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Last $14.20 USD
Change Today 0.00 / 0.00%
Volume 271.0K
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

quad graphics inc (QUAD) Key Developments

Quad/Graphics, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year 2015; Announces Impairment Charges for the Second Quarter Ended June 30, 2015

Quad/Graphics, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $1,079 million, operating loss of $25.8 million, loss before income taxes and equity in loss of unconsolidated entities of $47.4 million, loss before equity in loss of unconsolidated entities of $43.6 million, net loss attributable to company common shareholders of $45.1 million or $0.94 per basic and diluted share against net sales of $1,099 million, operating loss of $0.5 million, loss before income taxes and equity in loss of unconsolidated entities of $29 million, loss before equity in loss of unconsolidated entities of $19.4 million, net loss attributable to company common shareholders of $22.8 million or $0.48 per basic and diluted share for the same period a year ago. EBITDA (Non-GAAP) was $56.1 million against $76.4 million for the same period a year ago. Adjusted EBITDA (Non-GAAP) was $90.4 million against $102.3 million for the same period a year ago. The Adjusted EBITDA variance primarily reflects ongoing industry volume and pricing pressures partially offset by incremental earnings from acquisitions. Adjusted net loss was $9.4 million or $0.20 per diluted share against adjusted net loss of $5.3 million or $0.11 per diluted share a year ago. For the six months period, the company reported net sales of $2,187.0 million compared to $2,201.8 million a year ago. Operating income was $37.6 million compared to $11.5 million a year ago. Loss before income taxes and equity in loss of unconsolidated entities of $81.7 million compared to $38.9 million a year ago. Loss before equity in loss of unconsolidated entities was $76.9 million against $28.1 million a year ago. Net loss attributable to company common shareholders was $80.3 million or $1.68 per basic and diluted share compared to $31.6 million or $0.67 per basic and diluted share a year ago. Net cash provided by operating activities was $123.4 million against $78.9 million a year ago. Purchases of property, plant and equipment was $83.3 million against $83.6 million a year ago. EBITDA (Non-GAAP) was $123.7 million against $171.1 million for the same period a year ago. Adjusted EBITDA (Non-GAAP) was $191.4 million against $208.9 million for the same period a year ago. Adjusted net loss was $11.8 million or $0.25 per diluted share against adjusted net loss of $4.2 million or $0.09 per diluted share a year ago. For the second quarter ended June 30, 2015, the company reported impairment charges of $17.8 million against $2.0 million a year ago. The company expects full-year 2015 net sales to be in the range of $4.8 billion to $4.9 billion, narrowed from its prior guidance range of $4.8 billion to $5.0 billion, and full-year 2015 Adjusted EBITDA to be in the range of $500 million to $520 million, narrowed from its prior guidance range of $500 million to $540 million. The company continues to believe Quad/Graphics will be a significant free cash flow generator and, because of the sustainable improvements impacting working capital, the company remains confident in full-year 2015 free cash flow guidance of $180 million to $200 million.

Quad/Graphics Seeks Acquisitions

Quad/Graphics, Inc. (NYSE:QUAD) is seeking acquisitions. Dave Honan, Chief Financial Officer, said, "We will continue our focus on maintaining a strong and flexible balance sheet, to adjust to changing industry conditions. While also investing in our business, including compelling acquisition opportunities and returning capital to our shareholders, through our robust quarterly dividend."

Quad/Graphics, Inc. Declares Quarterly Dividend, Payable on September 18, 2015

Quad/Graphics, Inc. declared quarterly dividend of $0.30 per share will be payable on September 18, 2015, to shareholders of record as of September 7, 2015.

Quad/Graphics, Inc., Q2 2015 Earnings Call, Aug 05, 2015

Quad/Graphics, Inc., Q2 2015 Earnings Call, Aug 05, 2015

Quad/Graphics Inc. Seeks Approval for Packaging Expansion in Franklin

Quad/Graphics Inc. plans to add roughly 60,000 square feet for printing, packaging and warehousing at a building that previously housed Proteus Packaging, according to a site plan filed with the Franklin Community Development Authority. Quad, based in Sussex, prints magazines, books and promotional materials around the world and generated $4.68 billion in sales in 2014. It projects the cost of the addition to the packaging operation in the Franklin Business Park will be $3.2 million, according to the filing with the city. The request for building and site plan approvals will be considered by the authority. The expansion will include two additions - 48,640 square feet on the north side of the current building and 15,360 square feet on the west side. The building now contains 241,908 square feet.

 

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Industry Analysis

QUAD

Industry Average

Valuation QUAD Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.1x
Price/Book 0.7x
Price/Cash Flow 2.3x
TEV/Sales NM Not Meaningful
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