logo
Plus   Neg
Share
Email

Xerox Guides FY20 Above Estimates - Quick Facts

While reporting financial results for the fourth quarter on Tuesday, workplace technology company Xerox Holdings Corp. (XRX) initiated earnings and adjusted earnings guidance for the full year 2020, consistent with three-year plan, including further earnings per share expansion and revenue trend improvement.

For fiscal 2020, the company now projects earnings from continuing operations in a range of $2.80 to $2.90 per share and adjusted earnings in a range of $3.60 to $3.70 per share on a projected revenue decline of about 4 percent at constant currency, excluding revenue from the $77 million OEM license in 2019.

The company also expects at least $300 million of share repurchases and return of at least 50 percent of annual free cash flow to shareholders in 2020.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.51 per share on a revenue decline of 4.8 percent to $8.62 billion for the year. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Global PC shipments returned to growth in the second quarter of 2020 after seeing a significant decline in the preceding first quarter due to COVID-19 related supply-chain disruptions, according to reports by two research firms. The PC market returned to growth in the quarter as production ramped up and vendors restocked their supplies to near-normal levels. The bankruptcy filing of America's oldest apparel retailer Brooks Brothers has ignited significant interest from potential buyers for the brand. WHP Global and a venture backed by Authentic Brands Group LLC and Simon Property Group, Inc., are reportedly considering bids for the retailer. WHP Global owns the ANNE KLEIN and JOSEPH ABBOUD brands. Sundial Herbal Products has recalled around 65 products, which were misbranded and currently unapproved drugs, the U.S. Food and Drug Administration said in a statement. The recall follows an order by a federal judge in June to stop distributing the company's unapproved new drugs. The affected items include herbal products and dietary supplements.
Follow RTT