XRX

EX-99.1

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EX-99.1

Document

EXHIBIT 99.1

News from Xerox Holdings Corporation

Xerox Releases Second-Quarter Results

Raises full-year 2026 revenue and adjusted1 operating income guidance

Financial Summary

Q2 2026*

•Revenue of $1.92 billion, up 22.0 percent, or 21.2 percent in constant currency1. On a pro forma2 basis, revenue is down 6.5 percent.

•GAAP net income of $13 million, or $0.07 per share, up $119 million or $0.94 per share, year-over-year, respectively.

•Adjusted1 net income of $55 million, or $0.38 per share, up $132 million or $1.02 per share, year-over-year, respectively.

•Adjusted1 operating income of $203 million, up $144 million year-over-year.

•Adjusted1 operating margin of 10.6 percent, up 690 basis points year-over-year.

•Operating cash flow of $37 million, up $48 million year-over year.

•Free cash flow1 of $11 million, up $41 million year-over-year.

* Profitability metrics for Q2 2026 include $105 million of a pre-tax benefit from the recognition of IEEPA tariff receivables. This benefit is not included in either Operating cash flow or Free cash flow for Q2 2026 as the sale of the receivables is currently accounted for within Financing cash flow.

NORWALK, Conn., July 30, 2026 — Xerox Holdings Corporation (NASDAQ: XRX) today announced its 2026 second-quarter results.

“Our second-quarter results gave us another reason for confidence," said Louie Pastor, chief executive officer at Xerox. "We made progress on each of our three strategic priorities: stabilizing revenue, increasing profitability, and reducing leverage. As a result, we are raising both revenue and adjusted operating income guidance, as well as our Lexmark gross synergy targets. While we have more to prove, I like how our team is showing up and executing with urgency and discipline.”

Progress Against Strategic Priorities

Q2 2026

•Raised Lexmark gross cost synergy target by $50 million to at least $350 million

•Expanded the 9‑Series A3 lineup in June, adding new mid‑range devices and making the portfolio available to all clients and channel partners

•Launched new A4 color devices in June under the new unified brand and logo

•Print and IT Solutions total sales pipelines remain ahead of the prior year

•Reduced total debt outstanding by more than $200 million:

◦$125 million of 13.00% 2026 Senior Notes at maturity

◦$93 million of 5.50% 2028 Senior Notes

◦$6 million of 13.50% 2031 Senior Secured Notes

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Second-Quarter Key Financial Results

(in millions, except per share data)Q2 2026Q2 2025B/(W) YOY Pro Forma2

B/(W) YOY

Revenue$1,922$1,576

22.0% AC

21.2% CC1

(6.5)% AC

Gross Profit$688$451$237$93

Gross Margin 35.8%28.6%720 bps690 bps

RD&E %

3.5%2.7%(80) bps

SAG %

22.5%23.4%90 bps

Pre-Tax Income (Loss)$31$(60)$91

Pre-Tax Income (Loss) Margin1.6%(3.8)%540 bps

Gross Profit - Adjusted1

$700$461$239$78

Gross Margin - Adjusted1

36.4%29.3%  710 bps610 bps

Operating Income - Adjusted1

$203$59$144

Operating Income Margin - Adjusted1

10.6%3.7%690 bps

GAAP Diluted Income (Loss) per Share$0.07$(0.87)$0.94

Diluted Income (Loss) Per Share - Adjusted1 $0.38$(0.64)$1.02

Second-Quarter Segment Results

(in millions)Q2 2026Q2 2025B/(W) YOY Pro Forma2

B/(W) YOY

Revenue

Print and Other $1,733$1,36626.9%(6.1)%

IT Solutions 194213(8.9)%(8.9)%

Intersegment Elimination3

(5)(3)NMNM

Total Revenue$1,922$1,57622.0%(6.5)%

Profit

Print and Other4

$220$65NM89.7%

IT Solutions 710(30.0)%(30.0)%

Corporate Other5 (24)(16)50.0%20.0%

Total Profit$203$59NM91.5%

1.Refer to the “Non-GAAP Financial Measures” section of this release for a discussion of these non-GAAP measures and their reconciliation to the reported GAAP measures. In Q2 2026, the Company recognized a $105 million pre-tax benefit related to the recognition of the IEEPA tariff receivables. The Company sold its rights to these receivables to a third party for $80 million in cash. Because the tariff receivables have not been processed by the U.S. Government as of June 30, 2026, the $80 million proceeds are classified within financing cash flows and excluded from free cash flow. Upon processing, the proceeds will be reclassified to operating cash flows with no impact on total cash.

