Xerox just announced a lowered 2019 full year per share earnings. Reduced from $4.05 to $3.30-3.40!! My guess, revenue lower than forecasted, margins shrinking, and not enough savings from Project Screw It. Oh and just wait until they have to take a goodwill impairment charge for exiting the Fuji partnership. 2020 should be fun......
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The actual filing:
https://www.sec.gov/Archives/edgar/data/108772/000177045019000022/ex991xrxupdatedfy2019g.htm
Just search "SEC Xerox" to view latest filings.
https://finance.yahoo.com/news/xerox-falls-downward-guidance-2019-113300675.html
or search Yahoo news XRX.
So where does this information come from, can’t see it on any news feeds?
Maybe if this “leadership” focused on enabling sales and expanding customer relationships to grow the business vs just cut everything to lower costs, juice the stock & try to sell or merge & make a couple guys a quick buck - they would be able to report good news. But hey, What do I know?
Yowza. This news right on the heels of HPQ beating guidance for revenue and profit. In other words, business fundamentals. Unlike XRX who shows marginal EPS improvement and the street eats it up. Crazy times but cracks in the XRX charade are appearing. Strong sell recommendation.
JV arrogance driven by Iconic greed pretty much guaranteed eyeballs on XRX finances after the HP bid. I suspect they realized they would not be able to continue covering up. What remains now is for a smart analyst to dig deeper or an internal person to step forward. Tip o the iceberg if only someone has brain and access to the real books, not the ones that JV calls “the left drawer”.