Xerox Holdings Corporation - XRX STOCK NEWS

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.

Xerox Holdings Corporation (NASDAQ: XRX) will host a live audio webcast on January 25, 2022, at 8 a.m. ET, to discuss its 2021 fourth-quarter and full-year results. A news release will precede the event at 6:30 a.m. ET. The discussion will feature key executives, including John Visentin and Xavier Heiss. Shareholders can access the webcast through the provided link. Xerox continues its legacy of innovation in various technology fields, making significant advancements in workplace solutions.

PARC, a Xerox company, has secured a $5.8 million contract from DARPA to develop an AI system called AMIGOS, aimed at enhancing task execution through augmented reality (AR) guidance. This system will convert traditional manuals into interactive formats, allowing users to receive personalized instructions and feedback. PARC will lead the project in collaboration with the University of California, Rostock University, and Patched Reality. The initiative also aligns with Xerox's investments in AR technologies, reinforcing its strategic focus on innovative solutions in field service.

Xerox Holdings Corporation (NASDAQ: XRX) announced its participation in two upcoming investor events: the Raymond James' 2021 Technology Investors Conference on December 6, 2021, and a Non-Deal Roadshow hosted by Loop Capital on December 13, 2021. Key executives, including CEO John Visentin and CFO Xavier Heiss, will represent the company at these events. The Technology Investors Conference will be held virtually, while the Non-Deal Roadshow will take place at Xerox's New York City office, both in person and virtually. Replay options will be available for the audio webcast.

Xerox has launched the Xerox® Workflow Central, a secure cloud-based platform for workflow automation and digitization. It enhances productivity by enabling seamless document transformation across devices, supported by Microsoft Azure security. A recent survey indicated that 81% of small and medium businesses rely more heavily on innovation. Workflow Central offers various subscription levels, starting with core capabilities and advancing to customizable workflows. Significant organizations, like Aspen Pharmacare, utilize this platform for efficient document processing.

Xerox Holdings Corporation (NASDAQ: XRX) reported third-quarter 2021 revenues of $1.76 billion, a 0.5% decline year-over-year, and a 1.6% decline in constant currency. GAAP earnings per share rose to $0.48, up 17.1% from the previous year, while adjusted EPS remained flat at $0.48. Operating cash flow decreased by $6 million to $100 million, and free cash flow dropped by $7 million to $81 million. The company reduced its full-year revenue guidance to approximately $7.1 billion but reaffirmed its free cash flow guidance of at least $500 million.

Xerox Holdings Corporation (NASDAQ: XRX) announced a quarterly dividend of $0.25 per share on its common stock, payable on January 31, 2022, to shareholders of record on December 31, 2021. Additionally, the board declared a dividend of $20 per share on the Series A Convertible Perpetual Preferred Stock, payable on January 1, 2022, to shareholders of record on December 15, 2021.