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Investors might want to bet on Xerox Holdings Corporation (XRX) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. ...

NORWALK, Conn.--(BUSINESS WIRE)--Xerox Holdings Corporation (NASDAQ: XRX) today announced a collection of new solutions and services designed to accelerate digital transformation, productivity, and security in the hybrid workplace, while saving time and reducing IT hassles. “Xerox is driving innovation in the areas where our clients need it most,” said Terry Antinora, vice president and general manager of global offering solutions at Xerox. “With our focus on user experience, comprehensive hardware, and ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style ...

Xerox Holdings Corporation (XRX) reported lower-than-expected fourth-quarter 2023 results, wherein earnings and revenues declined from the year-ago quarter. Despite the earnings miss, the stock gained 5% since the company’s earnings release on Jan 25.Adjusted earnings per share (EPS) of 43 cents missed the Zacks Consensus Estimate by 15.7% and decreased 51.7% year over year. Total revenues of $1.77 billion lagged the consensus mark by 1.6% and decreased 9.1% year over year on a reported basis. Revenues decl ...

Xerox Holdings (XRX 11.56%) shares powered 12.6% higher through 12:20 p.m. ET on Thursday, despite missing analyst targets for both sales and earnings.Heading into its fiscal Q4 report, analysts had predicted this office printer company would suffer a steep decline in earnings versus last year -- and they were right. Instead of the $0.89 per-share adjusted profit that Xerox earned in Q4 2022, the company reported just $0.43 per share in adjusted earnings this time around. That was a decline of more than hal ...

Financial Data and Key Metrics Changes - Revenue for 2023 was $6.89 billion, a decline of 3.1% in actual currency and 3.3% in constant currency, with adjusted EPS at $1.82, an increase of $0.70 year-over-year [5][6] - Free cash flow reached $649 million, an increase of $547 million over 2022, and adjusted operating margin improved to 5.6%, up 170 basis points year-over-year [6][11] - In Q4, adjusted EPS was $0.43, down $0.46 from the prior year, with a GAAP loss per share of $0.50, reflecting a $78 million after-tax restructuring charge [26][36] Business Line Data and Key Metrics Changes - Equipment sales in Q4 were $458 million, down 17.3% year-over-year, primarily due to backlog reductions [26][27] - Post-sales revenue was $1.3 billion, a decline of 5.8% in actual currency year-over-year, impacted by non-strategic revenue reductions [27][28] - FITTLE origination volume declined 25% year-over-year, while captive product origination increased by 2% [31] Market Data and Key Metrics Changes - Revenue from core businesses grew low-single-digit in Q4 when excluding the effects of backlog and non-strategic items, indicating stable demand [29] - Both regions experienced revenue declines in actual and constant currency, with significant impacts from non-strategic items [28][29] Company Strategy and Development Direction - The company is focused on a multi-year strategy called "reinvention" aimed at repositioning for sustainable growth, emphasizing client success and operational efficiency [6][11] - A significant reorganization was announced, shifting to a business unit-led operating model to enhance client-centricity and operational efficiency [12][20] - The company aims to achieve $300 million in net adjusted operating income improvements above 2023 levels by 2026, with over one-third expected in 2024 [13][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macroeconomic environment but expressed confidence in achieving profit and cash flow targets through operational discipline [4][6] - The company expects revenue to decline by 3% to 5% in constant currency in 2024, with core business revenue expected to be roughly flat year-over-year [34][36] - Free cash flow is projected to be at least $600 million in 2024, with plans for strategic reinvestment and shareholder returns [36][69] Other Important Information - The company reduced total debt by more than $600 million in 2023 and plans to continue this trend while maintaining a balanced capital structure [11][33] - The focus on client outcomes has improved the Net Promoter Score and revenue renewal rates above 100% across large account contract renewals [9][10] Q&A Session Summary Question: Revenue headwinds and their timeline for resolution - Management indicated that backlog impacts are expected to normalize by the end of Q2 2024, with other non-strategic items phasing out throughout the year [40][41] Question: Profit forecast for 2024 - Management confirmed expectations for operating profit to increase by $80 million to $100 million year-over-year, driven by margin improvements [42][43] Question: Revenue guidance context - Management noted that while there are macroeconomic challenges, strong signings and backlog in services provide a foundation for stability and growth [51][52] Question: Cash flow guidance for 2024 - Management explained that the $600 million cash flow guidance accounts for restructuring costs and increased pension contributions, with a conversion rate from operating income to free cash flow expected to remain strong [53][54] Question: Renewal rates for large and SMB customers - Management stated that large customers represent about one-third of overall revenue, with significant opportunities for growth in both large and SMB segments [56][57] Question: Trajectory of gross margins and OpEx - Management expects slight expansion in gross margins and significant improvements in OpEx due to restructuring and simplification efforts [60][62] Question: Capital allocation priorities - Management confirmed that there are no plans for buybacks in 2024, focusing instead on strategic reinvestment and debt reduction [66][67]

Xerox Holdings Corporation (XRX) reported $1.77 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 9.1%. EPS of $0.43 for the same period compares to $0.89 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.79 billion, representing a surprise of -1.60%. The company delivered an EPS surprise of -15.69%, with the consensus EPS estimate being $0.51.While investors scrutinize revenue and earnings changes year-over-year and how they compar ...

Xerox Holdings Corporation (XRX) came out with quarterly earnings of $0.43 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.69%. A quarter ago, it was expected that this company would post earnings of $0.34 per share when it actually produced earnings of $0.46, delivering a surprise of 35.29%.Over the last four quarters, t ...

Earnings Presentation Q4 2023 Results 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 identify forward-looking s ...