NASDAQ$XRX
Xerox Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Xerox's financial results improved sequentially, driven by reinvention initiatives.
Xerox's Q2 2024 results show sequential improvements in adjusted operating income margin, free cash flow, and revenue trajectory, driven by strategic operating model changes. The company has revised its full-year outlook, lowering revenue and adjusted operating income guidance while reiterating its three-year adjusted operating income improvement target.
- Revenue was $1.58 billion, a 10% decrease (9.6% in constant currency).
- GAAP net income was $18 million, or $0.11 per share, up from the previous year.
- Adjusted operating margin was 5.4%, a decrease of 70 basis points year-over-year.
- Free cash flow was $115 million, an increase of $27 million year-over-year.
Headline financials
Revenue & EPS history
Xerox · Revenue · Quarterly
$1.58B
Revenue by segment
Xerox · $1.78B total across 2 segments · Q4 2021
- Post Sale Revenue$1.39B-1.9%78.4%
- Equipment Sales$384M-24.7%21.6%
Forward guidance
Xerox has lowered its 2024 revenue guidance to a range of -5% to -6% in constant currency, adjusted operating income guidance to at least 6.5%, and free cash flow guidance to at least $550 million. The company maintains its three-year target of $300 million of incremental adjusted operating income above 2023 levels and a return to double-digit adjusted operating income margin by the end of 2026.
Tailwinds
- Growing Print demand
- Growth in Digital and IT Services in the second half of the year
Headwinds
- Reduction in certain non-strategic revenue
- Lower sales of paper
- Lower financing income
- Reinvention actions
- Rising freight and product costs
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.7%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+1.7%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+39.2%
Q1 2026
Best reaction
-19.9%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +39.2% | +68.2% | +106.4% | |
| Q4 2025 | -13.0% | -6.9% | -22.7% | |
| Q3 2025 | -1.7% | -8.5% | -26.7% | |
| Q1 2025 | -1.6% | +22.7% | +10.9% | |
| Q4 2024 | -5.8% | -12.0% | -28.6% | |
| Q3 2024 | -19.9% | -19.4% | -11.9% | |
| Q2 2024 | -6.4% | -5.9% | -8.4% | |
| Q1 2024 | -12.4% | -14.7% | -16.0% | |
| Q4 2023 | +15.9% | +15.9% | +12.4% | |
| Q3 2023 | -10.2% | -9.6% | +1.1% | |
| Q2 2023 | +8.3% | +2.7% | -0.1% | |
| Q1 2023 | +13.2% | +15.3% | +2.5% | |
| Q4 2022 | -3.4% | -6.0% | -6.5% | |
| Q3 2022 | -9.0% | -9.5% | -1.0% | |
| Q2 2022 | +7.2% | +9.9% | +15.6% | |
| Q1 2022 | -13.7% | -12.0% | -13.5% | |
| Q4 2021 | -4.1% | -2.2% | -5.7% | |
| Q3 2021 | -13.5% | -13.5% | -1.8% | |
| Q2 2021 | +3.2% | +2.2% | -5.4% | |
| Q1 2021 | -3.9% | -3.7% | -6.5% | |
| Q4 2020 | +0.6% | +1.3% | +22.2% | |
| Q3 2020 | -8.9% | -8.1% | +23.6% | |
| Q2 2020 | +0.3% | +5.2% | +20.7% | |
| Q1 2020 | +8.2% | -4.4% | -5.7% | |
| Q4 2019 | +4.8% | +1.5% | -3.5% | |
| Q3 2019 | +10.8% | +8.7% | +26.0% | |
| Q2 2019 | -5.4% | -9.9% | -15.2% | |
| Q1 2019 | -4.1% | -1.0% | -5.3% | |
| Q4 2018 | +15.9% | +17.4% | +27.2% | |
| Q3 2018 | +3.7% | +3.7% | -4.6% | |
| Q2 2018 | +3.3% | +4.8% | +10.6% | |
| Q1 2018 | -3.4% | -3.4% | -6.9% | |
| Q4 2017 | +0.2% | -4.0% | -8.0% | |
| Q3 2017 | -7.9% | -8.4% | -13.9% | |
| Q2 2017 | +6.1% | +5.1% | +5.2% | |
| Q1 2017 | +0.6% | +1.8% | -1.0% | |
| Q4 2016 | +1.7% | +2.9% | +4.9% | |
| Q3 2016 | +2.1% | -0.6% | -2.0% | |
| Q2 2016 | +2.3% | +0.3% | -1.8% | |
| Q1 2016 | -12.2% | — | — | |
| Q4 2015 | +2.1% | — | — | |
| Q3 2015 | -10.1% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -11.6% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | -3.2% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | +4.3% | — | — | |
| Q4 2013 | -9.8% | — | — | |
| Q3 2013 | -9.5% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | -2.7% | — | — | |
| Q4 2012 | +7.4% | — | — | |
| Q3 2012 | +0.1% | — | — | |
| Q2 2012 | +0.0% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | +3.0% | — | — | |
| Q3 2011 | -8.5% | — | — | |
| Q2 2011 | +4.5% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2010 | +2.0% | — | — | |
| Q3 2010 | +2.0% | — | — | |
| Q2 2010 | -4.4% | — | — | |
| Q1 2010 | +3.1% | — | — |
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