SUSSEX, Wis., June 12, 2024 /PRNewswire/ -- Quad/Graphics, Inc. (NYSE: QUAD), a global marketing experience company, has been ranked #22 among the top healthcare marketing firms in North America according to the 2024 MM+M Agency 100. This is the first time Quad has been included in the media brand's annual ranking, which is based on North American revenue. Quad has served brands across the health vertical for more than 20 years. The company continues to build momentum in the industry through targeted expans ...

SUSSEX, Wis., June 6, 2024 /PRNewswire/ -- Quad/Graphics, Inc. (NYSE: QUAD), a global marketing experience company, today announced that Chairman, President and CEO Joel Quadracci, and Chief Financial Officer Tony Staniak will present and host one-on-one and small group meetings with investors at the Sidoti Virtual Investor Conference on June 12-13, 2024. Joining them will be Don Pontes, Executive Director of Investor Relations for Quad. The presentation will begin at 12:15 p.m. ET on Wednesday, June 12, an ...

Core Insights - Quad/Graphics, Inc. has launched 3D Commerce, becoming the first company in North America to install the Covision Media 3D-Twin scanner for client-facing projects [1][2][3] - The new technology allows for the creation of "digital twins," which are photorealistic 3D assets that can be used across various channels, enhancing marketing strategies for brands [3][4] Company Overview - Quad is a global marketing experience company that employs approximately 13,000 people across 14 countries and serves around 2,700 clients, including major blue-chip companies [9] - The company focuses on streamlining marketing complexities through innovative solutions, driving cost efficiencies, and improving speed to market [8] Technology and Innovation - The Covision Media system utilizes a series of 30 cameras in a spherical array, enabling mass-production scanning with minimal manual post-production work [7] - The technology employs artificial intelligence to enhance the quality of 3D models, mapping features such as lighting, textures, and colors to create unique digital assets for brands [7][11] Market Impact - The introduction of 3D Commerce is expected to transform content creation by simplifying workflows and maximizing reach in a competitive landscape [5][6] - This solution allows marketers to use a single adaptable asset across multiple channels, which is seen as a significant advancement for brand engagement [5][6]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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 jur ...

Quad/Graphics, Inc. (QUAD) Q1 2024 Earnings Conference Call May 1, 2024 8:30 AM ET Company Participants Katie Krebsbach - IR Manager Joel Quadracci - Chairman, President and CEO Anthony Staniak - CFO Conference Call Participants Kevin Steinke - Barrington Research Barton Crockett - Rosenblatt Securities Operator Good morning, and welcome to Quad's First Quarter 2024 Conference Call. [Operator Instructions]. A slide presentation accompanies today's webcast and participants are invited to follow along, advanc ...

Quad Reports First Quarter 2024 Results Reaffirms full-year 2024 financial guidance, including 1.8x Net Debt Leverage by year end Exhibit 99.1 FOR IMMEDIATE RELEASE SUSSEX, WI, April 30, 2024 — 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 Joel Quadracci, Chairman, President and CEO of Quad, said: "Our first quarter results were in-line with our expectations, and we remai ...

