Xerox Releases Second-Quarter Results

NORWALK, Conn., July 27, 2021 — Xerox Holdings Corporation (NYSE: XRX) today announced 2021 second-quarter results.

“We saw growing demand for our products and services in the second quarter. Increased equipment sales and print volumes in many regions are consistent with a continuing, gradual return to the office and give us confidence to reaffirm our revenue and cash flow guidance for the year,” said Xerox Vice Chairman and CEO John Visentin. “Over the past 18 months, our team has successfully managed through an unprecedented level of uncertainty to continue delivering value to our clients. This focus will continue in the second half of the year as we manage through global supply chain disruption while investing for sustainable, long-term growth.”

Financial Summary

• $1.79 billion of revenue, up 22.4 percent year-over-year or 18.1 percent in constant currency.

• GAAP earnings per share (EPS) of $0.46, up $0.35 year-over-year, and adjusted EPS of $0.47, up $0.32 year-over-year.

• Adjusted operating margin of 7.0 percent, up 280 basis points year-over-year.

• $214 million of operating cash flow, up $180 million year-over-year.

• $198 million of free cash flow, up $183 million year-over-year

Xerox Q2 2021

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