Xerox Holdings Corp Stock Price, News & Analysis

Xerox (XRX) reported Q4 2024 revenue of $1.61 billion, down 8.6% year-over-year, with a GAAP net loss of $21 million ($0.20 per share). The adjusted net income was $49 million ($0.36 per share). For full-year 2024, revenue declined 9.7% to $6.22 billion, with a significant GAAP net loss of $1.32 billion ($10.75 per share), including a $1.0 billion goodwill impairment charge.

The company's adjusted operating margin for Q4 improved by 100 basis points to 6.4%, while the full-year margin declined 70 basis points to 4.9%. Free cash flow decreased to $467 million for the full year. Looking ahead to 2025, Xerox expects low single-digit revenue growth and an adjusted operating margin of at least 5.0%, with projected free cash flow between $350-400 million.

Xerox Holdings (NASDAQ: XRX) has announced it will host a live audio webcast on Tuesday, January 28th, 2025, at 8 a.m. ET to discuss its 2024 fourth-quarter and full-year results. The company will release its financial results earlier that day at 6:30 a.m. ET.

The webcast will feature presentations from key executives including Steve Bandrowczak (CEO), John Bruno (President and COO), and Mirlanda Gecaj (VP, Chief Accounting Officer and incoming CFO).

Xerox Holdings (NASDAQ: XRX) has announced its agreement to acquire Lexmark International for $1.5 billion, including assumed liabilities. The transaction, expected to close in the second half of 2025, aims to strengthen Xerox's core print portfolio and expand its global presence.

The merger will create an organization serving over 200,000 clients in 170 countries with 125 manufacturing and distribution facilities across 16 countries. The combined entity will have a top five global share in entry, mid, and production print markets. Xerox expects $200 million in cost synergies within two years of closing and immediate earnings per share accretion.

As part of the financing strategy, Xerox will reduce its annual dividend from $1 to 50 cents per share starting Q1 2025.

Xerox Holdings (NASDAQ: XRX) has announced its participation in the upcoming UBS 2024 Global Technology and AI Conference. The event will take place on Tuesday, December 3, 2024, at 12:15 p.m. EDT. Key executives attending include CEO Steve Bandrowczak, CFO Xavier Heiss, Chief Accounting Officer Mirlanda Gecaj, and VP of Investor Relations David Beckel. A live webcast and replay of the event will be accessible through the company's investor relations website.

Aston Martin Aramco Formula One Team has announced Xerox as its Official Global Partner starting in 2025. The multi-year partnership will focus on enhancing digital operations through Managed Print Services, Augmented Reality, and Marketing Insights. Xerox will provide critical telemetry data printing services and explore AR applications for remote assistance at track and wind tunnel operations. The partnership will commence with Xerox branding visible on the AMR24 at the upcoming Las Vegas Grand Prix.

Xerox Holdings (NASDAQ: XRX) has announced its latest dividend declarations. The company's board of directors has approved a quarterly dividend of $0.25 per share on common stock, payable on January 31, 2025, to shareholders of record on December 31, 2024. Additionally, a quarterly dividend of $20.00 per share was declared on the Series A Convertible Perpetual Preferred Stock, with payment scheduled for January 2, 2025, to shareholders of record on December 16, 2024.

Xerox (XRX) reported Q3 2024 revenue of $1.53 billion, down 7.5% year-over-year. The company posted a GAAP net loss of $1.2 billion, or $9.71 per share, including a $1.0 billion goodwill impairment charge and a $161 million tax valuation allowance. Adjusted net income was $34 million ($0.25 per share), down from $77 million ($0.46 per share) year-over-year.

The company lowered its 2024 guidance, now expecting revenue to decline around 10% in constant currency, with adjusted operating margin around 5.0% and free cash flow between $450-500 million. Despite equipment revenue falling short, adjusted operating margin improved 110 basis points to 5.2%.

Xerox Holdings (NASDAQ: XRX) has announced plans to host a live audio webcast on Tuesday, October 29th, 2024, at 8 a.m. ET to discuss the company's 2024 third-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). They will review Xerox's financial performance for the third quarter of 2024. Interested parties can access the webcast through the provided link.

Xerox Holdings (NASDAQ: XRX) has agreed to acquire ITsavvy, an Oak Brook, Illinois-based IT solutions provider, for $400 million. The deal includes a $180 million cash payment and $220 million in secured promissory notes. The acquisition is expected to close in Q4 2024, subject to merger clearance control.

ITsavvy, founded in 2004, has grown its revenue to over $400 million on a trailing twelve-month basis. The company offers integrated IT infrastructure solutions, lifecycle, deployment, and managed IT services. This acquisition aligns with Xerox's Reinvention strategy, focusing on expanding its IT Services capabilities and diversifying revenue streams in the US, Canada, and the UK.

The deal is expected to be immediately accretive to Xerox's adjusted earnings per share and free cash flow. Xerox management will provide further details during its Q3 2024 results presentation.