Quad/Graphics(QUAD) - 2018 Q4 - Earnings Call Presentation

Financial Performance - Net sales for the full year 2018 were $4.1937 billion, compared to $4.1314 billion in 2017[18] - Adjusted EBITDA for the full year 2018 was $414.6 million, with an Adjusted EBITDA Margin of 9.9%, compared to $448.2 million and 10.8% respectively in 2017[18] - Free cash flow for the full year 2018 was $164.3 million, compared to $258.1 million in 2017[18] - The company's debt leverage ratio as of December 31, 2018, was 2.25x[20] Strategic Initiatives - The company is pursuing a Quad 3.0 transformation, focusing on integrated marketing solutions[11] - A pending acquisition of LSC Communications is expected to generate $135 million in net synergies in less than two years[11] - Pro forma net sales for 2018 were $4.3 billion, with Integrated Services accounting for 19%, Targeted Execution for 40%, and Large Scale Execution for 30%[16] 2019 Guidance - The company anticipates net sales between $4.05 billion and $4.25 billion in 2019[26] - Adjusted EBITDA is projected to be between $360 million and $400 million in 2019[26] - Free cash flow before LSC-related payments is expected to be between $145 million and $185 million in 2019[26] Shareholder Returns - The company declared a dividend of $0.30 per share[30] - The dividend yield as of February 19, 2019, was 8%[31]