Quad/Graphics Q1 Net Sales +3% to $767M; Net Loss widens to $25M; Adj. EBITDA +24% to $60M; Reaffirms FY23 guidance

Quad/Graphics, Inc.

2023-Q1 EPS reported -$0.50 revenue$766,500,000

Net sales $767M, up 3% YoY, driven by U.S. and Mexico print and Agency Solutions.
Net loss $25M vs. -$1M a year ago on higher restructuring charges, interest and tax expense.
Adjusted EBITDA $60M, +24% vs. $49M in Q1 2022; adjusted diluted EPS $0.15 vs. $0.04.
Free cash flow negative $79M vs. -$36M a year ago; net debt $632M, up $87M from Q4 2022.
Full-year 2023 guidance reaffirmed: net sales (0%) to (5%), Adj. EBITDA $210M-$250M, FCF $50M-$90M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Quad/Graphics, Inc. reported first quarter ended March 31, 2023 results: revenue $767 million, net income Net Loss of $25 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $767 million
Net income: Net Loss of $25 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

more purposeful and sustainable way forward for all our stakeholders.” Summary Results Results for the first quarter ended March 31, 2023, include: • Net Sales — Net Sales were $767 million in the first quarter of 2023, an increase of 3% compared to the same period in 2022, despite the impact from the sale of the Company’s Argentina print operations in December

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Source: SEC EDGAR

accession 0001481792-23-000024

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