Xerox

Q2 FY2026 EarningsQ2 FY26 results significantly beat consensus across all key metrics: revenue of $1.92B was 1.10% above the $1.90B expected, while adjusted EPS of $0.38 crushed the -$0.18 consensus loss. The massive variance was primarily driven by a $105M one-time IEEPA tariff recovery and Lexmark integration synergies. However, legacy Xerox revenue declined 9.6% YoY, and management lowered full-year operating cash flow guidance to $340M from $350M, citing higher restructuring and interest expenses.