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Xerox (XRX) investor relations material
Xerox Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Q3 2025 revenue reached $1.96 billion, up 28% year-over-year due to Lexmark and ITsavvy acquisitions, but pro forma revenue declined 7.8%–8% reflecting underlying business softness and macroeconomic headwinds.
Lexmark integration is ahead of schedule, with $50 million in new synergy opportunities identified, raising total expected synergies to at least $300 million.
Free cash flow improved to $131 million, up $24 million year-over-year.
Adjusted EPS was $0.20, down from $0.25 year-over-year; GAAP net loss was $760 million ($6.01 per share), impacted by tax and inventory charges.
IT solutions business delivered double-digit pro forma revenue growth, offsetting some print segment weakness.
Financial highlights
Adjusted operating income margin was 3.3%, down 190 basis points year-over-year.
Adjusted gross margin declined 350 basis points to 28.9%, mainly due to tariffs, product costs, and integration expenses.
IT Solutions segment revenue surged 163% year-over-year to $226 million, mainly from the ITsavvy acquisition.
Print & Other segment revenue grew 21% to $1.74 billion, but pro forma revenue declined 9.8%.
Adjusted other expenses net were $85 million, up $52 million year-over-year due to higher interest expense from Lexmark acquisition financing.
Outlook and guidance
2025 revenue growth guidance revised to 13% in constant currency, with adjusted operating margin expected at ~3.5%.
Free cash flow guidance for 2025 reduced to $150 million, down from $250 million, mainly due to lower revenue and higher integration costs.
2026 guidance to be provided with Q4 2025 results; $400 million in cash expected from finance receivable reduction.
Lexmark expected to contribute $100–$110 million to adjusted operating income in 2025.
$250–$300 million in gross cost reductions expected from integration and reinvention synergies.
Lexmark's organic revenue performance?
Drivers of 2025 guidance reduction?
Future growth drivers for IT Solutions segment?
When will the additional $50M Lexmark synergies be realized?
Q3 print vs. IT solutions performance drivers?
Quantify 2026 profit headwinds and offsets.
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Next Xerox earnings date
Q4 202527 Jan, 2026
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Frequently asked questions
The Company Behind the Xerox Machine
Xerox is an American company with global operations and is most known for the development and sale of document technology and digital print solutions. Originally named The Haloid Photographic Company, Xerox became world famous with the introduction of the first commercial photocopier in the mid-20th century. Today, the company's portfolio includes digital printing equipment, document management systems, business process services, and similar offerings. The company is headquartered in Norwalk, Connecticut, and its shares are listed on the NYSE.
The Xerox 914
Xerox would forever change office technology took a significant turn in 1959 with the introduction of the Xerox 914, the first automatic plain-paper photocopier. This machine revolutionized document duplication, moving away from messy, wet-copying processes to a dry, heat-fusing method. The Xerox 914 was remarkably successful, becoming commonplace in offices all around the world. The photocopier became synonymous with its function, leading to the term "Xeroxing" as a verb for photocopying. The success of the Xerox 914 fueled the company's growth and innovation in subsequent decades, laying the foundation for its evolution into a multinational corporation specializing in document management and digital print technology.
Modern Printing
The Xerox of today offers a variety of printers and copiers. These products range from small office printers to large digital presses for commercial printing. The company offers modern features such as high-speed, high-quality printing and environmentally friendly solutions. Xerox also offers comprehensive managed print services, designed to help organizations manage their printing and copying infrastructure. These services include streamlining printer fleets, reducing printing costs, and improving efficiency in document workflows. Two other large companies producing printers today are HP and Canon.
Global Printing
While an American company, Xerox operates on a global scale. The company has offices and production facilities spread out across the world, and coupled with robust. The company’s reputation and legacy are still held in high regard across the world, much in part due to the impact that the original Xerox machine had on office culture as a whole.
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