On November 13, 2026, Xerox Holdings Corporation completed an exchange of $173,679,000 principal of 5.500% Senior Notes due 2028 for $121,086,000 of 10.250% Senior Secured First Lien Notes due 2030 and 3,872,062 shares, leaving $382,456,000 outstanding.
XRX · Xerox Holdings Corp
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Xerox Holdings Corporation registered 3,872,062 common shares for resale by selling stockholders in connection with a planned November 13, 2026 exchange of 5.500% Senior Notes due 2028, and will receive no proceeds.
Xerox Holdings reported third-quarter revenue of $1.87 billion, down 4.7%, and a net loss of $(1,015) million, including a $959 million pre-tax goodwill impairment charge. Adjusted operating income margin rose to 6.6% from 3.3%.
Xerox Holdings Corporation registered 3,872,062 common shares for resale after holders exchange 5.500% Senior Notes due 2028 for 10.250% Senior Secured First Lien Notes due 2030 and stock; it receives no proceeds.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Jul 30, 2026TL;DR. Xerox raised full-year 2026 revenue and adjusted operating income guidance, increased its Lexmark synergy target by $50 million to at least $350 million, and cut total debt by $223 million in Q2, while pro forma revenue declined 6.5% and memory/oil costs were flagged as risks to the outlook.
- + Raised full-year 2026 revenue guidance to approximately $7.6 billion, up from greater than $7.5 billion.
- + Raised full-year adjusted operating income guidance to $555-$605 million, a $105 million increase.
- + Raised Lexmark cost synergy target to at least $350 million, up $50 million from prior guidance.
- + Reduced total debt by $223 million in Q2, lowering gross leverage to 5.9x and net leverage to 5.1x.
- + Now expects year-end 2026 gross and net leverage to fall by more than two turns versus Q1, better than the prior forecast.
- + Adjusted operating margin rose to 10.6%, up 690 basis points year-over-year (140 bps excluding tariff receivables benefit).
- − Print and Other equipment revenue declined 13% on a pro forma basis due to softer mid-range and lower OEM sales.
- − Non-financing interest expense rose $45 million year-over-year to $100 million in Q2.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Equipment sales | $393M | FY2026 Q3 | +2.6% |
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| IT Solutions revenue | $180M | FY2026 Q3 | -18.9% |
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| Accounts receivable sales | $121M | Three Months Ended June 30, 2026 filing | — |
| Adjusted Diluted EPS non-GAAP | $0.38 | Three Months Ended June 30, 2026 filing | — |
| Adjusted Net Income per diluted share non-GAAP | $0.38 | the three months ended June 30, 2026 filing | — |
| Equipment Installs % Change YOY - Entry (Revised Methodology) | 131% | second quarter 2026 filing | — |
| Equipment Installs % Change YOY - High-end (Revised Methodology) | -19% | second quarter 2026 filing | — |
| Equipment sales decline excluding the Lexmark Acquisition | 17.9% | the second quarter 2026 filing | — |
| Finance receivable sales - net proceeds | $80M | Three Months Ended June 30, 2026 filing | — |
| IT Solutions segment margin | 3.7% | second quarter 2026 filing | — |
| Post sale revenue | $1.35B | the second quarter 2026 filing | — |
| Post sale revenue decline excluding the Lexmark Acquisition | 6.8% | the second quarter 2026 filing | — |
| Print and Other segment margin | 12.7% | second quarter 2026 filing | — |
| Pro forma adjusted operating income margin increase non-GAAP | 5.4% | the second quarter 2026 filing | — |
| Pro forma revenue decline non-GAAP | 13% | the second quarter 2026 filing | — |
| Restructuring charges, net | $26M | Three Months Ended June 30, 2026 filing | — |
| Total equipment installations | 97% | the second quarter 2026 filing | — |
| Total Restructuring and related costs, net | $23M | Three Months Ended June 30, 2026 filing | — |
| Adjusted Effective Tax Rate non-GAAP | 31.3% | Three Months Ended June 30, 2026 | — |
| Adjusted Gross Profit and Margin non-GAAP | 700M | Three Months Ended June 30, 2026 | — |
| Adjusted Net Income non-GAAP | 55M | Three Months Ended June 30, 2026 | — |
| Adjusted operating income non-GAAP | $203M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Pre-tax income (loss) 31M
+0M Inventory-related impact - exit of certain production print manufacturing operations
+12M Lexmark - fixed asset-related purchase accounting adjustment
+23M Restructuring and related costs, net
+30M Amortization of intangible assets
+2M Transformation-related costs
+0M Transaction and related costs, net
+100M Non-financing interest expense
+5M Other expenses, net
= Adjusted Operating Income 203M
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| Adjusted operating margin non-GAAP | 10.6% | Q2 2026 | — |
| Free cash flow non-GAAP | $11M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net cash provided by operating activities $37M
-$26M Capital expenditures
= Free Cash Flow $11M
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| Fully diluted shares at end of period non-GAAP | 135M | Q2 FY2026 | — |
| Normalized Adjusted Net Income non-GAAP | 52M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Adjusted Net Income 55M
-3M Tax effects associated with U.S. and U.K. losses
= Normalized Adjusted Net Income 52M
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| Operating cash flow | $37M | Q2 2026 | — |
| Weighted average shares for adjusted EPS non-GAAP | 135M | Three Months Ended June 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Business Equipment & Supplies — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
XRX
this stock
Xerox Holdings Corp
|
$121.93M | -61.4% | +12.9% | — | 31.5% |
|
CXT
Crane NXT, Co.
|
$3.28B | +20.9% | -1.0% | 25.9 | 15.7% |
|
LYTS
Lsi Industries Inc
|
$577.00M | -15.6% | +22.1% | 24.5 | 9.4% |
|
ACCO
ACCO BRANDS Corp
|
$490.33M | +42.4% | -8.5% | 7.6 | 6.8% |
|
ACTG
Acacia Research Corp
|
$401.34M | +11.2% | -59.7% | — | 1.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 13, 2026
- This year
- 28
On November 13, 2026, Xerox Holdings Corporation completed an exchange of $173,679,000 principal of 5.500% Senior Notes due 2028 for $121,086,000 of 10.250% Senior Secured First Lien Notes due 2030 and 3,872,062 shares, leaving $382,456,000 outstanding.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| XRX | -15.3% | -62.9% | -69.6% | -37.5% | -61.4% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -17.8% | -61.8% | -70.1% | -37.3% | -72.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.