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Xerox (XRX) Q1 Earnings Surpass Estimates, Revenues Lag

Zacks Equity Research

Xerox Corporation XRX reported first-quarter 2019 earnings per share of $91 cents (on an adjusted basis) which beat the Zacks Consensus Estimate by 6 cents. Earnings increased by 23 cents year over year.

How Was the Estimate Revision Trend?

Investors should note that the Zacks Consensus Estimate for Xerox’s first-quarter 2019 earnings remained unchanged over the last 30 days.

The company has a disappointing earnings history having lagged the Zacks Consensus Estimate in three of the last four quarters, the average miss being 1.8%.

Revenues Lower Than Expected

Xerox recorded total revenues of $2,206 million which lagged the Zacks Consensus Estimate of $2,321 million. Also, revenues compared unfavorably with the year-ago figure of $2,435 million.

Xerox Corporation Price

Xerox Corporation Price | Xerox Corporation Quote

Key Stats to Note: Operating cash flow of $226 million increased $10 million year over year. Free cash flow of $211 million increased $13 million year over year.

Zacks Rank: Currently, Xerox has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Check back later for our full write up on this Xerox earnings report later!

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