Xerox Holdings Corporation

Latest Results (11.10.2025):

Xerox Holdings Corporation reported its financial results for the third quarter of 2023, demonstrating a mixed performance with declining revenue but significant improvements in net income and cash flow. The company also announced its Reinvention initiative, aiming to enhance operational efficiency and profitability in the coming years.

Revenue Decline

Revenue for Q3 2023 was $1.65 billion, representing a decrease of 5.7 percent year-over-year, or 7.4 percent in constant currency. This decline reflects challenges in the market environment affecting Xerox's sales performance.

Net Income Growth

GAAP net income rose significantly to $49 million, or $0.28 per share, up by $432 million or $2.76 per share compared to the same period last year. Adjusted net income also increased to $77 million, or $0.46 per share, marking a rise of $44 million or $0.27 per share year-over-year.

Improved Operating Margin

The adjusted operating margin improved to 4.1 percent, up by 40 basis points year-over-year. This enhancement indicates better cost management and operational efficiency within the company.

Increased Cash Flow

Operating cash flow surged to $124 million, an increase of $132 million year-over-year. Additionally, free cash flow reached $112 million, up by $130 million compared to the previous year, demonstrating strong cash generation capabilities.

Reinvention Initiative

Xerox announced its Reinvention strategy, which is expected to deliver an improvement in adjusted operating income of at least $300 million by 2026. This initiative focuses on transforming the company's business model to drive long-term growth and profitability.