2.Refer to the "Pro Forma Basis" section for an explanation of this measure. Reflects the inclusion of Lexmark's estimated results from April 1, 2025 through June 30, 2025. Lexmark's actual results are included in Xerox's reported results beginning on July 1, 2025, the effective date of the acquisition.

3.Reflects primarily IT hardware, software solutions and services, sold by the IT Solutions segment to the Print and Other segment.

4.Second quarter 2026 Print and Other profit reflects a benefit from the recognition of $105 million from IEEPA tariff receivables associated with the recent Supreme Court ruling on IEEPA tariffs.

5.Corporate Other reflects certain administrative and general expenses, which primarily relate to corporate functions

EX-99.1

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EXHIBIT 99.1

News from Xerox Holdings Corporation

Xerox Releases First-Quarter Results

Returns to year‑over‑year adjusted1 operating margin growth with 240 basis points expansion; revenue trajectory improved and liquidity strengthened in Q1

Financial Summary

Q1 2026

•Revenue of $1.85 billion, up 26.7 percent, or 23.6 percent in constant currency1. On a pro forma2 basis, revenue is down 3.7 percent.

•GAAP net (loss) of $(105) million, or $(0.84) per share, down $15 million or $0.09 per share, year-over-year, respectively.

•Normalized Adjusted3 net (loss) of $(10) million, or $(0.11) per share, down $3 million or $0.02 per share, year-over-year, respectively.

•Adjusted1 net (loss) of $(51) million, or $(0.43) per share, down $47 million or $0.37 per share, year-over-year, respectively.

•Adjusted1 operating income of $72 million, up $50 million year-over-year.

•Adjusted1 operating margin of 3.9 percent, up 240 basis points year-over-year.

•Operating cash flow of $(144) million, down $55 million year-over year, reflecting expected Q1 seasonality.

•Free cash flow1 of $(165) million, down $56 million year-over-year. Full-year free cash flow guidance of approximately $250 million is unchanged, implying greater than $400 million of cash generation over the remaining three quarters.

NORWALK, Conn., April 30, 2026 — Xerox Holdings Corporation (NASDAQ: XRX) today announced its 2026 first-quarter results.

“This quarter’s results demonstrated tangible progress as revenue and profit trajectory improved, adjusted1 operating margin expanded, and we further enhanced our liquidity,” said Louie Pastor, chief executive officer at Xerox. “When I took this role, I was unequivocal that we must be clear about our priorities — stabilize revenue, increase profitability and reduce leverage — and establish credibility by executing on them one quarter at a time. I am genuinely optimistic about the future of this business and confident we are closer to an inflection point than the external narrative suggests. Reaffirming our 2026 guidance reflects that confidence.”

Strategic Milestones

Q1 2026

•Lexmark synergies on plan; reaffirm at least $300 million of integration synergies

•Print sales pipeline materially higher vs. this time last year

•Production Installs increased 31% year-over-year, partly fueled by the Proficio launch

•Q1 IT Solutions bookings and billings growth of 32% and 21%, respectively

•Raised $450 million through a newly formed IP joint venture with TPG Angelo Gordon

•Repurchased $101 million face value of 2028 Senior Notes

1

First-Quarter Key Financial Results

(in millions, except per share data)Q1 2026Q1 2025B/(W) YOY Pro Forma2

B/(W) YOY

Revenue$1,846$1,457

26.7% AC

23.6% CC1

(3.7)% AC

Gross Profit$549$426$123$(16)

Gross Margin 29.7%29.2%50 bps20 bps

RD&E %

3.5%2.9%(60) bps

SAG %

23.3%25.9%260 bps

Pre-Tax (Loss)$(73)$(67)$(6)

Pre-Tax (Loss) Margin(4.0)%(4.6)%60 bps

Gross Profit - Adjusted1

$560$433$127$(33)

