Xerox Releases Fourth-Quarter and Full-Year Results

Financial Summary

Q4 2022 

• Revenue of $1.94 billion, up 9.2 percent year-over-year or up 13.9 percent in constant currency.

• GAAP earnings per share (EPS) of $0.74, up $4.71 year-over-year. Prior year Q4 GAAP EPS includes an after-tax non-cash goodwill impairment charge of $4.38 per share.

• Adjusted EPS of $0.89, up $0.55 year-over-year.

• Adjusted operating margin of 9.2 percent, up 440 basis points year-over-year.

• Operating cash flow of $186 million, down $12 million year-over-year.

• Free cash flow of $168 million, down $14 million year-over-year.

FY 2022

• Revenue of $7.11 billion, up 1.0 percent year-over-year, or up 4.8 percent in constant currency.

• GAAP loss per share of $2.15, up $0.41 year-over-year. Both the current year and prior year include after-tax non-cash goodwill impairment charges of $2.54 and $4.08 per share, respectively.

• Adjusted EPS of $1.12, down $0.39 year-over-year.

• Adjusted operating margin of 3.9 percent, down 140 basis points year-over-year.

• Operating cash flow of $159 million, down $470 million year-over-year.  

• Free cash flow of $143 million, excluding a one-time product supply termination charge, down $418 million year-over-year.

News Release	Related Earnings Documents	Webcast and Multimedia
Fourth-Quarter and Full-Year Results (PDF, 1.06 MB)	Xerox Q4 2022 Earnings Presentation (PDF, 1.8 MB)   Xerox Q4 2022 Non-GAAP Measures (PDF, 9.03 MB)   Xerox Q4 2022 Financial Model (PDF, 300 KB) or (Excel, 4.29 MB)   Xerox Q4 2022 Summary (PDF, 124 KB)	Webcast Replay: Conference Call   Conference Call Transcript (PDF 292KB)

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