secwatch.observer — SEC 8-K summary
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Issuer:     Quad/Graphics, Inc. (QUAD)
CIK:        0001481792
Form:       8-K
Filed at:   2024-02-20T23:59:59+00:00
Accession:  0001481792-24-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1481792/000148179224000003/0001481792-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1481792/000148179224000003/quad-20240220.htm
  HTML page:      https://secwatch.observer/filing/0001481792-24-000003

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