secwatch.observer — SEC 8-K summary
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Issuer:     Quad/Graphics, Inc. (QUAD)
CIK:        0001481792
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0001481792-24-000040
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quad Q3 net sales $675M (-4% YoY); adj. EBITDA $59M up from $57M; guides FY leverage to ~1.5x
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- Net loss of $25M ($0.52 loss per share) vs loss of $3M in Q3 2023 on higher impairment charges.
- Adjusted diluted EPS of $0.26 vs $0.11 YoY; Adjusted EBITDA margin up 54bps to 8.7%.
- Agreed to sell majority of European ops to Capmont for €41M (~$45M enterprise value); expects to close by year-end.
- Updated FY2024 guidance: net sales decline ~9% (previous 5-9% decline); adj. EBITDA $215-235M; FCF $50-70M unchanged.
- Year-end net debt leverage expected ~1.5x (down from ~1.8x); $690M bank debt amended to Oct 2029.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1481792/000148179224000040/0001481792-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1481792/000148179224000040/quad-20241028.htm
  HTML page:      https://secwatch.observer/filing/0001481792-24-000040

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