secwatch.observer — SEC 8-K summary
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Issuer:     Quad/Graphics, Inc. (QUAD)
CIK:        0001481792
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001481792-23-000008
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quad/Graphics Q4 2022: Net sales +4% to $885M; FY22 Adj EBITDA $252M; guides FY23 sales down 0-5%
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- Q4 net sales $885M (+4% YoY); net loss improved to $9M from $21M loss in Q4 2021.
- FY22 net sales $3.2B (+9% YoY, +11% ex-divestitures); net earnings $9M vs $38M in 2021.
- FY22 Adjusted EBITDA $252M (near high end of $235M-$255M guidance); Free Cash Flow $94M.
- Net debt reduced to $545M; leverage ratio 2.16x, lowest since 2018; $10M share repurchases in 2022.
- FY23 guidance: net sales decline 0-5%, Adj EBITDA $210M-$250M, FCF $50M-$90M, target leverage ~2.0x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1481792/000148179223000008/0001481792-23-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1481792/000148179223000008/quad-20230221.htm
  HTML page:      https://secwatch.observer/filing/0001481792-23-000008

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