Xerox Guides FY20 Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, workplace technology company Xerox Holdings Corp. (XRX) initiated earnings and adjusted earnings guidance for the full year 2020, consistent with three-year plan, including further earnings per share expansion and revenue trend improvement.

For fiscal 2020, the company now projects earnings from continuing operations in a range of $2.80 to $2.90 per share and adjusted earnings in a range of $3.60 to $3.70 per share on a projected revenue decline of about 4 percent at constant currency, excluding revenue from the $77 million OEM license in 2019.

The company also expects at least $300 million of share repurchases and return of at least 50 percent of annual free cash flow to shareholders in 2020.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.51 per share on a revenue decline of 4.8 percent to $8.62 billion for the year. Analysts' estimates typically exclude special items.