Monksdream
1 year ago
Quad/Graphics Inc NYSE: QUAD
GoSymbol lookup
Industrials : Commercial Services & Supplies | Small Cap ValueCompany profile
Quad/Graphics, Inc. is a global marketing experience company. The Company's United States Print and Related Services segment is comprised of its United States printing operations and integrated platform. The United States Print and Related Services segment includes print execution and logistics for retail inserts, catalogs, long-run publications, special interest publications, journals, direct mail, directories, in-store marketing and promotion, packaging, newspapers, custom print products, as well as other commercial and specialty printed products, and marketing and other complementary services, such as data and analytics, technology solutions, media services, creative and content solutions, managed services and execution in non-print channels. The International segment consists of its printing operations in Europe and Latin America, including operations in England, France, Germany, Poland, Argentina, Colombia, Mexico and Peru, as well as investments in printing operations in India.
New 52=week high
Monksdream
1 year ago
QUAD new 52=week high
Quad/Graphics Inc NYSE: QUAD
GoSymbol lookup
Industrials : Commercial Services & Supplies | Small Cap ValueCompany profile
Quad/Graphics, Inc. is a global marketing experience company. The Company's United States Print and Related Services segment is comprised of its United States printing operations and integrated platform. The United States Print and Related Services segment includes print execution and logistics for retail inserts, catalogs, long-run publications, special interest publications, journals, direct mail, directories, in-store marketing and promotion, packaging, newspapers, custom print products, as well as other commercial and specialty printed products, and marketing and other complementary services, such as data and analytics, technology solutions, media services, creative and content solutions, managed services and execution in non-print channels. The International segment consists of its printing operations in Europe and Latin America, including operations in England, France, Germany, Poland, Argentina, Colombia, Mexico and Peru, as well as investments in printing operations in India.
naturalborninvestor
5 years ago
Quad Provides Business Update Related to COVID-19
Source: Business Wire
Company Takes Actions to Realign Business in Response to Changes in Near Term Customer Demand
Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”) today provided a business update on its actions taken in response to the COVID-19 pandemic.
Quad has been executing business continuity plans focused on protecting the health and well-being of its employees, while also continuing to service customers, and protect the long-term financial health of the Company as the COVID-19 pandemic evolves.
“The health and safety of our employees remains our top priority,” said Joel Quadracci, Quad’s Chairman, President and CEO. “We have directed employees who can work from home to do so, as well as implemented additional social distancing and sanitizing precautions to ensure the safety of our employees working in essential manufacturing facilities. We have implemented a temporary furlough program throughout all areas of the Company and have temporarily ceased operations at a number of our manufacturing facilities. We will continue to prioritize the health and well-being of our employees while making the tough but necessary decisions to protect the financial health of Quad. Through it all, we will continue to provide extraordinary client service and quality to quickly meet our clients changing needs and innovate new ideas to help them maintain business continuity and consumer engagement during this period of uncertainty.”
Recent COVID-19 Actions:
Suspended all domestic and international travel;
Implemented temporary salary reductions for over 300 leaders, including a 50% salary reduction for the CEO and a 35% reduction for the other named executive officers;
At the recommendation of the Board of Directors, temporarily reduced directors’ fees by 50%;
Implemented a temporary employee furlough program with Company-paid medical benefits;
Changed vacation policies;
Suspended production at several manufacturing facilities where declining client volume or other effects of the pandemic have impacted the Company’s ability to operate;
Delayed capital spending projects; and
Increased borrowings by $100 million under the credit facility to increase cash on hand to approximately $200 million to ensure continued financial flexibility.
Given the uncertainty of the duration of the COVID-19 pandemic, Quad is withdrawing its full-year 2020 financial guidance issued on February 18, 2020. Additionally, due to uncertainty in customer demand as a result of COVID-19, the Board of Directors made the proactive decision to temporarily suspend the Company’s quarterly dividend of $0.15 per share. The Company remains committed to paying a dividend over the long-term and will seek to resume the dividend following stabilization of its operating environment.
Added Quadracci: “We have faced tough times before and persevered. While the COVID-19 pandemic is unique and presents uncertainty, I am confident in our ability to find a better way and weather this storm.”
naturalborninvestor
5 years ago
Quad Reports Fourth Quarter and Full-Year 2019 Results
Strong Customer Service Performance Drives Fourth Quarter Profitability, Free Cash Flow and Reduced Leverage; Positions Company for Accelerated Transformation
Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”) today reported results for its fourth quarter and full-year ending December 31, 2019.
Recent Highlights
Exceeded revised 2019 guidance for net sales, Adjusted EBITDA and Free Cash Flow.
Reduced Debt Leverage Ratio to 3.1x in the fourth quarter.
Expands cost reduction program to $100 million, to be fully realized in 2020.
