Xerox Holdings Corporation - XRX STOCK NEWS

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.

Xerox Holdings Corporation (NASDAQ: XRX) has published its 2021 Global Corporate Social Responsibility (CSR) Report, which includes a roadmap to achieve net zero emissions by 2040, accelerated by 10 years. The report highlights accomplishments such as achieving 100% ENERGY STAR® registration for eligible products and collaborating with the U.S. Department of Energy to reduce HVAC energy consumption by up to 80%. Xerox also increased board diversity to 40% and supported COVID-19 response efforts. The report is prepared under GRI standards and details Xerox’s commitment to environmental and societal improvement.

Xerox Holdings Corporation (NASDAQ: XRX) is set to host a live audio webcast on Tuesday, Oct. 26, 2021, at 8 a.m. ET to discuss its 2021 third-quarter results and guidance. A news release will be available at 6:30 a.m. ET the same day. The discussion will feature John Visentin, vice chairman and CEO, and Xavier Heiss, CFO. Investors can access the webcast online and a replay will be available after the event.

Xerox has announced the acquisition of Competitive Computing (C2), further expanding its IT services business. C2, recognized for its quality IT services in Vermont, caters to clients in New England and nationwide. This strategic move aims to enhance Xerox's capabilities in offering automation, digitization, and security solutions, ultimately lowering operational costs and boosting productivity for small and medium-sized businesses. The global IT services market is valued at over $350 billion annually, indicating strong growth potential.