Quad/Graphics Q1 net sales $655M, net loss $28M; reaffirms FY guidance

Quad/Graphics, Inc.

2024-Q1 EPS reported -$0.60 revenue$654,800,000

Net sales of $655M, down 15% YoY; net loss of $28M ($0.60 diluted loss) vs loss of $25M in Q1 2023.
Adjusted EBITDA of $51M (vs $60M); adjusted diluted EPS $0.10 (vs $0.15).
Reaffirmed FY2024 guidance: net sales decline 5-9%, adj EBITDA $205-245M, free cash flow $50-70M, year-end net debt leverage ~1.8x.
Quarterly dividend of $0.05/share maintained; payable June 7, record May 22.
Restructuring expected to generate $60M cost savings in 2024; Fitch revised outlook to Positive from Stable.

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, 2024 results: revenue $655 million, net income Net Loss of $28 million, EPS $0.60 Diluted Loss Per Share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $655 million
Net income: Net Loss of $28 million
EPS: $0.60 Diluted Loss Per Share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), a global marketing experience company, today reported results for the first quarter ended March 31, 2024. Recent Highlights • Realized Net Sales of $655 million in the first quarter of 2024 compared to $767 million in 2023, and recognized a Net Loss of $28 million or $0.60 Diluted Loss Per Share for the first quarter of 2024. • Achieved Non-GAAP Adjusted EBITDA of $51 million in the first quarter of 2024 compared to $60 million in the first quarter of 2023, and reported $0.10 Adjusted Diluted Earnings Per Share for the first quarter of 2024. • Completed restructuring actions that are expected to generate $60 million of cost savings in 2024. • Announced In-Store Connect, a new retail solution that aims to advance the in-store shopping experience by creating digital interactions throughout physical retail environments. • Launched Household Fusion TM , a first-of-its-kind postal optimization program created to offset continued U.

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Source: SEC EDGAR

accession 0001481792-24-000019

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