Quad/Graphics (QUAD) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34806 QUAD/GRAPHICS, INC. (Exact name of registrant as specified in its charter) Wisconsin 39-1152983 (State or other jurisdiction of incorporat ...

Financial Data and Key Metrics Changes - In Q4 2025, net sales were $631 million, a decrease of 5.7% compared to Q4 2024, excluding the divestiture of European operations [24] - For the full year 2025, net sales were $2.4 billion, a 4.8% decline compared to 2024, also excluding the European divestiture [24] - Adjusted EBITDA for Q4 2025 was $55 million, down from $63 million in Q4 2024, while full-year adjusted EBITDA was $196 million, compared to $224 million in 2024 [26] - Adjusted diluted earnings per share for Q4 2025 was $0.36, consistent with Q4 2024, while full-year adjusted diluted earnings per share increased by 19% to $1.01 [26] Business Line Data and Key Metrics Changes - Targeted print categories, including direct mail and packaging, experienced net sales growth, while traditional print product lines like magazines and catalogs saw declines [4][25] - The QuadMed employer-sponsored healthcare business also showed revenue increases, offsetting declines in logistics and agency sales [25] Market Data and Key Metrics Changes - The company reported a significant increase in co-mail volumes by over 50%, enhancing carrier route density levels and achieving postal savings [57] - The postal service is expected to implement a mid-year rate increase of 6%-8%, which could impact marketing spend [80] Company Strategy and Development Direction - The company is focused on revenue diversification and has made targeted investments in artificial intelligence to drive efficiency and effectiveness in marketing solutions [4][19] - Quad aims to return to net sales growth by 2028, with a strategic emphasis on integrated marketing solutions and targeted print offerings [4][42] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, noting increased confidence among clients and a potential for reinvestment [75] - The company is closely monitoring inflationary pressures and postal rate increases, which could affect marketing spend [40] Other Important Information - The company increased its quarterly dividend by 33% to $0.10 per share, reflecting a commitment to shareholder returns [5][31] - A significant transition in the manufacturing network was announced, with the closure of a plant in Thomaston, Georgia, expected to be completed by early March [22] Q&A Session Summary Question: Insights on direct mail performance and future trends - Management clarified the distinction between direct mail as a product and the direct marketing agency, emphasizing the importance of personalized, data-driven approaches to enhance response rates [47][48] Question: Impact of postal rate increases on catalogs - Management noted that while catalogs have been responsive, the significant increases in postal rates have led to further declines in catalog usage, particularly in prospecting mailings [56] Question: Updates on In-Store Connect and future deployments - Management indicated that there has been an acceleration in conversations and opportunities regarding In-Store Connect, with plans for further rollouts [60] Question: Factors influencing 2026 sales and Adjusted EBITDA guidance - Management highlighted that postal impacts and the momentum in targeted print categories will influence the sales trend, with expectations for improved margins as the revenue mix evolves [66][67] Question: Capital allocation strategy moving forward - Management confirmed a balanced approach to capital allocation, focusing on shareholder returns, potential tuck-in acquisitions, and growth investments [68][69]

Quad/Graphics (NYSE:QUAD) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Company ParticipantsJoel Quadracci - Chairman and CEOJulie Currie - EVP and Chief Revenue OfficerTony Staniak - CFO and TreasurerConference Call ParticipantsBarton Crockett - Managing Director and Senior Research AnalystKevin Steinke - Equity Research AnalystOperatorA slide presentation accompanies today's webcast, and participants are invited to follow along, advancing the slides themselves. To access the webcast, follow the inst ...

Quad/Graphics (NYSE:QUAD) Q4 2025 Earnings call February 18, 2026 08:30 AM ET Speaker4A slide presentation accompanies today's webcast, and participants are invited to follow along, advancing the slides themselves. To access the webcast, follow the instructions posted on the earnings release. Alternatively, you can access the slide presentation on the Investors section of Quad's website under the Events and Presentations link. After today's presentation, there will be an opportunity to ask questions. To ask ...

February 18, 2026 The factors that could cause actual results to materially differ include, among others: the impact of increased business complexity as a result of the Company's transformation to a marketing experience company, including adapting marketing offerings and business processes as required by new markets; the impact of decreasing demand for printing services and significant overcapacity in a highly competitive environment creating downward pricing pressures and potential under-utilization of ass ...

