Xerox

In the second quarter Xerox sold customs refund claims with a book value of $105m for $80m in cash to a third party to raise liquidity. A significant portion of the proceeds was used to repurchase liabilities at a discount as the company responds to upcoming debt maturities in 2028–2030. In the quarter Xerox reported revenue of $1.9bn (+22% YoY) and adjusted net income of $55m; total debt stands at $4.2bn. » Más en de.investing.com

Xerox reported Q2 revenue of $1.92 billion, up 22% year-over-year largely from the Lexmark acquisition, though pro forma revenue fell about 7%. Adjusted operating margin rose to 10.6%, aided by $105 million in tariff receivables and Lexmark integration synergies, and adjusted EPS was $0.38. The company reduced total debt by $223 million, lowered gross leverage to 5.9x, repurchased discounted notes and trimmed its 2028 maturity wall. Management raised 2026 revenue guidance to about $7.6 billion, upped adjusted operating-income guidance to $555M–$605M, and raised the Lexmark synergy target to at least $350 million while flagging near-term equipment supply and IT Solutions sales-force investments as challenges. » Más en finance.yahoo.com

S&P Global Ratings lowered Xerox's rating from 'CCC+' to 'SD' (selective default) after the company repurchased about 13% of its unsecured senior notes maturing in 2028 at a discount in the first quarter. The affected 2028 bonds were downgraded from 'CCC' to 'D'; all other issue ratings were initially unchanged. S&P cited potential refinancing risks from shrinking print markets, expected negative operating core business cash flows, and forecasts a pro-forma revenue decline of 4–6% for 2026. According to S&P, Xerox has adequate liquidity but has not ruled out further buybacks or other debt-management measures; outstanding bonds include $649 million (2028) and $500 million (2029), among others. » Más en de.investing.com