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, 2023 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 - Net sales for Q4 2023 were $788 million, down 11% from Q4 2022, and full-year net sales were $3 billion, down 8% from 2022, primarily due to lower print, paper, and logistics sales, as well as the divestiture of Argentina print operations [12][14] - Adjusted EBITDA for Q4 2023 was $66 million, compared to $79 million in Q4 2022, with an adjusted EBITDA margin decline from 8.9% to 8.3% [13] - Full-year adjusted EBITDA was $234 million in 2023, down from $252 million in 2022, but the adjusted EBITDA margin improved from 7.8% to 7.9% [13] - Adjusted diluted earnings per share were $0.23 in Q4 2023, down from $0.41 in Q4 2022, and for the full year, it was $0.52 compared to $0.89 in 2022 [14] - Free cash flow was $77 million in 2023, down from $94 million in 2022, primarily due to increased capital expenditures [15] Business Line Data and Key Metrics Changes - Integrated solutions and targeted print now represent 63% of net sales, up from 54% five years ago, indicating a shift towards higher value offerings [39] - Large-scale print continues to decline, particularly in retail inserts, which have seen double-digit declines for many years [58] Market Data and Key Metrics Changes - The company expects annual net sales in 2024 to decline by 5% to 9%, influenced by organic declines in certain product lines and the end of a relationship with a large grocery client, which represented approximately 3% of 2023 net sales [21][22] - The U.S. Postal Service's significant postal rate increases have negatively impacted client budgets and mail volumes, leading to a decline in direct mail and catalog sales [61][66] Company Strategy and Development Direction - The company is focusing on becoming a marketing experience (MX) company, emphasizing integrated service excellence, market penetration in key verticals, and leveraging its unique company culture [38] - A strategic investment in retail media networks through the acquisition of DART Innovation aims to enhance in-store digital media solutions and improve the consumer purchasing journey [48][102] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in addressing business impacts from economic uncertainty and postal rate increases, while also managing costs effectively [35][60] - The company anticipates that the first quarter of 2024 will see the lowest adjusted EBITDA due to restructuring actions, with improvements expected in the second half of the year [26] Other Important Information - The company has reinstated a quarterly dividend of $0.05 per share, reflecting a commitment to returning capital to shareholders [17][104] - A multiyear debt reduction strategy has successfully reduced net debt by $564 million, achieving a leverage ratio of 2.0 times by the end of 2023 [18][29] Q&A Session Summary Question: Sales outlook for 2024 and expected declines in product categories - Management noted expected organic declines in large-scale print, particularly retail inserts, due to economic uncertainty and significant postal rate increases [31][60] Question: Impact of postal rate increases on business - Management indicated that the postal service's strategy of significant rate hikes is unsustainable and has led to reduced mail volumes, affecting client budgets [66][71] Question: Loss of a grocery client and future plans - Management acknowledged the loss of a longtime grocery client but emphasized the need to be compensated fairly for services provided and expressed confidence in backfilling the revenue loss over time [77][78] Question: Demand for agency solutions and business pipeline - Management reported a strong business pipeline for agency solutions, driven by a recent brand relaunch and increased access to new clients [80] Question: Reinstatement of the dividend and future plans - Management discussed the decision to reinstate the dividend as a sustainable starting point, with a focus on maintaining a strong balance sheet and continuing debt reduction [86][104]

4th Quarter 2023 Earnings Call Statements The factors that could cause actual results to materially differ include, among others: the impact of decreasing demand for printing services and significant overcapacity in a highly competitive environment creates downward pricing pressures and potential under-utilization of assets; the impact of increased business complexity as a result of the Company's transformation to a marketing experience company; the impact of changes in postal rates, service levels or regul ...

