Quad/Graphics Q2 2021: net sales $694M (+19% YoY), swings to profit; raises outlook

Quad/Graphics, Inc.

2021-Q2 EPS reported $0.85 revenue$1,399,700,000

Net sales $694M, up 19% YoY; net earnings $34M ($0.66 diluted EPS) vs loss of $15M in Q2 2020.
Adjusted EBITDA $60M flat YoY, absorbing ~$30M in 2020 temporary cost savings.
Reduced net debt by $120M YTD to $753M; debt leverage ratio improved to 3.0x from 3.35x.
Raises 2021 outlook: net sales +1-3%, Adj. EBITDA $240-260M, leverage ~2.75x.
Sold QuadExpress 3PL business for $40M (over 8x EBITDA multiple).

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