Divested Omaha, Neb., packaging plant for $41 million as part of ongoing efforts to optimize its product portfolio.
Declares quarterly dividend of $0.15 per share.
“I am pleased to report that our fourth quarter results exceeded expectations, driven by continued execution against our strategic priorities, including aggressive cost management and increased manufacturing productivity. We had one of the best quarters in the past decade in terms of customer service performance, achieving strong quality and on-time delivery for our clients in their busiest season. This strong performance is due, in large part, to our decision to invest $40 million to increase hourly production employees’ wages, as we saw significant productivity gains throughout the quarter,” said Joel Quadracci, Chairman, President & CEO.
“In 2020, we will continue to make prudent, long-term decisions as we accelerate the transformation of our company as a marketing solutions partner with a strong foundation in print,” Quadracci continued. “This transformation, which we call Quad 3.0, is focused on counteracting ongoing print industry volume declines in order to reposition the business toward growth. During 2019, this strategy led to $225 million of organic incremental sales growth, helping to significantly offset print sales decline. Our ultimate goal is to completely offset the organic sales decline through growth of our higher-margin marketing solutions, which drive revenue across all our products and services.”
Added Quadracci: “We continue to win segment share, which reflects the strength of our offering as well as the long-term financial and operational stability of our company. We recently secured 100 percent of print volumes from two large national magazine publishers, and are onboarding that multi-year work now. We also continue to optimize our product portfolio for the long term through the lens of Quad 3.0. Most recently we divested our Omaha packaging plant to focus on our higher value packaging solutions that help clients create a cohesive brand experience across channels. This follows our decision to divest our book business and sell our industrial wood crating business in 2019.”
Summary Results
Results for the three months ended December 31, 2019, included:
Net Sales (excluding discontinued operations) — Net sales were $1.1 billion in 2019, down 4.9% from 2018. Organic sales declined 5.9% during the quarter, after excluding sales related to the January 2019 acquisition of Periscope. The organic results benefitted from new sales generated from the Company’s Quad 3.0 growth strategy, which were offset by ongoing print industry volume and pricing pressures, and a negative 0.3% impact from foreign exchange.
Net Earnings Attributable to Quad Common Shareholders — Net earnings attributable to Quad common shareholders were $8 million in 2019, or $0.15 diluted earnings per share, as compared to net loss of $21 million in 2018, or $0.42 diluted loss per share. Excluding the results from discontinued operations, net earnings from continuing operations were $7 million in 2019, or $0.14 diluted earnings per share, as compared to net loss from continuing operations of $11 million in 2018, or $0.23 diluted loss per share.
Adjusted EBITDA (excluding discontinued operations) — Adjusted EBITDA was $96 million in 2019, as compared to $118 million in 2018, and Adjusted EBITDA margin was 9.0% in 2019, as compared to 10.5% in 2018. The variance to prior year primarily reflects the impact from the organic sales decline of 5.9%, a $13 million decrease in print profits from the reduction in market price for paper byproduct recoveries, the impact of a $6 million gain in 2018 from a sales tax litigation settlement in Peru, and $5 million of strategic investments made to increase hourly production employees’ wages, partially offset by cost reduction activities.
Results for the full-year ended December 31, 2019, included:
Net Sales (excluding discontinued operations) — Net sales were $3.9 billion in 2019 as compared to $4.0 billion in 2018, down 1.6%. Organic sales declined 3.5% after excluding sales related to the acquisitions of Ivie and Periscope, and an investment in Rise Interactive. The organic results reflect new sales generated from the Company’s Quad 3.0 growth strategy, offset by ongoing print industry volume and pricing pressures, and a negative 0.6% impact from foreign exchange.
Net Loss Attributable to Quad Common Shareholders — Net loss attributable to Quad common shareholders was $156 million in 2019, or $3.12 diluted loss per share, as compared to net earnings of $9 million in 2018, or $0.16 diluted earnings per share. Excluding the results from discontinued operations, net loss from continuing operations was $56 million in 2019, or $1.11 diluted loss per share, as compared to net earnings from continuing operations of $30 million in 2018, or $0.59 diluted earnings per share.
Adjusted EBITDA (excluding discontinued operations) — Adjusted EBITDA was $335 million in 2019, as compared to $428 million in 2018, and Adjusted EBITDA margin was 8.5% in 2019, as compared to 10.7% in 2018. The variance to prior year primarily reflects the impact from the organic sales decline of 3.5%, $33 million in non-recurring benefits in 2018 that did not repeat at the same level in 2019, a $29 million impact from strategic investments made to increase hourly production employees’ wages, and a $27 million decrease in print profits from the reduction in market price for paper byproduct recoveries, partially offset by cost reduction activities.
