Welcome to our dedicated page for Xerox Holdings Corporation news (Ticker: XRX), a resource for investors and traders seeking the latest updates and insights on Xerox Holdings Corporation stock.
Xerox Holdings Corporation (symbol: XRX) is a formidable player in the realm of imaging, business process, analytics, automation, and user-centric insights. Its sagacious engineering of work processes contributes to enhanced productivity, efficiency, and personalization for its clients. Xerox operates in over 180 countries, employing more than 130,000 individuals who drive meaningful innovations and deliver business process services, printing equipment, software, and solutions that significantly impact clients and their customers.
Xerox's core business focuses on the design, development, and sale of printing technology and related solutions. The company is recognized as an Original Equipment Manufacturer (OEM) of multifunction printers (MFPs) which include features like printing, copying, and scanning, primarily targeting large enterprise markets. Post-sales services, such as managed print services, offer clients smart servicing and operational efficiencies for their printing and copying needs.
While Xerox extensively serves the U.S. market, deriving 60% of its revenue domestically and 40% internationally, it is ambitiously breaking new grounds in sectors like digital print packaging solutions and printed electronics. This diversification aims to bolster Xerox’s market presence and revenue streams in burgeoning industries.
Recent achievements highlight Xerox's relentless pursuit of innovation and adaptability. The company’s ongoing projects and partnerships highlight its commitment to providing cutting-edge technology and solutions to meet the evolving demands of businesses worldwide.
For detailed updates on Xerox's latest performance, events, and developments, visit our news section below.
Xerox Holdings Corporation (NASDAQ: XRX) reported Q1 2023 financial results, with revenue of $1.72 billion, reflecting a 2.8% year-over-year increase. Adjusted earnings per share (EPS) rose to $0.49, up $0.61 year-over-year, while GAAP EPS reached $0.43, a significant increase from a loss of $(0.38) in Q1 2022. The company achieved an adjusted operating margin of 6.9%, rising 710 basis points year-over-year. Operating cash flow improved to $78 million, an increase of $12 million from the previous year, and free cash flow was at $70 million, up $20 million. Xerox also repaid $450 million of debt during the quarter. For 2023, guidance suggests revenue growth may be flat to down low-single-digits in constant currency.
Xerox Holdings Corporation (NASDAQ: XRX) has announced the donation of the Palo Alto Research Center (PARC) to SRI International, a nonprofit research institute. This strategic move allows Xerox to concentrate on enhancing its print, digital, and IT services, aligning with clients' hybrid workplace demands. Founded in 1970, PARC has been a leader in technological innovations, including Ethernet and laser printing. The partnership will enable PARC to leverage SRI’s resources for future growth while maintaining a preferred research agreement with Xerox to advance collaborative research. This donation will not alter Xerox’s financial guidance for the year.
Xerox Holdings Corporation (NASDAQ: XRX) has announced a live audio webcast scheduled for April 25, 2023, at 8 a.m. ET to discuss its 2023 first-quarter results. A related news release will be available at 6:30 a.m. ET on the same day. The discussion will be led by CEO Steve Bandrowczak and CFO Xavier Heiss, covering key financial metrics and performance updates. Investors and interested parties can access the webcast through the provided links. This event highlights Xerox's continuous efforts to engage with its stakeholders regarding financial transparency and operational performance.
Xerox is presenting its innovative digital print solutions at Hunkeler Innovation Days in Lucerne, Switzerland, from now until March 2. The company aims to enhance operational efficiency for print providers with its production print ecosystem, featuring the Xerox Baltoro HF Inkjet Press and Xerox Iridesse Production Press. Key offerings include FreeFlow Vision with Predictive Analytics, CareAR Assist Service Management Software, and XMPie’s personalization platform, all leveraging automation and machine learning. These technologies aim to boost productivity and improve customer experiences, demonstrating Xerox's commitment to advancing digital transformation in the printing industry.
Xerox Holdings Corporation (NASDAQ: XRX) announced a quarterly dividend of $0.25 per share on Common Stock, payable on May 1, 2023, for shareholders of record by March 31, 2023. Additionally, the board declared a dividend of $20.00 per share on Series A Convertible Perpetual Preferred Stock, payable on April 3, 2023, to shareholders of record on March 15, 2023. This reflects Xerox's commitment to returning income to shareholders amidst its ongoing innovations in various technologies.
Xerox Holdings Corporation (NASDAQ: XRX) reported a significant bounce back in Q4 2022, achieving revenues of $1.94 billion, a 9.2% increase year-over-year. The company highlighted GAAP EPS of $0.74, marking a turnaround from a $3.97 loss in the previous year. Adjusted EPS improved to $0.89, up $0.55 year-over-year. However, full-year results showed FY 2022 revenue at $7.11 billion, up only 1.0%, with GAAP loss per share at $2.15. The company anticipates flat to low-single-digit revenue growth for 2023, while aiming for an adjusted operating margin of at least 4.7% and free cash flow of at least $500 million.
Xerox Holdings Corporation (NASDAQ: XRX) will host a live audio webcast on January 26, 2023, at 8 a.m. ET to discuss its 2022 fourth-quarter and full-year results. A news release will be distributed earlier that day at 6:30 a.m. ET. CEO Steve Bandrowczak and CFO Xavier Heiss will lead the presentation, which aims to provide insights into the company's performance. Investors can access the webcast through the provided links. For over a century, Xerox has been innovating in office and production technologies, now expanding into software and services for improved workplace experiences.
Xerox Holdings Corporation (NASDAQ: XRX) has signed a Forward Funding Agreement with PEAC Solutions to support the growth of its FITTLE business, a provider of equipment leasing solutions. This deal allows FITTLE to sell up to $600 million in lease receivables to PEAC Solutions, which will purchase them monthly. The agreement is expected to enhance FITTLE's capital, enabling expansion in financing for business customers. Additionally, Xerox plans to reduce commitments under its revolving credit facility by 50%, optimizing cash flow for continuous growth.
Xerox Holdings Corporation (NASDAQ: XRX) appointed John Bruno as President and Chief Operating Officer, effective immediately. This follows the promotion of Steven Bandrowczak to Chief Executive Officer. Bruno, who has 30 years of experience with Fortune 500 companies, will work on shaping Xerox's global strategy and improving operational performance. He previously served as COO and CEO of Data & Analytic Services at Aon. The leadership change aims to enhance the client-centric operating model and customer experience at Xerox.
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