Xerox Holdings NasdaqGS:XRX Stock Report

Xerox Holdings Corporation and Xerox Corporation Appoint Steven Bandrowczak as Permanent Chief Executive Officer

Xerox Holdings Corporation Appoints Philip Giordano to its Board of Directors

Xerox Holdings Corporation announced Philip Giordano has been appointed to its board of directors. Giordano is the Founder and Chief Investment Officer of Livello Capital Management. He previously held senior positions at Goldman Sachs and Deutsche Bank, where he invested across sectors and capital structures following a rigorous and disciplined investment process. Giordano began his career as an analyst at Citigroup in the investment banking division after graduating from New York University with a B.S. in Finance and Accounting. With the election of Giordano, Xerox’s board of directors remains at eight members.

Second quarter 2022 earnings released: US$0.045 loss per share (vs US$0.47 profit in 2Q 2021)

Second quarter 2022 results: US$0.045 loss per share (down from US$0.47 profit in 2Q 2021). Revenue: US$1.75b (down 2.6% from 2Q 2021). Net loss: US$7.00m (down 108% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 2.0%, compared to a 4.7% growth forecast for the industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance.