Earnings summaries and quarterly performance for Xerox Holdings.
Executive leadership at Xerox Holdings.
Board of directors at Xerox Holdings.
Research analysts who have asked questions during Xerox Holdings earnings calls.
AB
Ananda Baruah
Loop Capital Markets LLC
6 questions for XRX
Also covers: BURU, CRUS, DDD +15 more
Erik Woodring
Morgan Stanley
5 questions for XRX
Also covers: AAPL, CDW, CRCT +19 more
Michael Cadiz
Citigroup
2 questions for XRX
Also covers: CRCT, NTAP, PSTG
SC
Samik Chatterjee
JPMorgan Chase & Co.
2 questions for XRX
Also covers: AAPL, ANET, APH +32 more
Maya Neuman
Morgan Stanley
1 question for XRX
Also covers: CDW, CRCT, HPQ +4 more
PT
Priyanka Thapa
J.P. Morgan
1 question for XRX
Also covers: FFIV, JAMF, KEYS
Recent press releases and 8-K filings for XRX.
Xerox Holdings Corporation Reports Q4 and Full-Year 2025 Results and Provides 2026 Guidance
XRX
Earnings
Guidance Update
Debt Issuance
- Xerox Holdings Corporation reported Q4 2025 revenue of $2.03 billion, an increase of approximately 26% in actual currency due to the Lexmark and ITsavvy acquisitions, although pro forma revenue declined 9%. Adjusted loss per share for the quarter was $0.10, and free cash flow was $184 million.
- For the full year 2025, revenue reached $7.02 billion, with an adjusted loss per share of $0.60 and free cash flow of $133 million.
- The company provided 2026 guidance, projecting revenue to be greater than $7.5 billion (approximately 7% growth), adjusted operating income between $450 million and $500 million (an increase of over $200 million versus 2025), and free cash flow of approximately $250 million.
- Macroeconomic headwinds, including a recent spike in DRAM prices, are expected to persist, but Xerox anticipates improving trends in 2026, driven by integration synergies from Lexmark and ITsavvy, and reinvention savings.
- A special pro rata distribution of warrants was announced for holders of common stock, preferred stock, and convertible notes, aimed at rewarding shareholders and enabling immediate leverage reduction.
6 days ago
Xerox Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
XRX
Earnings
Guidance Update
M&A
- Xerox reported Q4 2025 revenue of $2.03 billion, an increase of 26% in actual currency, though pro forma revenue declined 9%. For the full year 2025, revenue reached $7.02 billion, with an adjusted loss per share of $0.60 and free cash flow of $133 million.
- The company provided 2026 guidance, projecting revenue greater than $7.5 billion (approximately 7% growth), adjusted operating income between $450 million-$500 million (an increase of over $200 million), and free cash flow of approximately $250 million.
- Xerox is targeting at least $300 million in cumulative run rate gross cost synergies from the Lexmark acquisition and over $1 billion in profit improvement from its reinvention program. Net debt decreased by $366 million since the Lexmark transaction, and a special pro rata distribution of warrants was announced to enhance balance sheet flexibility.
- Macroeconomic headwinds continue, and a recent spike in DRAM prices is expected to impact costs, particularly for the IT solutions business, with a larger effect anticipated in the second half of 2026. Chuck Butler was also appointed as the new Chief Financial Officer.
6 days ago
Xerox Reports Q4 and Full-Year 2025 Results, Issues 2026 Guidance
XRX
Earnings
Guidance Update
M&A
- For the full year 2025, Xerox reported revenue of $7.02 billion, an adjusted operating margin of 3.5%, and free cash flow of $133 million.
- In Q4 2025, revenue reached $2,028 million, with an adjusted operating margin of 5.0% and an adjusted earnings per share of ($0.10).
- For the full year 2025, adjusted earnings per share was ($8.25) and GAAP loss per share was ($0.60).
- Xerox issued full-year 2026 guidance, projecting revenue above $7.5 billion in constant currency, adjusted operating income of $450-500 million, and free cash flow of ~$250 million. The company anticipates >$1 billion in identified gross savings/profit improvement from its Reinvention program and Lexmark integration, contributing to an expected $250-300 million in gross cost reductions for 2026.
6 days ago
Xerox Holdings Corporation Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook
XRX
Earnings
Guidance Update
M&A
- Xerox Holdings Corporation reported Q4 2025 revenue of $2.03 billion, an increase of approximately 26% in actual currency, primarily driven by the Lexmark and ITsavvy acquisitions, though pro forma revenue declined 9%. The company recorded an adjusted loss per share of $0.10 and generated $184 million in free cash flow for the quarter.
- For the full year 2025, revenue reached $7.02 billion, an increase of approximately 13% in actual currency, with an adjusted loss per share of $0.60 and $133 million in free cash flow.
- For 2026, Xerox anticipates revenue greater than $7.5 billion (approximately 7% growth), adjusted operating income between $450 million and $500 million (an increase of over $200 million), and approximately $250 million in free cash flow.
- The company is focused on realizing benefits from the Lexmark and ITsavvy acquisitions, leveraging AI for operational efficiencies, and prioritizing debt reduction to a medium-term target of approximately 3x trailing 12 months EBITDA. A special pro rata distribution of warrants to shareholders was also announced.
