Xerox today reported on details of its Investor Day conference being held today, a conference that’s designed to provide investors and other stakeholders details on Xerox’s strategic initiatives and financial goals.
Xerox CEO and Vice Chairman John Visentin commented: “With a history of designing breakthrough technologies, Xerox is ‘made to think.’ We are taking a disciplined approach to creating the next generation of innovative technologies and intelligent work solutions to meet our clients’ evolving needs.
“By simplifying our operations, instilling a culture of continuous improvement, investing in growth areas and capitalizing on new and adjacent market opportunities, we anticipate that we can achieve flat to growing revenue by 2021, while driving continued annual adjusted earnings per share expansion, including at least $4.00 of adjusted earnings per share in 2020, and delivering over $3 billion of cumulative free cash flow over the next three years,” Visentin said.
The event includes:
- Review of Xerox’s financial plans and three-year roadmap highlighting:
- Expected annual improvements in its revenue trajectory that result in flat to growing revenue by 2021;
- Expected adjusted operating margin expansion of more than 200 basis points over the next three years;
- Expected adjusted EPS expansion of at least 7 percent annually, including at least $4.00 of adjusted EPS in 2020;
- Expected cumulative free cash flow in excess of $3 billion over the next three years; and
- Delivering greater than 50 percent of free cash flow back to shareholders through dividends and share repurchases in each of the next three years.
- A detailed review of Project Own It, the company’s enterprise-wide program designed to simplify its business and drive greater operational efficiency while establishing a culture of continuous improvement. Project Own It is expected to generate:
- An increasingly friction-less, high-velocity business for clients;
- More significant investments, including funding of longer-term innovation, to support the company’s revenue roadmap; and
- Bottom-line annual profit growth.
- Presentation of a comprehensive strategy to improve the company’s revenue trajectory. Elements of the strategy include plans to:
- Improve the company’s Core Technology business;
- Expand Services and Software;
- Capitalize on the opportunity in the small and mid-size business market;
- Transform the client digital experience; and
- Drive innovation and new business growth.
- Details on how the company plans to re-energize innovation by leveraging its intellectual property in adjacent areas, exploring opportunities where it can gain traction in high-growth markets. The company’s Powered by Xerox strategy is designed to leverage Xerox technology to drive developments in digital packaging and print; 3D printing; AI workflow assistants; and sensors and services for the Internet of Things.
- January 2019: Xerox Reports Latest Financial Results; Moving Accounts to Global Imaging (XBS)
- January 2019: Major Reorganization Underway at Xerox with Updates
- December 2018: Layoffs Hit Xerox
- November 2018: A Closer Look at What Icahn, New Management Might Have Planned for Xerox
- August 2018: Xerox Announces Job Cuts at U.S. and Canadian Locations
- July 2018: Xerox CEO Discusses Path Forward, Fuji Xerox, and Suppliers
- July 2018: Xerox Reports Second-Quarter Results, Addresses Fuji Xerox Partnership
- July 2018: Xerox May Sell Leasing Unit
- June 2018: Xerox to End Fujiflm-Fuji Xerox Partnership, Source Products from Other Vendors
- June 2018: Judge Refuses to Lift Injunction Barring Xerox-Fujifilm Deal
- June 2018: Fujifilm Sues Xerox for $1 Billion over Failed Merger Deal
- June 2018: Fujfilm May Walk Away from Xerox Deal
- June 2018: Fujifilm Sues Xerox Over Scrapped Sale and Merger
- May 2018: Xerox Calls Off Deal with Fujfilm, Will Install New Leadership