- Xerox Holdings Corp XRX reported a fourth-quarter FY21 sales decline of 7.9% year-on-year, to $1.78 billion, missing the consensus of $1.82 billion.
- Adjusted EPS of $0.34 beat the consensus of $0.33.
- Equipment sales declined 24.7% Y/Y, while Post sale revenue decreased 1.9% Y/Y.
- Sales in the Americas declined 9.3% Y/Y, and EMEA decreased 5.8%.
- Margins: The gross margin contracted 330 basis points Y/Y to 32.9%. The adjusted operating margin shrank 470 basis points to 4.8%.
- Xerox held $1.9 billion in cash and equivalents. Operating cash flow amounted to $198 million during the quarter.
- Outlook: Xerox expects to grow revenue in 2022. The company sees FY22 revenue of $7.1 billion in actual currency versus the consensus of $7 billion.
- Price Action: XRX shares traded lower by 0.38% at $20.90 in the premarket session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in