Xerox Holdings Corporation: Can The Cost Efficiency & Restructuring Initiatives Improve The Bottom-Line?

Xerox Holdings Corporation reported a challenging first quarter for the fiscal year 2024, marked by significant organizational changes and revenue decline. The company reported a revenue of $1.5 billion, which is a decrease of 12.4% in actual currency and 13.2% in constant currency. Notable was the adjusted earnings per share (EPS) of $0.06, which represented a decline of $0.43 compared to the same period last year. Free cash flow was reported as a utilization of $89 million, deteriorating by $159 million from the previous year, and adjusted operating margin slumped by 470 basis unusual operational disruptions linked to organizational restructuring.