Xerox Holdings Corporation - XRX STOCK NEWS

Xerox has acquired Groupe CT, an independent document management provider in Eastern Canada, as part of its strategy to enhance its presence in the North American small and midsize business (SMB) market. This is Xerox's second acquisition in the Canadian SMB space in a year, following the purchase of Digitex. The integration aims to deliver tailored solutions to SMBs, fostering their growth amidst the current economic climate. Terms of the transaction were not disclosed.

Xerox Holdings Corporation (NYSE: XRX) reported first-quarter 2021 results, revealing a revenue decline of 8.1% year-over-year to $1.71 billion. Despite challenges posed by the pandemic, equipment sales and IT services revenue increased. The company achieved a pre-tax income of $53 million compared to a loss of $5 million in Q1 2020. Adjusted earnings per share rose by 4.8% to $0.22. Xerox is on track to finalize the separation of XFS, Xerox Software, and PARC Innovation as distinct entities by the end of 2021, positioning itself for growth as businesses return to office environments.

Xerox Holdings Corporation (NYSE: XRX) announced a live audio webcast for its 2021 first-quarter results on April 20, 2021, at 8 a.m. ET. This event will include an online presentation and is expected to provide insights into the company's financial performance during the first quarter.

John Visentin and Xavier Heiss, the company’s vice chairman and CEO alongside the CFO, will host the discussion. A news release with preliminary results will be made available at 6:30 a.m. ET on the same day.

Xerox maintains its position as a leader in the managed print services (MPS) market, according to Quocirca’s latest report. The company is recognized for its cloud capabilities, advanced security features, and support for hybrid work environments. Despite challenges due to the pandemic, Xerox's extensive service portfolio continues to meet the digital transformation and cybersecurity needs of clients. The Xerox Intelligent Workplace Services (IWS) further enhances productivity and security for remote employees. The company's focus on cloud strategy aligns well with mobile workers' needs.

Xerox Holdings Corporation (NYSE: XRX) has announced the nomination of Nichelle Maynard-Elliott and Margarita Paláu-Hernández to its board of directors, bringing the total to nine members. The changes will be voted on at the annual shareholders meeting on May 20, 2021. Maynard-Elliott, with over 25 years of deal-making experience, recently contributed to Praxair's $90 billion merger with Linde PLC. Paláu-Hernández has a diverse background in business and media, previously serving as a U.S. Ambassador. Both nominees aim to enhance Xerox's growth strategy.

Xerox Holdings Corporation (NYSE: XRX) has declared a quarterly cash dividend of $0.25 per share on its common stock, payable on April 30, 2021, to shareholders on record as of March 31, 2021. Additionally, a quarterly cash dividend of $20 per share was declared for the Series A Convertible Perpetual Preferred Stock, payable on April 1, 2021, to shareholders registered by March 15, 2021.

Xerox Holdings Corporation (NYSE: XRX) has partnered with Lexmark, marking the first client for its new global payments solutions business, Xerox Financial Services (XFS). XFS aims to finance both Xerox and third-party workplace technologies, providing financing for Lexmark's Managed Print Services engagements. This initiative enhances Xerox's offerings, incorporating automated loan processing for improved customer experience. Nicole Torraco leads XFS, signaling a strategic shift to streamline financing options for modern workplace needs.

Xerox Holdings Corporation (NYSE: XRX) announced the official appointment of Jacques-Edouard Gueden as executive vice president and president of EMEA Operations, a role he has held on an interim basis since late September. Gueden's extensive experience, including his previous roles in sales and marketing, positions him well to drive growth across EMEA. He aims to enhance awareness and revenue for Xerox's portfolio, focusing on new technologies, including 3-D metals and IoT solutions.

Xerox has partnered with the Naval Postgraduate School (NPS) to enhance additive manufacturing research, particularly in 3D printing, for military applications. This collaboration includes a Collaborative Research and Development Agreement (CRADA) and the installation of the Xerox ElemX™ Liquid Metal Printer at NPS. The printer enables on-demand production of metal parts, aiming to improve supply chain flexibility for the Navy. This initiative addresses complex military supply challenges, allowing personnel to create necessary parts directly, thereby reducing reliance on global supply chains.