secwatch.observer — SEC 8-K summary
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Issuer:     Quad/Graphics, Inc. (QUAD)
CIK:        0001481792
Form:       8-K
Filed at:   2022-02-22T23:59:59+00:00
Accession:  0001481792-22-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quad/Graphics Q4 net loss $21M; FY 2021 net earnings $38M, adj EPS $0.60; guides 2022 sales growth 3-7%
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- Q4 2021 net sales $855M (+1% YoY; +5% ex-divestiture); net loss $21M vs loss $86M Q4 2020.
- Full-year 2021 net sales $3.0B (+1%; +3% ex-divestitures); net earnings $38M vs loss $107M; adj diluted EPS $0.60 (vs $0.29).
- Adjusted EBITDA FY2021 $246M (down from $260M due to non-recurrence of COVID savings and cost inflation).
- Net debt reduced 40% over two years to $624M; leverage ratio improved to 2.54x from 3.35x.
- 2022 guidance: net sales growth 3-7%, adj EBITDA $230-270M, free cash flow $70-100M, capex $55-65M, leverage ~2.25x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1481792/000148179222000003/0001481792-22-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1481792/000148179222000003/quad-20220222.htm
  HTML page:      https://secwatch.observer/filing/0001481792-22-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer