Xerox Holdings Corp Stock Price, News & Analysis

Xerox Holdings Corporation (NASDAQ: XRX) has appointed Steven Bandrowczak as its new Chief Executive Officer, effective immediately. Bandrowczak previously served as President and Chief Operations Officer since joining the company in 2018, and he has been Interim CEO since the passing of John Visentin in June 2022. Under his leadership, Xerox aims to enhance its global operations strategy and drive profitability through digital platforms. The Board has expressed full confidence in Bandrowczak's capability to lead Xerox into the future.

Xerox Holdings Corporation (NASDAQ: XRX) has appointed Philip Giordano to its board of directors. Giordano, founder and Chief Investment Officer of Livello Capital Management, brings extensive experience as a value investor from his time at Goldman Sachs and Deutsche Bank. Chairman James Nelson expressed confidence in Giordano's ability to support Xerox's corporate strategy. With this addition, the board retains eight members. Giordano aims to collaborate closely with the Xerox team to drive the company's growth.

Xerox Holdings Corporation (NASDAQ: XRX) reported second-quarter 2022 results with total revenue of $1.75 billion, a 2.6% year-over-year decline but a 1.1% increase in constant currency. The company posted a GAAP diluted loss per share of $(0.05), significantly down from $0.46 in Q2 2021, and an adjusted EPS of $0.13. Operating income decreased 72.2% year-over-year, while the company maintained guidance for revenue of at least $7.1 billion and free cash flow of at least $400 million for 2022, expecting margin improvements in the second half.

Xerox Holdings Corporation (NASDAQ: XRX) has announced a quarterly dividend of $0.25 per share on its common stock, payable on October 31, 2022, to shareholders of record as of September 30, 2022. Additionally, a dividend of $20.00 per share on the Series A Convertible Perpetual Preferred Stock will be paid on September 30, 2022, for shareholders of record on September 15, 2022. This decision reflects Xerox’s commitment to returning value to its shareholders.

Xerox Holdings Corporation (NASDAQ: XRX) will hold a live audio webcast to discuss its 2022 second-quarter results on July 26, 2022, at 8 a.m. ET. This session will follow an earlier news release at 6:30 a.m. ET. Interim CEO Steve Bandrowczak and CFO Xavier Heiss will present during the event, which can be accessed via a webcast link. This presentation aims to provide insights into Xerox's performance and future outlook.

Xerox ElemX™3D metal printer has been successfully installed on the USS Essex (LHD 2) as part of the U.S. Navy's strategy to utilize additive manufacturing for improved operational readiness. This marks the first deployment of a metal additive printer aboard a U.S. Naval vessel. At-sea trials commenced immediately following installation in Pearl Harbor, Hawaii. The ElemX technology offers significant advantages by enabling on-demand part production, reducing reliance on complex supply chains, and facilitating quicker response times for maintenance needs, thereby supporting naval operations.

Xerox has announced the acquisition of Go Inspire, a UK-based print and digital marketing services provider, aiming to enhance its global Digital Services footprint. This strategic move is designed to transform Xerox's transactional and direct mail services into multi-channel communications, driving growth in the EMEA region. The terms of the transaction remain undisclosed. Xerox intends to leverage Go Inspire’s capabilities to expand its service offerings and better serve its existing and new clients in Europe, the Middle East, and Africa.

Xerox Holdings Corporation is mourning the unexpected passing of its CEO, John Visentin, due to complications from an illness. The company's President and COO, Steve Bandrowczak, has been appointed as Interim CEO. Visentin, who joined Xerox in May 2018, was instrumental in navigating the company through challenging times, emphasizing innovation and expanding its services. The transition is supported by the Board, with Bandrowczak committed to pursuing Visentin's legacy while fulfilling commitments to shareholders and clients.

Xerox Holdings Corporation (NASDAQ: XRX) announced that as of June 3, 2022, holders of approximately $434.3 million in Senior Notes due 2023 tendered their Notes, representing 43.43% of the outstanding principal. Xerox plans to accept $350 million of the tendered Notes on June 7, 2022, but due to the high tender amount, purchases will be prorated at approximately 80.60%. Each holder will receive $1,007.50 per $1,000 principal in total consideration, including accrued interest, with the offer expiring on June 17, 2022.