Industry Analysts, Inc. – Xerox earnings are out for Q2 2022. Here are some key points that stood out from their press release, which you can see in its entirety here.
- $440 million equipment backlog (up 5% from Q1)
- Equipment sales down 15% Q2 2022 VS 2021
- Entry level sales down 4%
- Midrange level sales down 20%
- High-end sales down 5%
- “Price Increases” appeared five times in the press release
- “…we expect to offset a large portion of inflation-related cost growth with price increases for our products and services.”
- Post sales revenue up 1%
- Cost of sales up
- Total cost of expenses up
- R&D up
- Total revenue down Q2 2022 VS 2021 (sales, service and financing)
- Equipment gross margins down
- Ukraine-Russian war had “minimal impact” on Xerox’s quarter
Here is a chart of Xerox’s annual revenue for the last five years, from 2018 – 2022*.
If the rate of loss Xerox has experienced over the last several years continued, they will be under $2 billion by 2027 – a mere five years from now.
As a point of reference, Xerox was a $17.6 billion-dollar company in 2008, the year before they acquired ACS, which has been subsequently spun off as Conduent.
*2022 estimated
SOURCE Industry Analysts, Inc.
