Financial Performance - Net Sales for Q3 2025 were $588 million, a 13% decline from $675 million in Q3 2024, with a 7% decline when excluding the 6% impact from the divestiture of European operations[5]. - Net Earnings improved to $10 million or $0.21 Diluted Earnings Per Share in Q3 2025, compared to a Net Loss of $25 million or $0.52 Diluted Loss Per Share in Q3 2024[5]. - Adjusted EBITDA for Q3 2025 was $53 million, down from $59 million in Q3 2024, primarily due to lower Net Sales and increased investments in innovative offerings[10]. - Year-to-date, Net Sales reached $1.8 billion, a 9% decrease compared to the same period in 2024, with a 4% decline when excluding the impact of the divestiture[10]. - Adjusted Diluted Earnings Per Share for Q3 2025 increased by 19% to $0.31 from $0.26 in Q3 2024[10]. - Operating income for Q3 2025 was $26.4 million, compared to an operating loss of $4.9 million in Q3 2024[29]. - Net earnings for Q3 2025 were $10.2 million, a significant improvement from a net loss of $24.7 million in Q3 2024[29]. - For the nine months ended September 30, 2025, net sales were $1,789.3 million, down 8.8% from $1,963.8 million in the same period of 2024[31]. - Net earnings for the nine months ended September 30, 2025, were $15.9 million, a significant improvement from a loss of $55.6 million in the same period of 2024[35]. - EBITDA for the nine months ended September 30, 2025, was $118.3 million, compared to $79.5 million in 2024, reflecting an increase of 48.8%[43]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $141.4 million, down from $161.4 million in 2024, indicating a decrease of 12.8%[43]. - The EBITDA margin for the nine months ended September 30, 2025, improved to 6.6%, up from 4.0% in 2024[43]. - The company reported a basic earnings per share of $0.21 for Q3 2025, compared to a loss per share of $0.52 in Q3 2024[29]. - Earnings (loss) before income taxes for the nine months ended September 30, 2025, was $20.2 million, a significant recovery from $(49.3) million in 2024[53]. Cash Flow and Shareholder Returns - The company returned $19 million to shareholders year-to-date, consisting of $11 million in cash dividends and $8 million in share repurchases[5]. - The quarterly dividend of $0.075 per share is payable on December 5, 2025, to shareholders of record as of November 17, 2025[12]. - The company expects fourth quarter 2025 Free Cash Flow to be between $137 million and $147 million, following a negative Free Cash Flow of $87 million year-to-date[16]. - Total net cash used in operating activities for the nine months ended September 30, 2025, was $(50.0) million, compared to $(45.9) million in 2024[35]. - The company reported a net cash decrease in cash and cash equivalents of $(23.0) million for the nine months ended September 30, 2025, compared to $(40.4) million in 2024[35]. - Free Cash Flow (non-GAAP) for the nine months ended September 30, 2025, was $(86.5) million, an improvement from $(91.6) million in 2024[46]. Debt and Financial Position - Net Debt was $465 million as of September 30, 2025, an increase from $350 million at the end of 2024[16]. - As of September 30, 2025, total debt and finance lease obligations were $471.4 million, up from $379.2 million as of December 31, 2024[48]. - Net Debt (non-GAAP) increased to $465.2 million as of September 30, 2025, compared to $350.0 million at the end of 2024[48]. - The Net Debt Leverage Ratio (non-GAAP) rose to 2.28x as of September 30, 2025, from 1.56x at the end of 2024[48]. - Cash and cash equivalents at the end of the period were $6.2 million as of September 30, 2025, down from $12.5 million in 2024[35]. Operational Challenges and Strategic Initiatives - The company faced significant challenges including increased operating costs and decreased demand for printing services, impacting overall performance[22]. - The company is undergoing a transformation to adapt to new markets and technologies, including artificial intelligence, which may affect future performance[22]. - The company incurred restructuring, impairment, and transaction-related charges of $23.1 million for the nine months ended September 30, 2025, compared to $81.9 million in 2024[43]. Segment Performance - The United States Print and Related Services segment generated net sales of $1,623.1 million for the nine months ended September 30, 2025, compared to $1,702.3 million in 2024, a decrease of 4.7%[37]. - The International segment reported net sales of $166.2 million for the nine months ended September 30, 2025, down from $261.5 million in 2024, a decline of 36.5%[37].

