Xerox Cuts FY24 Outlook: See Revenue Decline of 10% (5%-6% Prior), Adj. Op Margin Of 5% (At least 6.5% Prior), FCF $450M-$500M ($550M Prior)
Portfolio Pulse from Benzinga Newsdesk
Xerox has revised its FY24 outlook, projecting a 10% revenue decline, a 5% adjusted operating margin, and free cash flow between $450M-$500M. This update reflects reduced non-strategic revenue and lower equipment sales.
October 29, 2024 | 10:34 am
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Xerox has lowered its FY24 financial guidance, expecting a 10% revenue decline, a 5% adjusted operating margin, and free cash flow between $450M-$500M. The revision is due to reduced non-strategic revenue and lower equipment sales.
Xerox's revised guidance indicates a significant decline in expected revenue and operating margin, which is likely to negatively impact investor sentiment and the stock price in the short term. The reduction in non-strategic revenue and lower equipment sales are key factors in this outlook.
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