Quad/Graphics(QUAD) - 2015 Q4 - Earnings Call Presentation

Financial Performance - 2015 - Full year net sales were $4.678 billion, compared to $4.862 billion in 2014[11] - Full year Adjusted EBITDA was $462 million, with an Adjusted EBITDA Margin of 9.9%, compared to $543 million and 11.2% respectively in 2014[11] - The company recorded a non-cash goodwill impairment charge of $808 million during 2015[11] - Free cash flow for the year was $215 million[4] Debt and Leverage - The debt leverage ratio was 2.92x as of December 31, 2015[4] - Total debt and capital lease obligations were $1.349 billion as of December 31, 2015[18] - The company aims to operate in a 20x to 2.5x leverage range long-term[19] 2016 Guidance - Net sales are projected to be between $4.4 billion and $4.6 billion[24] - Adjusted EBITDA is expected to be between $420 million and $460 million[24] - Free cash flow is projected to be between $190 million and $230 million[24] Shareholder Returns - The company declared a dividend of $0.30 per share[28] - The dividend yield is 11% based on the closing stock price on February 19, 2016[27]