On Friday, Shares of Xerox Holdings Corporation (NASDAQ: XRX) rose 2.33% to $17.13. The stock recorded $16.17 as its minimum price and hit the max level of $17.22, during its most recent trading session. It traded total volume of 5,633,144 shares higher than the average volume of 2.67M shares. Xerox Holdings Corporation (NASDAQ: XRX) declared its 2022 first-quarter results.
2022 Guidance
We are maintaining our revenue and cash flow guidance for 2022. Our guidance assumes that in the second half of the year supply chain disruption will begin to subside and return to office trends will continue to improve. Our free cash flow guidance excludes payments associated with this quarter’s one-time product supply contract termination charge.
- Revenue of at least $7.10B in actual currency.
- Free cash flow of at least $400.00M.
- Return at least 50% of free cash flow to shareholders.
Non-GAAP Measures
This release refers to the following non-GAAP financial measures:
- Adjusted EPS, which excludes Restructuring and related costs, net, Amortization of intangible assets, non-service retirement-related costs, and other discrete adjustments from GAAP EPS, as applicable.
- Adjusted operating (loss) income and margin, which exclude the EPS adjustments noted above as well as the remainder of Other expenses, net from pre-tax (loss) income and margin.
- Constant currency (CC) revenue change, which excludes the effects of currency translation.
- Free cash flow, which is operating cash flow less capital expenditures.
Financial Summary
- $1.67B of revenue, down 2.5 percent year-over-year or 0.7 percent in constant currency.
- GAAP (loss) earnings per share (EPS) of $(0.38), down $0.56 year-over-year, and adjusted (loss) per share of $(0.12), down $0.34 year-over-year.
- Pre-tax margin of (5.3) percent, down 840 basis points, and adjusted operating margin of (0.2) percent, down 540 basis points year-over-year.
- $66.00M of operating cash flow, down $51.00M year-over-year.
- $50.00M of free cash flow, down $50.00M year-over-year.
XRX has the market capitalization of $2.72B and its EPS growth ratio for the past five years was -25.30%. The return on assets ratio of the Company was -3.40% while its return on investment ratio stands at -4.50%. Price to sales ratio was 0.39 while 88.60% of the stock was owned by institutional investors.
