Xerox beats on profit, misses on revenue under Icahn appointees [Toronto Globe and Mail (Ontario, Canada)]
Xerox Holdings Corporation (XRX)
Last xerox holdings corporation earnings: 4/28 06:30 am
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Source: Toronto Globe and Mail
Xerox Corp fell short on revenue but beat estimates for profit on the back of cost-cutting in its first full quarter under new management backed by activist investors Carl Icahn and Darwin Deason. The U.S. photocopier, which is facing a long-running decline in its core business, reported net profit that roughly halved and said revenue fell 5.8 per cent year-on-year to $2.35 billion in the third quarter ended Sept. 30, below an average analyst estimate of $2.42 billion. Operating cash flow for the quarter, however, rose and the company increased its 2018 share repurchase target to $700 million from $500 million and forecast for full-year free cash flow to between $900 million and $1 billion. Story continues below advertisement “Clearly, our priority to drive revenue requires the most effort,” Chief Executive Officer John Visentin, who worked as a consultant to Icahn in the proxy fight, said on a call with analysts. “We are putting in place
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- Xerox Holdings Corporation Announces Full Exercise of Over-Allotment Option for its 3.75% Convertible Senior Notes due 2029, and Completion of Series of Financing TransactionsBusiness Wire
- Xerox Holdings Co. (NYSE: XRX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Xerox Holdings Corporation Announces Closing of Senior Notes OfferingBusiness Wire
XRX
Earnings
- 1/25/24 - Miss
XRX
Analyst Actions
- 1/26/24 - JP Morgan
XRX
Sec Filings
- 3/25/24 - Form 8-K
- 3/15/24 - Form 8-K
- 3/13/24 - Form 4
- XRX's page on the SEC website