Announces 2020 guidance consistent with three-year plan, including further EPS expansion and revenue trend improvement
2019 Full-Year Financial Highlights:
GAAP earnings per share (EPS) from continuing operations of $2.78, up $1.62 year-over-year (YOY); ddjusted EPS from continuing operations of $3.55, up $0.67 YOY.
Adjusted operating margin of 13.1 percent, up 180 basis points YOY.
$1.24 billion of operating cash flow from continuing operations, up $162 million YOY; $1.18 billion of free cash flow, up $187 million YOY.
$9.07 billion of revenue, a decrease of 6.2 percent in actual currency YOY or 4.7 percent in constant currency YOY.
Achieved gross savings of $640 million under Project Own It, Xerox’s enterprise-wide initiative to simplify operations, drive continuous improvement and free up capital to reinvest in the business.
Returned 72 percent of free cash flow to shareholders.
There is a clear path to realizing increased value from your investment in HP — the proposed transaction with Xerox. In this presentation, we provide an overview of the value of our offer and two of the most important opportunities created by a combination — cost synergies and revenue synergies” and “The value of the transaction goes beyond economics. In consolidating industries, first movers not only win but also have an opportunity to reshape the competitive landscape in an enduring way.” - John Visentin, vice chairman and CEO, Xerox.