Financial Performance - Net Sales for Q4 2023 were $788 million, an 11% decrease compared to Q4 2022, primarily due to lower paper, print, and logistics sales, as well as the divestiture of the Argentina print operations[12] - Net Loss for Q4 2023 was $22 million, compared to a Net Loss of $9 million in Q4 2022, driven by lower sales, increased interest expense, and lower pension income[12] - Adjusted EBITDA for Q4 2023 was $66 million, down from $79 million in Q4 2022, due to lower sales and pension income, partially offset by improved manufacturing productivity[12] - Full-year 2023 Net Sales were $3.0 billion, an 8% decline from 2022, primarily due to lower print, paper, and logistics sales, and the divestiture of Argentina operations[14] - Full-year 2023 Net Loss was $55 million, compared to Net Earnings of $9 million in 2022, driven by lower sales, higher restructuring charges, and increased interest expense[14] - Adjusted EBITDA for 2023 was $234 million, down from $252 million in 2022, primarily due to lower pension income and sales, partially offset by cost savings[14] - Net sales for Q4 2023 decreased to $787.9 million from $885.2 million in Q4 2022, representing a decline of approximately 11%[29] - Full-year net sales for 2023 were $2,957.7 million, down from $3,217.0 million in 2022, a decrease of about 8.1%[31] - Net loss for Q4 2023 was $22.0 million, compared to a net loss of $8.7 million in Q4 2022[29] - Full-year net loss for 2023 was $55.4 million, compared to net earnings of $9.3 million in 2022[31] - Net earnings (loss) for 2023 was $(55.4) million, compared to $9.3 million in 2022, indicating a significant decline in profitability[35] - Adjusted EBITDA for 2023 was $233.7 million, down from $252.2 million in 2022, with Adjusted EBITDA Margin slightly increasing to 7.9% from 7.8%[38] - Adjusted net earnings (non-GAAP) for 2023 were $26.2 million, compared to $46.9 million in 2022[50] - Adjusted diluted earnings per share (non-GAAP) for 2023 was $0.52, down from $0.89 in 2022[50] - Earnings (loss) before income taxes were $(42.6) million in 2023, compared to $17.7 million in 2022[50] - Income tax expense at 25% normalized tax rate was $8.7 million in 2023, down from $15.6 million in 2022[50] Debt and Liquidity - Net Debt decreased by $75 million to $470 million at the end of 2023, with a Debt Leverage Ratio of 2.0x, down from 2.2x in 2022[14] - Cash and cash equivalents increased to $52.9 million as of December 31, 2023, up from $25.2 million at the end of 2022[33] - Total debt decreased to $362.5 million in 2023 from $506.7 million in 2022, reflecting a reduction in long-term debt[33] - Net Debt decreased to $469.8 million in 2023 from $545.0 million in 2022, with the Debt Leverage Ratio improving to 2.01x from 2.16x[44] - Net cash provided by operating activities decreased to $147.6 million in 2023 from $154.6 million in 2022[35] - Free Cash Flow for 2023 was $76.8 million, a decrease from $94.3 million in 2022[39] Cost Management and Restructuring - The company anticipates $60 million in cost savings from plant capacity and labor reduction initiatives in response to external headwinds[8] - Restructuring, impairment, and transaction-related charges for 2023 totaled $77.5 million, up from $44.8 million in 2022, primarily due to higher employee termination and impairment charges[38] - Restructuring, impairment, and transaction-related charges increased to $77.5 million in 2023 from $44.8 million in 2022[50] Guidance and Future Outlook - 2024 guidance includes a projected 5% to 9% decline in Annual Net Sales and Adjusted EBITDA of $205 million to $245 million, with a target Debt Leverage Ratio of approximately 1.8x[15] - The company reinstated a quarterly dividend of $0.05 per share and expects to continue opportunistic share repurchases[8] Operational Metrics - The company employs approximately 13,000 people across 14 countries and serves around 2,700 clients[25] - Quad is ranked as the 14th largest agency company in the U.S. by Ad Age (2023) and the second-largest commercial printer in North America[25] - The company highlights the impact of macroeconomic conditions, including inflation and high interest rates, on its business operations and financial performance[20] Non-GAAP Financial Measures - Adjusted EBITDA margin for 2023 was not explicitly stated, but the company emphasizes its importance as a key profitability metric[22][23] - The company uses non-GAAP financial measures such as EBITDA, Adjusted EBITDA, and Free Cash Flow to assess profitability and liquidity[51] Capital Expenditures and Depreciation - Depreciation and amortization expenses decreased to $128.8 million in 2023 from $141.3 million in 2022[35] - Purchases of property, plant, and equipment increased to $70.8 million in 2023 from $60.3 million in 2022, indicating higher capital expenditures[35] Shareholder Returns - Diluted weighted average number of common shares outstanding (non-GAAP) decreased to 50.7 million in 2023 from 52.5 million in 2022[50] - Basic weighted average number of common shares outstanding decreased to 48.4 million in 2023 from 50.7 million in 2022[50]