Xerox Reports $1.92 Billion In Q2 2026 Revenue
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Xerox Holdings reported second-quarter 2026 revenue of $1.92 billion, up 22.0%, or 21.2% in constant currency. On a pro forma basis, revenue was down 6.5%. GAAP net income was $13 million, or $0.07 per share, up $119 million, or $0.94 per share, year-over-year. Adjusted net income was $55 million, or $0.38 per share, up $132 million, or $1.02 per share, year-over-year. Adjusted operating income was $203 million, up $144 million year-over-year. Adjusted operating margin was 10.6%, up 690 basis points year-over-year. Operating cash flow was $37 million, up $48 million year-over-year, and free cash flow was $11 million, up $41 million year-over-year. Xerox said Q2 2026 profitability metrics include $105 million of a pre-tax benefit from the recognition of IEEPA tariff receivables. This benefit is not included in operating cash flow or free cash flow for the quarter, as the sale of the receivables is currently accounted for within financing cash flow. The company raised its Lexmark gross cost synergy target by $50 million to at least $350 million. Xerox expanded its 9-Series A3 lineup in June, adding new mid-range devices and making the portfolio available to all clients and channel partners. It also launched new A4 color devices in June under its new unified brand and logo, and said Print and IT Solutions total sales pipelines remain ahead of the prior year. Xerox reduced total...
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