https://seekingalpha.com/news/3511425-xerox-gains-bear
"Analyst Paul Coster sees a difficult path to sustaining earnings momentum with the diminishing opportunity for cost cutting in 2020 and ongoing core end-market declines."
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Q3 in a glimpse:
Xerox (NYSE:XRX) reports revenue declined 5.3% on an adjusted constant currency basis in Q3.
Equipment sales down 3.3% to $494M (-2.2% in constant currency).
Post sale revenue fell 7.3% $1.71B (-6.2% in constant currency).
Americas revenue contracted 3.7% to $1.49B (-3.6% in constant currency).
EMEA revenue slipped 10.1% to $641M (-6.8% in constant currency).
Gross margin rate fell 10 bps 40%.
Adjusted operating margin rate advanced 120 bps to 12.1%.
FY2019 Guidance: Revenue: $9.05B; GAAP EPS: $3.10 to $3.20; Adjusted operating margin rate: ~12.6% to 13.1%; Adjusted EPS: ~$4 to $4.1; Weighted average shares: ~235M; Share repurchase: $600M; Operating Cash Flow: $1,175M to $1,275M; Free Cash Flow: $1.1B to $1.2B.
XRX +1.95% premarket.
Previously: Xerox EPS beats by $0.21, beats on revenue (Oct. 29)