Quad reports 2023 net loss of $55M, sales down 8%; reinstates $0.05 dividend

Quad/Graphics, Inc.

2023-FY EPS reported -$1.14 revenue$2,957,700,000

Net sales $3.0B in 2023, down 8% YoY; net loss $55M vs net earnings $9M in 2022.
Adjusted EBITDA $234M (in line with guidance $220-240M); Q4 net loss $22M.
Net debt reduced $75M to $470M; leverage ratio 2.0x (new target 1.75x-2.25x).
Reinstated quarterly dividend $0.05/share payable March 12, record Feb 27.
2024 guidance: net sales decline 5-9%, Adj EBITDA $205-245M, FCF $50-70M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Quad/Graphics, Inc. reported the fourth quarter and full year ended December 31, 2023 results: revenue $3.0 billion, net income Net Loss of $55 million. Guidance reaffirmed.

Period: the fourth quarter and full year ended December 31, 2023
Revenue: $3.0 billion
Net income: Net Loss of $55 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

experience company, today reported results for the fourth quarter and full year ended December 31, 2023. Recent Highlights • Achieved 2023 guidance and reported Net Sales of $3.0 billion in 2023 compared to $3.2 billion in 2022. • Anticipating $60 million of cost savings from recent plant capacity and labor reduction initiatives in response to ongoing external

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Source: SEC EDGAR

accession 0001481792-24-000003

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