6 days ago
Xerox Holdings Corporation Announces Q4 and Full-Year 2025 Results and 2026 Guidance
XRX
Earnings
Guidance Update
M&A
- Xerox Holdings Corporation reported Q4 2025 revenue of $2.03 billion, a 25.7% increase year-over-year, and a GAAP net loss of $(73) million or $(0.60) per share.
- For the full year 2025, revenue reached $7.02 billion, up 12.9%, with a GAAP net loss of $(1.03) billion or $(8.25) per share.
- The company provided 2026 guidance, projecting revenue above $7.5 billion, adjusted operating income between $450 million and $500 million, and free cash flow of approximately $250 million.
- Strategic progress includes the Lexmark integration advancing ahead of plan, reaffirming a $300 million integration synergy target, and $366 million of debt paid down since the Lexmark acquisition on July 1, 2025.
6 days ago
Xerox Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
XRX
Earnings
Guidance Update
M&A
- Xerox reported Q4 2025 revenue of $2.03 billion, a 25.7% increase year-over-year, and a GAAP net loss of $(73) million or $(0.60) per share. For full-year 2025, revenue was $7.02 billion, up 12.9%, with a GAAP net loss of $(1.03) billion or $(8.25) per share.
- The company provided 2026 guidance, projecting revenue above $7.5 billion, adjusted operating income of $450-$500 million, and free cash flow of approximately $250 million.
- Strategic milestones include the Lexmark integration advancing ahead of plan, with a reaffirmation of at least $300 million integration synergy target, and $366 million of debt paid down since the Lexmark acquisition on July 1, 2025.
- Despite macroeconomic challenges, Xerox achieved better-than-expected operating income and free cash flow performance in Q4 2025, with demand trends beginning to stabilize and a larger pipeline for 2026.
6 days ago
Xerox Announces Pro-Rata Warrant Distribution
XRX
Dividends
Debt Issuance
New Projects/Investments
- Xerox Holdings Corporation announced a pro-rata distribution of warrants to holders of its common stock, Series A Convertible Perpetual Voting Preferred Stock, and 3.75% Convertible Senior Notes due 2030, as part of its capital structure and balance sheet optimization initiatives.
- The Record Date for common stockholders is February 9, 2026, with the Distribution Date on or about February 11, 2026. Common stockholders will receive one warrant for every two shares held.
- Each warrant entitles the holder to purchase one share of common stock at an exercise price of $8.00 per share and will expire two years from the Distribution Date, unless an early expiration condition is met.
- Warrants can be exercised with cash or by delivering designated Xerox debt instruments at face value, with an expected debt reduction of approximately $600 million if all warrants are exercised using Designated Notes.
- The warrants are expected to be transferable and listed for trading on or about February 11, 2026.
7 days ago
Xerox Announces Pro Rata Warrant Distribution
XRX
- Xerox Holdings Corporation announced a pro-rata distribution of warrants to holders of its common stock, Series A Convertible Perpetual Voting Preferred Stock, and 3.75% Convertible Senior Notes due 2030, aiming to enhance shareholder value and accelerate deleveraging.
- Holders of record of common stock as of February 9, 2026, will receive one warrant for every two shares held, with the distribution occurring on or about February 11, 2026.
- Each warrant will entitle the holder to purchase one share of Common Stock at an exercise price of $8.00 per share.
- The warrants will have an expiration date of two years from the Distribution Date, unless an early expiration condition is met.
- Warrants can be exercised for cash or by delivering designated outstanding Xerox debt securities, which helps reduce the company's outstanding leverage.
7 days ago
Xerox Holdings Corporation Details ITsavvy and Lexmark Acquisitions and Pro Forma Financials
XRX
M&A
Debt Issuance
Accounting Changes
- Xerox Holdings Corporation completed the acquisition of ITsavvy Acquisition Company on November 20, 2024, for a total consideration of $405 million, and the acquisition of Lexmark International II, LLC on July 1, 2025, for $1.5 billion.
- The Lexmark acquisition was financed through a combination of $500 million in senior secured second lien notes, approximately $323 million in assumed borrowings, $250 million in senior unsecured notes, a $11 million pre-funded warrant, and existing liquidity.
- The unaudited pro forma condensed combined financial information shows total revenues of $5,934 million and a net loss attributable to common shareholders of $(943) million for the nine months ended September 30, 2025. For the year ended December 31, 2024, pro forma combined total revenues were $8,620 million and the net loss attributable to common shareholders was $(1,656) million.
Jan 21, 2026, 2:17 AM
Xerox and Lexmark Debut Unified Retail Technology Solutions at NRF 2026
XRX
Product Launch
New Projects/Investments
M&A
- Xerox and Lexmark, a newly combined company following Xerox's 2025 acquisition of Lexmark, debuted a unified suite of retail technology solutions at NRF 2026, marking their first joint industry appearance.
- The offering integrates Xerox's strengths in IT solutions, production print, and digital workflow with Lexmark's expertise in store operations, retail devices, signage solutions, and vision AI.
- This unified suite provides end-to-end innovation for retailers, addressing the anticipated 64% growth in AI-driven technology investment in the coming year.
- The solutions are structured around "See It, Show It, Support It, Scale It," covering areas such as vision AI for monitoring, dynamic signage, core business solutions, and scalable digital publishing.
Jan 11, 2026, 1:00 PM
Quarterly earnings call transcripts for Xerox Holdings.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more