Net Cash Provided by Operating Activities — Net cash provided by operating activities was $156 million in 2019, as compared to $261 million in 2018, primarily due to lower net earnings and $61 million in transaction costs associated with a terminated acquisition during the year.
Free Cash Flow — Free Cash Flow, excluding $61 million in payments from a terminated acquisition, was $106 million in 2019, as compared to $164 million in 2018, primarily due to lower net earnings and increased capital expenditures on long-term investments in automation and productivity improvements in the manufacturing platform.
Dividend
Quad’s next quarterly dividend of $0.15 per share will be payable on March 9, 2020, to shareholders of record as of February 28, 2020.
Dave Honan, Executive Vice President and CFO, concluded: “In fiscal 2020, we remain disciplined in our efforts to manage our costs, and drive earnings and Free Cash Flow growth to reduce our leverage and further strengthen our balance sheet. In line with these goals, we have doubled our previously announced $50 million cost reduction program to $100 million, which we expect to fully realize in 2020. Looking ahead, these efforts, and the ongoing success of our Quad 3.0 strategy, are expected to continue to significantly offset ongoing print industry volume and pricing pressures.”
Quarterly Conference Call
Quad will hold a conference call at 10 a.m. ET on Wednesday, February 19, to discuss fourth quarter and full-year 2019 results.
Participants can pre-register for the webcast by navigating to http://dpregister.com/10137590. Participants will be given a unique PIN to gain immediate access to the call on February 19, bypassing the live operator. Participants may pre-register at any time, including up to and after the call start time.
Alternatively, participants without internet access may dial in on the day of the call as follows:
U.S. Toll-Free: 1-877-328-5508
International Toll: 1-412-317-5424
An audio replay of the call will be posted on the Investors section of Quad’s website shortly after the conference call ends. In addition, telephone playback will also be available until March 19, 2020, accessible as follows:
U.S. Toll-Free: 1-877-344-7529
International Toll: 1-412-317-0088
Replay Access Code: 10137590
https://ih.advfn.com/stock-market/NYSE/quad-graphics-QUAD/stock-news/81787777/quad-reports-fourth-quarter-and-full-year-2019-res
swanlinbar
6 years ago
Quad/Graphics misses by $0.03, beats on revenue
Apr. 30, 2019 4:31 PM ET|About: Quad/Graphics, Inc. (QUAD)|By: Niloofer Shaikh, SA News Editor
Quad/Graphics (NYSE:QUAD): Q1 Non-GAAP EPS of -$0.15 misses by $0.03; GAAP EPS of -$0.45.
Revenue of $1B (+3.4% Y/Y) beats by $20.42M.
Press Release
Net sales increased 3.8% during the first quarter ended March31, 2019, to $1billion, primarily from the impact of the Periscope acquisition. Organic sales declined 0.6% after excluding a 4.4% acquisition sales impact. The organic results reflect ongoing print industry volume and pricing pressures partially offset by an increase in paper sales.
Net Loss attributable to Quad common shareholders during the first quarter of 2019 was $22.5million, or $0.45 Loss Per Share, as compared to a loss of $3.5million, or $0.07 per share, in 2018. Excluding the loss on debt extinguishment in 2019, an employee stock ownership plan contribution in 2018 and restructuring costs, Non-GAAP Adjusted Diluted Loss Per Share for the first quarter of 2019 was $0.15 per share compared to earnings of $0.58 per share in the first quarter 2018. First quarter 2019 Non-GAAP Adjusted EBITDA came in as expected at $70million compared to $110million in the first quarter of 2018, and Adjusted EBITDA Margin was 7.0% compared to 11.4% in 2018. The Adjusted EBITDA variance to prior-year primarily reflects $22million in non-recurring benefits in 2018 that did not repeat at the same level in 2019, an $8million impact from strategic investments made to increase hourly production employees' wages and the impact from the organic print sales decline of 0.6%, partially offset by the earnings impact from the growth in Quad's integrated services revenues.
Penny Roger$
13 years ago
Quad/Graphics, Inc. (Quad/Graphics) is a printer of magazines, catalogs and other commercial products. The Company provides services ranging from front-end design and photography through digital imaging, printing, list management, finishing and dependable distribution. In July 2010, Quad/Graphics, Inc. acquired World Color Press Inc. In December 2010, the Company created a new Commercial and Specialty print division that combines recently acquired HGI Company operations in Burlington and Menomonee Falls, Wisconsin, with the commercial and book operations in Enfield, Connecticut, and Leominster, Massachusetts. On September 8, 2011, the Company acquired the Mexican assets and the book printing business of Transcontinental Inc. In February 2012, the Company purchased Dallas-based Williamson Printing Corporation, a full-service commercial and specialty products printer specializing in short- to medium-run catalogs, case-bound books, direct mail and other promotional products.
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