UPDATE: Xerox Corp. (XRX) Tops Q3 EPS by 7c, Revenues Miss; Boosts Buyback to $700M (fom $500M), Lifts FY Operating CF and FCF Outlook
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Xerox Reports Progress on Key Priorities to Drive Business Improvement; Delivers Strong Cash Flow and Operating Margin Expansion
October 23, 2018 6:30 AM EDTIncreasing Full-Year Free Cash Flow Expectations
Third-Quarter 2018 Highlights:
Operating cash flow of $274 million increases $717 million or $157 million on an adjusted basis Adjusted Operating margin of 13.1 percent expands 1.0 point year-over-year GAAP EPS from continuing operations of 34 cents, down 33 cents year-over-year, driven by an incremental non-cash charge of $95 million associated with the 2017 enactment of the U.S. Tax Act Adjusted EPS of 85 cents, down 4 cents year-over-year, driven by higher year-over-year tax rate Returned $353 million to shareholders in the form of share repurchases and dividends;... More