Financial Performance - Net Sales for 2025 were $2.4 billion, a 9.4% decline from $2.7 billion in 2024, with a 4.8% decline when excluding the divestiture of European operations[3] - Net Earnings improved to $27 million or $0.54 Diluted Earnings Per Share in 2025, compared to a Net Loss of $51 million or $1.07 Diluted Loss Per Share in 2024[3] - Adjusted EBITDA for 2025 was $196 million, down from $224 million in 2024, primarily due to lower Net Sales and increased investments in innovative offerings[3] - Net earnings for the year ended December 31, 2025, were $27.0 million, a significant improvement from a loss of $50.9 million in 2024[40] - Adjusted diluted earnings per share for the year ended December 31, 2025, increased to $1.01 from $0.85 in 2024, while diluted earnings per share (GAAP) improved to $0.54 from a loss of $1.07[51] Cash Flow and Debt Management - Free Cash Flow was $51 million in 2025, compared to $56 million in 2024, driven by a $17 million decrease in Net Cash Provided by Operating Activities[11] - Net Debt was reduced by $42 million to $308 million in 2025, achieving a Net Debt Leverage Ratio of 1.57x[3] - Cash and cash equivalents increased to $63.3 million in 2025, up from $29.2 million in 2024, enhancing liquidity[29] - Payments of current and long-term debt decreased to $28.6 million in 2025 from $183.7 million in 2024, a reduction of about 84.4%[32] - The company reported a net cash used in financing activities of $36.1 million in 2025, down from $149.1 million in 2024, indicating a decrease of approximately 75.8%[32] Operational Efficiency - Operating income increased to $37.3 million in Q4 2025, compared to $19.7 million in Q4 2024, reflecting improved operational efficiency[25] - The company completed the integration of Enru's co-mailing capabilities, enhancing operational efficiency and client value[3] - Selling, general and administrative expenses decreased to $325.9 million in 2025 from $356.8 million in 2024, reflecting cost control measures[28] Future Outlook - For 2026, the company anticipates a Net Sales decline of 1% to 5%, with Adjusted EBITDA guidance between $175 million and $215 million[10] - The company plans to remain opportunistic regarding future share repurchases following strong cash generation in 2025[6] - The company aims to shift revenue mix towards higher-value offerings, including Targeted Print and integrated marketing services[5] Market and Segment Performance - Net sales for Q4 2025 were $630.6 million, a decrease of 11% from $708.4 million in Q4 2024[25] - The United States Print and Related Services segment generated net sales of $2,214.4 million in 2025, down from $2,329.5 million in 2024, a decrease of about 4.9%[34] Impairments and Charges - The company incurred impairment charges of $7.5 million in 2025, a significant reduction from $74.9 million in 2024[32] - Restructuring, impairment, and transaction-related charges for 2025 totaled $21.8 million, significantly lower than $101.5 million in 2024[51] - Employee termination charges in 2025 were $26.1 million, down from $30.5 million in 2024, reflecting workforce reductions[40] - The company incurred a settlement charge of $12.8 million related to the defined benefit pension plan annuitization in 2025[49] Non-GAAP Measures - Adjusted EBITDA for the three months ended December 31, 2025, was $54.8 million, compared to $62.6 million in the same period of 2024, indicating a decline of approximately 12.5%[38] - The company continues to assess its performance using non-GAAP measures, which are believed to provide additional insights into profitability and liquidity[40]

Quad Reports Fourth Quarter and Full-Year 2025 Results [Accessibility Statement] Skip NavigationAchieved 2025 Financial GuidanceIntroduces 2026 Financial Guidance Consistent with Progress Toward 2028 OutlookIncreased Quarterly Dividend by 33% to $0.10 Per ShareSUSSEX, Wis., Feb. 17, 2026 /PRNewswire/ - - Quad/Graphics, Inc. (NYSE: QUAD) ("Quad" or the "Company"), a marketing experience company that solves complex marketing challenges for its clients, today reported results for the fourth quarter and fiscal ...

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Core Viewpoint - Quad/Graphics, Inc. announced a 33% increase in its quarterly dividend, reflecting confidence in its cash flow generation and capital allocation strategy [1] Group 1: Dividend Announcement - The Board of Directors approved an increase in the quarterly dividend from $0.075 per share to $0.10 per share, translating to an annualized increase from $0.30 to $0.40 per share [1] - The increased dividend is payable on March 13, 2026, to shareholders of record as of February 27, 2026 [1] Group 2: Company Strategy and Financial Position - The company aims to strengthen its financial position and create long-term shareholder value through disciplined capital allocation and growth investments [1] - Joel Quadracci, Chairman, President, and CEO, emphasized the company's confidence in its cash flow generation and low debt leverage [1] Group 3: Company Overview - Quad is a marketing experience company that provides integrated marketing and print services across various channels, serving approximately 2,100 clients [1] - The company employs around 10,000 people in 10 countries and is recognized as one of the largest commercial printers in North America [1]