Gross Margin - Adjusted1

30.3%29.7%  60 bps (60) bps

Operating Income - Adjusted1

$72$22$50

Operating Income Margin - Adjusted1

3.9%1.5%240 bps

GAAP Diluted (Loss) per Share$(0.84)$(0.75)$(0.09)

Normalized Diluted (Loss) Per Share – Adjusted3 $(0.11)$(0.09)$(0.02)

Diluted (Loss) Per Share - Adjusted1 $(0.43)$(0.06)$(0.37)

First-Quarter Segment Results

(in millions)Q1 2026Q1 2025B/(W) YOY Pro Forma2

B/(W) YOY

Revenue

Print and Other $1,692$1,29430.8%(3.5)%

IT Solutions 156164(4.9)%(4.9)%

Intersegment Elimination4

(2)(1)NMNM

Total Revenue$1,846$1,45726.7%(3.7)%

Profit

Print and Other $87$41112.2%(7.4)%

IT Solutions 6520.0%20.0%

Corporate Other5 (21)(24)(12.5)%(25.0)%

Total Profit$72$22NM1.4%

1.Refer to the “Non-GAAP Financial Measures” section of this release for a discussion of these non-GAAP measures and their reconciliation to the reported GAAP measures.

2.Refer to the "Pro Forma Basis" section for an explanation of this measure. Reflects the inclusion of Lexmark's estimated results from January 1, 2025 through March 31, 2025. Lexmark's actual results are included in Xerox's reported results beginning on July 1, 2025, the effective date of the acquisition. ITsavvy results for the full first quarter of 2026 and 2025 are included in our consolidated results. Accordingly, there are no pro forma impacts related to the IT Solutions segment.

3.Normalized adjusted net (loss) includes tax benefits of $41 million in Q1 2026 and ($3) million in Q1 2025, which are not included in adjusted earnings. This represents the tax effects associated with pre-tax (losses) generated in U.S. and UK entities subject to full valuation allowances.

4.Reflects primarily IT hardware, software solutions and services, sold by the IT Solutions segment to the Print and Other segment.

5.Corporate Other reflects certain administrative and general expenses, which primarily relate to corporate functions, and are not allocated

xrx-2026012900017704500000108772false00017704502026-01-292026-01-290001770450xrx:XeroxCorporationMember2026-01-292026-01-290001770450dei:FormerAddressMember2026-01-292026-01-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): January 29, 2026

XEROX HOLDINGS CORPORATION

XEROX CORPORATION

(Exact Name of Registrant as specified in its charter)

New York001-3901383-3933743 New York001-0447116-0468020 (State or other jurisdiction of incorporation or organization)(Commission File Number)(IRS Employer Identification No.)

P.O. Box 4505, 401 Merritt 7 Norwalk, Connecticut 06851-1059

(Address of principal executive offices and Zip Code)

201 Merritt 7, Norwalk, CT 06851-1056

(Former address of principal executive offices) (203) 849-5216

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading SymbolName of each exchange on which registered Xerox Holdings Corporation Common Stock, $1 par valueXRX Nasdaq Global Select Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Xerox Holdings Corporation                        Xerox Corporation Emerging growth company ☐                             Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Xerox Holdings Corporation ☐                         Xerox Corporation ☐

Item 2.02. Results of Operations and Financial Condition. On January 29, 2026, Xerox Holdings Corporation and Xerox Corporation (together, the "Registrants") issued a press release announcing their combined fourth quarter 2025 earnings. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference. Exhibit 99.1 to this current Report contains certain financial measures that are considered “non-GAAP financial measures” as defined in the SEC rules. Exhibit 99.1 to this current Report also contains the reconciliation of these non-GAAP financial measures to their most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles, as well as the reasons why Registrants' management believes that presentation of the non-GAAP financial measures provides useful information to investors regarding Registrants' results of operations and, to the extent material, a statement disclosing any other additional purposes for which Registrants' management uses the non-GAAP financial measures. The information contained in Item 2.02 of this Current Report and in Exhibit 99.1 hereto is being furnished and shall not be deemed to be "filed" for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.Description 99.1 Registrants' fourth quarter 2025 earnings press release dated January 29, 2026

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authoriz