Earnings Presentation Q2 2024 Results July 25, 2024 xerox 2 Forward-Looking Statements This presentation and other written or oral statements made from time to time by management contain "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "anticipate", "believe", "estimate", "expect", "intend", "will", "should", "targeting", "projecting", "driving" and similar expressions, as they relate to us, our performance and/or our technology, are intended to iden ...

EXHIBIT 99.1 News from Xerox Holdings Corporation Xerox Releases Second-Quarter Results Reinvention drives sequential operating and financial improvements in Q2; Company revises full-year outlook, reiterates three-year adjusted operating income improvement target Financial Summary Q2 2024 • Revenue of $1.58 billion, down 10 percent, or 9.6 percent in constant currency. • GAAP net income of $18 million, or $0.11 per share, up $79 million or $0.52 per share, year-over-year, respectively. • Adjusted net income ...

Xerox Holdings Corporation (XRX) is currently banking on "Project Own It" and a post-sale-driven business model in its endeavor for a strong top and bottom-line performance.The company’s earnings are anticipated to register growth of 12.6% and 10.7% in 2024 and 2025, respectively.Factors That Bode WellXerox is expanding its presence in small and mid-sized markets, particularly in the United States, U.K., and Canada, through Xerox Business Solutions and acquiring dealers and IT services providers globally. T ...

Core Viewpoint - Xerox Holdings Corporation reported disappointing first-quarter 2024 results, with both earnings and revenues missing consensus estimates, leading to a negative trend in stock performance [2][9]. Financial Performance - Adjusted EPS for Q1 2024 was 6 cents, missing the Zacks Consensus Estimate by 84.2% and declining over 87.8% year-over-year [2]. - Total revenues were $1.5 billion, missing the consensus mark by 4.8% and decreasing 12.4% year-over-year on a reported basis [2]. - Post-sale revenues were $1.2 billion, down 8.5% year-over-year, primarily due to reductions in lower-margin products and geographic simplification [3]. - Equipment sales fell 25.8% year-over-year to $290 million, attributed to backlog reduction and geographic simplification [3]. - Print and Other segment revenues totaled $1.43 billion, down 12.6% year-over-year [3]. - Services, maintenance, and rental revenues were $937 million, down 6.7% year-over-year [4]. Operating Performance - Adjusted operating income was $33 million, down 72% year-over-year, with an adjusted operating margin of 2.2%, up 470 basis points year-over-year [5]. Balance Sheet and Cash Flow - Xerox ended the quarter with cash and cash equivalents of $685 million, an increase from $519 million in the previous quarter [6]. - Operating cash outflow was $79 million, and free cash outflow was $89 million for the quarter [6]. 2024 Guidance - The company expects 2024 revenues to decline by 3% to 5% on a constant currency basis, with an adjusted operating margin of at least 7.5% and free cash flow of at least $600 million [7]. Market Sentiment - Estimates for Xerox have trended downward, with a consensus estimate shift of -7.14% over the past month [7]. - The stock has an average Growth Score of C and a Momentum Score of D, but a grade of A on the value side, placing it in the top quintile for this investment strategy [8]. - Xerox currently holds a Zacks Rank 5 (Strong Sell), indicating expectations of below-average returns in the coming months [9].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to XEROX HOLDINGS CORPORATION XEROX CORPORATION (Exact Name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organiza ...

Core Insights - Xerox Holdings Corporation reported disappointing first-quarter 2024 results, with both earnings and revenues falling short of the Zacks Consensus Estimate [1] - The stock declined 2.6% since the earnings release on April 23, and has depreciated 21.5% year to date, contrasting with a 0.4% growth in the industry [1] Revenue Performance - Total revenues for the quarter were $1.5 billion, missing the consensus mark by 4.8% and decreasing 12.4% year over year [1] - Post-sale revenues were $1.2 billion, down 8.5% year over year, primarily due to reductions in nonstrategic, lower margin paper and IT endpoint device placements [2] - Equipment sales fell 25.8% year over year to $290 million, lagging behind estimates due to backlog reduction and geographic simplification [2] - Print and Other segment revenues totaled $1.43 billion, down 12.6% year over year, while Xerox Financial Services revenues were $91 million, down 10.8% year over year [2] Operating Performance - Adjusted operating income was $33 million, representing a 72% decline year over year, with an adjusted operating margin of 2.2%, up 470 basis points year over year [4] Balance Sheet and Cash Flow - Xerox ended the quarter with cash and cash equivalents of $685 million, an increase from $519 million at the end of the previous quarter [5] - The company reported operating cash outflow of $79 million and free cash outflow of $89 million for the quarter [5] 2024 Guidance - Xerox anticipates a revenue decline of 3% to 5% on a constant currency basis for 2024, with an adjusted operating margin of at least 7.5% and free cash flow of at least $600 million [6]

Core Viewpoint - Xerox reported disappointing earnings, with a significant drop in share price following the announcement, indicating ongoing struggles in the printing and document management sector [1]. Financial Performance - Analysts expected adjusted first-quarter earnings of approximately $0.35 per diluted share and revenue of around $1.53 billion, but actual earnings were only $0.06 per diluted share with revenue at $1.5 billion [2]. - Despite the earnings miss, management maintained its full-year guidance, although the company is undergoing significant changes, including a 15% workforce reduction announced four months ago [2]. Business Transformation - Xerox is restructuring its business by adding a new global business services (GBS) group to streamline operations and reduce costs, absorbing noncore functions from existing segments [2][3]. - The company is also divesting from unprofitable markets, particularly in South America, and considering the cancellation of underperforming product lines [4]. Future Outlook - The COO indicated that revenue is expected to decline in 2024 as cost-cutting measures are implemented, but the goal is to emerge with a more profitable business model [4]. - The CFO attributed low sales and high operating expenses in the first quarter to workforce reductions and ongoing reorganization efforts [4]. Market Performance - Over the past three years, Xerox has seen a 38% decline in stock price, reflecting the challenges faced in maintaining a viable document management business [5].

Xerox Holdings Corporation (NASDAQ:XRX) Q1 2024 Earnings Conference Call April 23, 2024 8:00 AM ET Company Participants David Beckel - VP, IR Steve Bandrowczak - CEO John Bruno - President and COO Xavier Heiss - EVP and CFO Conference Call Participants Ananda Baruah - Loop Capital Samik Chatterjee - JPMorgan Erik Woodring - Morgan Stanley Operator Thank you for standing by. Welcome to the Xerox Holdings Corporation's First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this pr ...

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Xerox Holdings Corporation (XRX) reported $1.5 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 12.4%. EPS of $0.06 for the same period compares to $0.49 a year ago.The reported revenue represents a surprise of -4.80% over the Zacks Consensus Estimate of $1.58 billion. With the consensus EPS estimate being $0.38, the EPS surprise was -84.21%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations t ...