Xerox Boosts FY19 Earnings Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, Xerox Holdings Corp. (XRX) raised its earnings and adjusted earnings guidance for the full year 2019.

For fiscal 2019, the company now projects earnings in a range of $3.10 to $3.20per share and adjusted earnings in a range of $4.00 to $4.10 per share on revenues of $9.05 billion.

Previously, the company expects earnings in the range of $2.90 to $3.05 per share and adjusted earnings in the range of $3.80 to $3.95 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.89 per share on a revenue decline of 7.3 percent to $9.11 billion for the year. Analysts' estimates typically exclude special items.

Further, the company said it is on track to drive gross savings in 2019 of at least $640 million under Project Own It, Xerox's enterprise-wide initiative to simplify operations, drive continuous improvement and free up capital to reinvest in the business.