Core Insights - Quad/Graphics, Inc. narrows its full-year 2025 financial guidance for sales, adjusted EBITDA, and cash flow, indicating a strategic focus on improving operational efficiencies and shareholder value [1][5][12] - The company reported a third-quarter net sales of $588 million, a 13% decline from the same period in 2024, primarily due to lower paper sales and print volumes [8][9] - Quad continues to invest in AI-powered tools and audience intelligence services to enhance marketing effectiveness and drive long-term growth [3][4] Financial Performance - Net sales for the third quarter of 2025 were $588 million, down from $675 million in Q3 2024, reflecting a 13% decline [8][9] - Net earnings improved to $10 million or $0.21 diluted earnings per share in Q3 2025, compared to a net loss of $25 million or $0.52 diluted loss per share in Q3 2024 [9][25] - Adjusted EBITDA for Q3 2025 was $53 million, down from $59 million in the same period last year [9][29] Year-to-Date Results - For the nine months ended September 30, 2025, net sales totaled $1.8 billion, a 9% decrease compared to the same period in 2024 [9][25] - Year-to-date net earnings were $16 million or $0.32 diluted earnings per share, compared to a net loss of $56 million or $1.17 diluted loss per share in 2024 [9][25] - Adjusted EBITDA for the nine months was $141 million, down from $161 million in 2024 [9][25] Shareholder Returns - The company returned $19 million of capital to shareholders year-to-date, consisting of $11 million in cash dividends and $8 million in share repurchases [5][9] - A quarterly dividend of $0.075 per share has been declared, payable on December 5, 2025 [11] Updated Financial Guidance - Quad has updated its full-year 2025 financial guidance, narrowing the adjusted annual net sales change to a 3% to 5% decline, improved from the previous guidance of a 2% to 6% decline [12] - Adjusted EBITDA guidance has been revised to a range of $190 million to $200 million, up from the original range of $180 million to $220 million [12] - The anticipated year-end net debt leverage ratio has been updated from approximately 1.5x to approximately 1.6x [12]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Core Insights - Quad/Graphics has consistently beaten earnings estimates, with an average surprise of 101.19% over the last two quarters [1][2] Earnings Performance - For the last reported quarter, Quad/Graphics earned $0.14 per share, exceeding the Zacks Consensus Estimate of $0.12 per share, resulting in a surprise of 16.67% [2] - In the previous quarter, the company was expected to earn $0.07 per share but reported $0.20 per share, delivering a surprise of 185.71% [2] Earnings Estimates - There has been a favorable change in earnings estimates for Quad/Graphics, with a positive Earnings ESP of +3.70%, indicating bullish sentiment among analysts regarding its near-term earnings potential [5][8] - The combination of a positive Earnings ESP and a Zacks Rank 3 (Hold) suggests a high likelihood of another earnings beat [5][8] Predictive Metrics - Stocks with a positive Earnings ESP and a Zacks Rank 3 or better have a nearly 70% chance of producing a positive surprise [6] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [7]

Core Insights - QuadMed has opened a new health center in West Bend, marking its fifth location in Wisconsin to support local employers and their employees [1][4] - The new facility aims to provide accessible and cost-effective health care solutions, enhancing the QuadMed Shared Health Center Network [2][3] Company Overview - QuadMed is a health care experience company that partners with employers to deliver whole-person care, focusing on improving health outcomes and reducing costs [6] - Founded in 1991, QuadMed has expanded its services across Wisconsin and beyond, maintaining a commitment to affordable health care [4][5] Services Offered - The West Bend Health Center provides a variety of services including primary care, occupational health, acute care, virtual care, lab, and pharmacy services [3] - The shared-site model allows employers to enhance employee health while controlling health care spending without the need for their own facilities [2] Commitment to Local Employers - QuadMed emphasizes its dedication to helping Wisconsin employers maximize their health care investments [5] - The company offers resources such as the QuadMed Shared Health Center Network Guidebook to assist employers in understanding available services and costs [5]

