Xerox Releases Third-Quarter Results

Financial Results
• $106 million of operating cash flow from continuing operations, down $242 million year-over-year and up $72 million from the second quarter
• $88 million of free cash flow, down $243 million year-over-year and up $73 million from the second quarter
• Adjusted operating margin of 7.4 percent, down 460 basis points year-over-year and up 320 basis points from the second quarter
• $1.77 billion of revenue, down 18.9 percent year-over-year or 19.7 percent in constant currency and up $302 million from the second quarter
• GAAP earnings per share (EPS) from continuing operations of $0.41 per share, down $0.27 yearover-year and up $0.30 from the second quarter, and adjusted EPS of $0.48, down $0.32 yearover-year and up $0.33 from the second quarter

“The flexibility and financial discipline we have built in our company enabled us to increase earnings and cash flow sequentially. While we can’t reliably predict the ongoing economic impact of the pandemic, we are prepared to respond however events unfold and are committed to delivering positive cash flow and earnings in the fourth quarter. Investments in digital solutions and services are paying off as companies prepare for a more hybrid work experience that shifts seamlessly between the office and home,” said Xerox Vice Chairman and CEO John Visentin.

Business Highlights
• Added or renewed contracts with Fortune 500 and public sector clients such as Aflac, Bell Canada, Mizuho Bank, the State of Illinois, the Texas Health and Human Services Commission, Purolator, the Union of Public Purchasing Groups in France and the Government of Bangladesh 2
• Grew market share in production in the region Xerox serves and grew share in entry segments in both the Americas and EMEA. Maintained the top market share position in production in the Americas and EMEA, and maintained overall market share leadership for equipment sales revenue in the Americas, according to the most recent IDC data.2
• Awarded a contract from the Defense Advanced Research Projects Agency to develop the next phase of the Ocean of Things, its project to expand what scientists know about the seas
• Expanded the company’s software portfolio with the launch of DocuShare® Go, a cloud-based, SaaS content management platform focused on the small and medium-sized business that automates how users organize, share, collaborate and back up business-critical content
• Honored with several industry awards including “Best Innovation Project of the Year” by Health Tech Digital and named one of the “World’s Most Sustainably Managed Companies” by The Wall Street Journal
• Established a new diversity, inclusion and belonging roadmap, focusing on areas where Xerox can make the biggest impact within the company and society, including a partnership with A Better Chance, a nonprofit dedicated to increasing education, access and opportunity for young people of color
more detail at: https://s3.amazonaws.com/cms.ipressroom.com/84/files/20209/202010262319/3Q2020-XRX-News-Release.pdf?Signature=KFhwnJbmW1SS8J6%2BSTgIlwxS578%3D&Expires=1603883991&AWSAccessKeyId=AKIAJX7XEOOELCYGIVDQ&versionId=vhpQqn1PImYZy_9M5a9RAt5Hb8BTb7mw&response-content-disposition=application/pdf

Related Posts

Arandell Hurricane Harvey Update #2

Effective over the Labor Day Weekend, the USPS’s North Houston P&DC that services the entire Greater Houston Area has begun resuming all operations. This includes all processing operations for Marketing / Standard Mail. This processing facility serves all Post Office Delivery Units within the 3-Digit ZIP Codes of 770, 772, 773, 774, 775, 776, 777 and 778. Furthermore, all Post Office Delivery Units have resumed normal operation with the exception of a handful, whose services are being performed out of alternative delivery facilities.

CJK Group Invests in Two Komori G40 Perfectors to Support Growing Content Production Facilities (whattheythink.com)

CJK Group, Inc. has purchased two eight-color Komori Lithrone G40 perfecting presses (GL840P) for installation at two of its printing plants: Sheridan KY in Versailles, Kentucky and Hess Print Solutions in Brimfield, Ohio. CJK Group has been successful in redefining the entire book supply chain to overcome the challenges book and content publishers have experienced in this market. The company believes strongly that advances in print technology that allow for increased customization, shorter runs and faster turnaround will spur dramatic growth in this sector by giving today’s publishers, educators, catalogers and information providers the option to partner with exceptionally creative print providers that can produce their work. With this focus as its driving force, CJK Group has grown quickly over the last decade through numerous acquisitions to build what is now a multifaceted organization with extensive offset, digital and fulfillment production capabilities.

Heeter Acquires Laurel Print & Graphics (piworld.com)

Heeter, a full-service provider of secure print, direct mail, and fulfillment solutions, announced that it acquired Laurel Print & Graphics of Pittsburgh, Pennsylvania. The combined company broadens its offerings in large format print and signage, which couples well with one of the largest assortments of commercial print and digital solutions in the Mid-Atlantic region. Scott Heeter, CEO of Heeter, said “Laurel’s leadership, skilled team and capabilities in large format print and signage are excellent additions to Heeter’s capabilities. This acquisition allows both companies to offer customers a broader portfolio of services to meet their marketing and sales needs.” Keith Jones, president of Laurel, commented, “We’ve enjoyed a strong business partnership with Heeter for many years. As we look to the future, it made sense to join forces to better serve our client base with an extended set of products.”
Back To Top
×Close search
Search