Xerox Holdings Corp Reiterated FY24 Revenue Decline of 3%-5% in Constant Currency Vs $6.59B Est
Portfolio Pulse from Benzinga Newsdesk
Xerox Holdings Corp has reiterated its FY24 revenue guidance, expecting a decline of 3%-5% in constant currency compared to estimates of $6.59B. The company also forecasts an adjusted operating margin of at least 7.5% and a free cash flow of at least $600 million.
April 23, 2024 | 10:35 am
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Xerox Holdings Corp expects a FY24 revenue decline of 3%-5% in constant currency, aiming for an adjusted operating margin of at least 7.5% and a free cash flow of at least $600 million.
The reiteration of a revenue decline forecast by Xerox Holdings Corp directly impacts investor sentiment towards XRX, likely leading to negative short-term price movement. The specific figures provided for revenue decline, adjusted operating margin, and free cash flow are critical for investors, as they set clear expectations for the company's financial health and operational efficiency in FY24. The negative revenue growth projection, despite being in line with previous estimates, confirms challenges in the company's operational environment, which could dampen investor enthusiasm.
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