Fri, Jan. 30, 9:52 AM
- Xerox (NYSE:XRX) reports Services revenue $2.73B (+1.45%) and Document technology revenue $2.35B (-8.17%).
- Equipment sales declined 11.25% to $860M; Annuity revenue fell 1.53% to $4.17B.
- Gross margin rate +10 bps to 32.1%.
- SG&A ratio declined 90 bps to 18.7%.
- Operating margin rate +100 bps to 10.4%.
- FQ1 Guidance: Diluted EPS: $0.16 to $0.18; Adjusted EPS: $0.20 to $0.22.
- FY2015 Guidance: Diluted EPS: $0.83 to $0.89; Adjusted EPS: $1.00 to $1.06; Cash flow from operations: $1.7B to $1.9B; Free cash flow: $1.3B to $1.5B.
- Q4 results
Fri, Jan. 30, 7:03 AM
Thu, Jan. 29, 5:30 PM
Nov. 11, 2014, 8:35 AM
- Ahead of its annual investor conference, Xerox (NYSE:XRX) is setting 2015 EPS guidance of $1.11-$1.17, below a $1.18 consensus. 2014 EPS guidance of $1.11-$1.13 is reiterated; consensus is at $1.12. Pension settlement expense is expected to have a $0.06 impact on 2015 EPS.
- Xerox is also adding $1.5B to its buyback authorization (good for repurchasing 10% of shares at current levels), and promising to spend at least $500M of it next year.
- In addition, the company "anticipates spending up to $500 million on acquisitions and approximately $300 million on dividends" next year. 2015 operating cash flow guidance is set at $1.9B-$2.1B; 2014 guidance remains at $1.8B-$2B.
- XRX -0.8% premarket.
Oct. 22, 2014, 9:30 AM
- Xerox (NYSE:XRX) Q3 Equipment Sales of $748M (-8% Y/Y); Annuity revenue $4.4B (-1% Y/Y).
- Gross Margin -700 bps to 30.8%.
- R&D 2.7% of revenue.
- Operating margin +100 bps to 9.5%.
- EPS guidance: Q4 adj EPS $0.30 - 0.32 vs. $0.31 consensus; Full Year adj. EPS of $1.11 - 1.13 vs. consensus of $1.11.
- Previously: Xerox beats by $0.01, misses on revenue
Oct. 22, 2014, 7:05 AM
Oct. 21, 2014, 5:30 PM
Oct. 21, 2014, 2:16 PM
- Lexmark's (NYSE:LXK) big Q3 beat is overshadowing its ho-hum guidance: The printer vendor expects Q4 revenue to be down 2%-4% Y/Y, and EPS to be in a range of $1.10-$1.20. Consensus is for a 3.8% revenue drop and EPS of $1.18.
- With document management software firm ReadSoft (acquired for $250M) contributing $16M from Aug. 19 to quarter's end, software/other revenue rose 23% Y/Y to $132M. The Perceptive Software unit (includes ReadSoft) accounted for $86M of the total.
- Hardware revenue (drives future supplies revenue) rose 8% to $196M, while supplies revenue fell 2% thanks to a 29% drop in inkjet exit revenue to $60M. Laser supplies revenue rose 2% to $533M.
- Gross margin fell 60 bps to 40.4%, and opex rose 5% to $276M. $18M was spent on buybacks.
- Copier/printer vendor Xerox (NYSE:XRX) is outperforming ahead of tomorrow's Q3 report.
Jul. 25, 2014, 9:22 AM
- Xerox (NYSE:XRX) expects Q3 EPS of $0.25-$0.27, in-line with a $0.26 consensus. Full-year EPS guidance has been tweaked to $1.09-$1.13 from a prior $1.07-$1.13; consensus is at $1.10.
- $204M was spent on buybacks in Q2 vs. $275M in Q1. Op. cash flow was $325M.
- Document Technology revenue (printers/scanners and software - 40% of total revenue) fell 6% Y/Y (contributed to the revenue miss) after dropping 4% in Q1. Services (57% of revenue) grew 2% after posting flat growth in Q1.
- Document Technology was hurt by a 9% drop in equipment sales; factors included emerging markets weakness, price cuts, and tough comps due to 2013 product launches. Services saw healthy commercial and document outsourcing growth, but margin improvement was "muted" due to government healthcare issues (previous).
- Gross margin fell 70 bps Y/Y to 30.8%. SG&A spend fell to 18.4% of revenue from 19.3% a year ago (helped with the EPS beat), and R&D spend to 2.7% from 2.8%.
- Q2 results, PR
Jul. 25, 2014, 7:01 AM
Jul. 24, 2014, 5:30 PM
Apr. 22, 2014, 9:37 AM
- Citing "increased implementation costs in government healthcare," Xerox (XRX -0.9%) expects Q2 EPS of $0.25-$0.27, below a $0.28 consensus. Full-year EPS guidance is now at $1.07-$.1.13, down from a prior $1.10-$1.16 and largely below a $1.13 consensus.
- Xerox has been seen as an Obamacare beneficiary: The company has landed a slew of IT services contracts from state governments to help implement the Affordable Care Act.
- Xerox is raising its 2014 buyback forecast from at least $500M to at least $700M. $275M was spent on buybacks in Q1.
- Services revenue (57% of total) was flat Y/Y in Q1, same as in Q4. Document Technology sales (40% of total, includes printers/copiers and software) fell 4% vs. 6% in Q4. Financing revenue fell 15% vs. 18%.
- Gross margin fell 30 bps Y/Y to 30.2%. R&D fell to 2.8% of revenue from 3%, and SG&A to 18.8% of revenue from 20.0%. Op. margin rose 110 bps to 8.6%.
- Q1 results, PR
Apr. 22, 2014, 7:03 AM
Apr. 22, 2014, 12:05 AM
Apr. 21, 2014, 5:30 PM
Jan. 24, 2014, 7:02 AM
XRX vs. ETF Alternatives
Xerox Corporation is engaged in business process and document management solutions. It provides services, technology and expertise to small businesses to large enterprises, to focus on their core business and operate more effectively.
Other News & PR