Key Points – Revenue rose 22% year over year to $1.92 billion in Q2 2026, driven by the Lexmark acquisition, although pro forma revenue declined nearly 7%.
Adjusted operating margin improved to 10.6%, helped by $105 million in tariff receivables and Lexmark integration synergies. – Xerox reduced total debt by $223 million sequentially, lowering gross leverage to 5.9 times, while repaying bridge notes and repurchasing discounted debt
The company also reduced its 2028 maturity wall by nearly $200 million during the first half of the year. – Management raised its 2026 revenue outlook to approximately $7.6 billion and adjusted operating-income guidance to $555 million-$605 million, while increasing its Lexmark synergy target to at least $350 million. Equipment supply constraints and IT Solutions sales-force investments remain near-term challenges. – 2 former tech trailblazers rising like a phoenix Xerox (NASDAQ:XRX) reported second-quarter 2026 revenue growth driven by its Lexmark acquisition, raised its full-year revenue and adjusted operating-income outlooks, and continued to reduce debt as management focused on stabilizing revenue, improving profitability and lowering leverage. Chief Executive Officer Louie Pastor said the company views its 2028, 2029 and 2030 debt maturities as “three hurdles” that shape its priorities. “If an initiative doesn’t advance one of these three priorities, then we don’t pursue it,” Pastor said. – MarketBeat: Week in Review 4/25 – 4/29 Second-quarter revenue totaled $1.92 billion, up 22% year over year, or 21% in constant currency, reflecting Lexmark’s contribution.
On a pro forma basis, however, revenue declined nearly 7% from the prior year. Management said the comparison reflected a currency benefit and supplies pull-forward that aided the first quarter, while the underlying year-over-year revenue trajectory modestly improved in the second quarter after accounting for those factors. Margins Benefit From Tariff Receivables and…