Xerox Narrows 2017 EPS Guidance

(RTTNews) - Xerox (XRX) said that it narrowed its full-year 2017 guidance of GAAP earnings per share from continuing operations to $1.84 to $2.08 and adjusted earnings per share to $3.20 to $3.44. Analysts polled by Thomson Reuters expect the company to report earnings of $3.33 per share for 2017. Analysts' estimates typically exclude special items.

Xerox continues to expect to generate operating cash flow from continuing operations of $700 million to $900 million and free cash flow from continuing operations of $525 million to $725 million in 2017.

The company expects to incur additional restructuring and related costs of approximately $35 million in third quarter 2017 for actions and initiatives that have not yet been finalized. For full-year 2017, it expects to incur restructuring and related costs of approximately $225 million.