Xerox Corp. (XRX) Tops Q3 EPS by 4c, Trims FY Revenue Guidance
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Xerox Releases Third-Quarter Results
October 26, 2021 6:30 AM EDTFinancial Summary
$1.76 billion of revenue, down 0.5 percent year-over-year or down 1.6 percent in constant currency. GAAP earnings per share (EPS) of $0.48, up $0.07 year-over-year, and adjusted EPS of $0.48, flat year-over-year. Adjusted operating margin of 4.2 percent, down 320 basis points year-over-year. $100 million of operating cash flow, down $6 million year-over-year. $81 million of free cash flow, down $7 million year-over-year. Reduced FY21 revenue guidance to approximately $7.1 billion in actual currency ($7.0 billion in constant currency). Reaffirmed free cash flow guidance of at least $500 million. Completed expected $500 million of buybacks for 2021; Board approves an additional $500 million... More