Core Insights - Quad/Graphics Inc. is enhancing its Audience Builder platform with natural language prompting capabilities powered by Snowflake's Cortex AI, allowing for faster and more efficient audience segmentation [1][2][3] Company Overview - Quad is a marketing experience company that integrates creative, production, and media solutions across online and offline channels, aiming to simplify marketing complexities for its clients [4] - The company employs approximately 11,000 people across 11 countries and serves around 2,100 clients, including major blue-chip companies in various industries [5][6] Technology and Innovation - The new natural language feature enables users to create sophisticated audience segments using simple conversational commands, eliminating the need for technical expertise [2][3] - Quad's Audience Builder utilizes a data stack that covers 92% of U.S. households and nearly 97% of the adult U.S. population, providing stable and resilient data sources for audience insights [3] Marketing Solutions - Quad's Audience Builder helps advertisers identify and engage with consumers more effectively, enhancing personalization and engagement across multiple marketing channels [3][4] - The platform allows for the creation of audience profiles that improve marketing mix measurement and incrementality, streamlining the audience targeting process [3]

Core Insights - Quad/Graphics, Inc. will release its third quarter and year-to-date 2025 financial results on October 28, 2025, after market close [1] - A conference call to discuss the results will be hosted by the CEO and CFO on October 29, 2025, at 8:30 a.m. ET [2] Company Overview - Quad is a marketing experience company that addresses complex marketing challenges for clients through its MX Solutions Suite, which integrates creative, production, and media solutions across various channels [4] - The company employs approximately 11,000 people across 11 countries and serves around 2,100 clients, focusing on sectors such as retail, consumer packaged goods, financial services, and health [5] - Quad is recognized as one of the largest agency companies in the U.S. and one of the largest commercial printers in North America [5]

Group 1 - U.S. stock futures are lower, with Dow futures dropping over 200 points [1] - Cal-Maine Foods Inc reported weaker-than-expected first-quarter results, with earnings of $4.12 per share, missing the consensus estimate of $5.35 per share [1] - Quarterly sales for Cal-Maine Foods were $922.602 million, also below the analyst consensus estimate of $960.313 million [1] Group 2 - Cal-Maine Foods shares fell 8.6% to $86.00 in pre-market trading [2] - Etoiles Capital Group Co Ltd shares tumbled 27.1% to $12.32 after a previous gain of 14% [4] - Enanta Pharmaceuticals Inc shares declined 12.1% to $10.50 following the announcement of an upsized public offering [4] - Fortress Biotech Inc shares fell 10.3% to $3.31 after a 5% decline on Tuesday [4] - Tilray Brands Inc shares decreased 7% to $1.61 after a 6% dip on Tuesday [4] - AAR Corp shares dipped 6.7% to $83.60 after announcing a public offering of 3,000,000 shares [4] - Cytokinetics, Inc. shares fell 5.3% to $52.04 in pre-market trading [4] - Quad/Graphics Inc shares declined 4% to $6.01 in pre-market trading [4]

Core Insights - QuadMed has partnered with Utz Brands to manage the Utz Health & Wellness Center, enhancing personalized health care services for over 4,300 eligible members [1][2][3] - The transition to QuadMed aims to improve health outcomes and deliver measurable value to employers by integrating primary care and occupational health [3][4] - QuadMed's model focuses on whole-person care, which is customized for each patient, reflecting a commitment to employee well-being and productivity [4][5] Company Overview - QuadMed is a health care experience company that provides direct access to whole-person care for employees and families, with over 30 years of experience in improving health and reducing costs [5] - Quad, the parent company of QuadMed, is a marketing experience company that offers a comprehensive range of marketing and print services, serving approximately 2,100 clients across various industries [6][7] - Utz Brands, Inc. manufactures a diverse portfolio of savory snacks and has a strong family heritage, distributing products nationally through multiple channels [9]

Core Viewpoint - Quad/Graphics, Inc. has expanded its financial resources by adding Flagstar Bank to its lending group, increasing its Term Loan A by $20 million to $371 million and revolving credit availability by $15 million to $340 million [1][2]. Group 1: Financial Developments - The addition of Flagstar Bank enhances Quad's financial flexibility and supports its capital allocation strategy [2]. - The total outstanding principal amount of Quad's Term Loan A is now $371 million, while its revolving credit availability has increased to $340 million [1]. Group 2: Company Overview - Quad is a marketing experience company that provides integrated marketing and print services, leveraging technology and data-driven intelligence to simplify marketing complexities [3]. - The company employs approximately 11,000 people across 11 countries and serves around 2,100 clients, including major blue-chip companies in various sectors such as retail, financial services, and health [4].