enhancing its IT service offerings across North America. This acquisition focuses on cloud, cyber security, and managed services, aligning with increasing investments in IT by small and medium-sized businesses. Powerland's accolades include the Nvidia Partner of the Year and Dell Marketing Partner of the Year, which bolsters Xerox's reputation in the IT sector. This move is part of Xerox's strategy to expand its IT services business, previously acquiring ITEC Connect and Digitex.

Xerox announced its joint venture, Eloque, with the Victorian Government aims to triple the number of bridges in Australia using fiber optic sensing technology. Expansion plans are also in motion for the U.S. and Europe. Eloque is already operational on 12 Australian bridges, aiding asset managers in prioritizing maintenance. U.S. infrastructure needs are highlighted, with the Bipartisan Infrastructure Act providing $27 billion for repairs, yet a $125 billion shortfall remains for structurally deficient bridges.

Xerox Holdings Corporation (NASDAQ: XRX) reported Q4 2021 revenue of $1.78 billion, a 7.9% year-over-year decline, and a full-year revenue of $7.04 billion, reflecting a 0.2% increase. The company experienced significant losses, with GAAP EPS at $(3.97) for Q4 due to a $750 million goodwill impairment charge. However, adjusted EPS for Q4 was $0.34, down 41.4% year-over-year, while FY adjusted EPS rose 7.1% to $1.51. Xerox projects 2022 revenue growth and aims for at least $400 million in free cash flow while continuing investments in new business ventures.