Xerox Holdings Corporation - XRX STOCK NEWS

SAP SE announced that Xerox Holdings Corp. has chosen multiple SAP solutions to transform its enterprise architecture as part of its multi-year Reinvention. Xerox selected the RISE with SAP solution to move to the cloud, adopting a clean core approach to streamline operations across markets and business processes. By implementing SAP S/4HANA Cloud, Xerox aims to reduce IT costs, standardize global processes, and simplify its application landscape.

Xerox will also utilize other cloud solutions, including SAP Business AI, the SAP Customer Experience portfolio, SAP Business Technology Platform (SAP BTP), and supply management solutions. This integrated platform will provide real-time insights across finance, supply chain, and sales functions, enabling greater agility and cost reduction. Additionally, Xerox will leverage SAP's digital supply chain solutions to optimize operations and improve inventory visibility across nearly 145 countries.

Xerox Holdings (NASDAQ: XRX) has announced its latest dividend declarations. The board of directors has approved a quarterly dividend of $0.25 per share on Xerox Holdings Common Stock, payable on October 31, 2024, to shareholders of record on September 30, 2024. Additionally, a quarterly dividend of $20.00 per share has been declared on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock, set to be paid on October 1, 2024, to shareholders of record on September 15, 2024. This announcement demonstrates Xerox's commitment to providing regular returns to its shareholders.

Xerox has unveiled its new AltaLink C8200 and B8200 Series multi-function printers (MFPs), featuring AI-assisted technology to automate complex tasks and adapt to evolving workplace needs. These MFPs come pre-loaded with AI-enabled applications for document summarization, handwritten note conversion, and automatic redaction. The series includes Xerox Adaptive Learning, which uses AI algorithms to analyze usage patterns and optimize device settings.

The AltaLink 8200 series also serves as a platform for AI-assisted workflows, including Intelligent Document Processing. To address security concerns, Xerox has implemented advanced threat protection through collaborations with Trellix and Cisco, and integration with leading Security Information and Event Management (SIEM) platforms. The MFPs are designed for heavy workloads, offer seamless connectivity to mobile and cloud applications, and are ENERGY STAR, EPEAT, and Blue Angel certified for sustainability.

Xerox Holdings (NASDAQ: XRX) released its Q2 2024 results, showing sequential improvements despite year-over-year declines. Revenue was $1.58 billion, down 10% YoY. GAAP net income increased to $18 million ($0.11 per share), while adjusted net income decreased to $41 million ($0.29 per share). The company lowered its 2024 guidance, projecting revenue decline of 5-6% in constant currency and adjusted operating income of at least 6.5%. Xerox maintains its three-year target of $300 million incremental adjusted operating income above 2023 levels by 2026. CEO Steve Bandrowczak expressed confidence in the new operating model's ability to drive improvements and return to revenue growth in H2 2024.

Xerox Holdings (NASDAQ: XRX) has announced a live audio webcast scheduled for Thursday, July 25th, 2024, at 8 a.m. ET to discuss the company's 2024 second-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). This event provides an opportunity for investors and analysts to gain insights into Xerox's financial performance and future outlook directly from the company's leadership team.

Xerox Holdings (NASDAQ: XRX) announced that its board of directors has declared a quarterly dividend of $0.25 per share on Common Stock, payable on July 31, 2024, to shareholders of record as of June 28, 2024.

The board also declared a quarterly dividend of $20.00 per share on Series A Convertible Perpetual Preferred Stock, payable on July 1, 2024, to shareholders of record as of June 15, 2024.

Xerox Holdings (NASDAQ: XRX) has elected six new members to its Board of Directors during its Annual Meeting of Shareholders. This strategic move is aimed at supporting Xerox's transition into a services-led, software-enabled organization for sustainable, long-term growth. The newly appointed members include John Bruno, Tami Erwin, Priscilla Hung, Edward McLaughlin, John Roese, and Amy Schwetz. These seasoned executives bring a wealth of expertise in technology, product management, and operations.

The new Board, now comprising nine members, will work towards achieving Xerox's Reinvention objectives. Scott Letier, Chairman of the Board, and Steve Bandrowczak, Chief Executive Officer, emphasized that the new directors' diverse experiences are vital for driving innovation and positioning Xerox for future growth.

Xerox Holdings (NASDAQ: XRX) announces its participation in the J.P. Morgan Global Technology, Media and Communications Conference. The event will take place at 2:25 p.m. EDT on Tuesday, May 21, 2024. Key speakers include CEO Steve Bandrowczak, President and COO John Bruno, and CFO Xavier Heiss. A live webcast and replay of the event will be available on Xerox's investor relations website.

Xerox reported first-quarter results with revenue of $1.50 billion, down 12.4%, and a net loss of $(113) million. Despite challenges, the company implemented operating model changes and remains on track to meet Reinvention targets. The adjusted net income declined to $11 million, with an operating margin of 2.2%. Xerox expects a revenue decline of 3-5% in constant currency for 2024, with a focus on improving operating income margins.