Xerox Releases 3Q 2021 Results

Xerox Holdings Corporation announced 2021 third-quarter results. The company reported $1.76 billion of revenue, down 0.5% year-over-year or down 1.6% in constant currency. Adjusted operating margin was 4.2%, down 320 basis points year-over-year, and operating cash flow was $100 million, down $6 million year-over-year. Free cash flow was $81 million, down $7 million year-over-year.


“Our revenue this quarter was essentially flat year-over-year, despite a deterioration in global supply chain conditions and the Delta variant, which caused delays in many of our clients’ plans to return employees to the workplace,” said John Visentin, Xerox vice chairman and CEO. “As a result of these ongoing challenges, we are revising our revenue guidance lower, but we are maintaining our free cash flow guidance of at least $500 million. Our focus on generating cash allows us to preserve, and in some cases increase, investments in innovation, while continuing to return more than 50% of free cash to shareholders and pursue M&A.”