NYSE$QUAD

Quad/Graphics Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Achieved third consecutive quarter of improvement in net sales trend and drove increases in margin and free cash flow.

Quad/Graphics reported first quarter 2021 results, which included a third straight quarter of improvement in net sales decline rate, increased adjusted EBITDA margin, and higher cash flows. New business wins in agency solutions and print also contributed to the positive trends.

  • Achieved third consecutive quarter of improvement in net sales decline rate since the height of the pandemic.
  • Achieved margin expansion and new business wins in agency solutions and print, while continuing to align costs to demand environment.
  • Increased cash from operating activities to $73 million and Free Cash Flow to $56 million, up from $45 million and $16 million in 2020, respectively.
  • Reduced Net Debt by $61 million during the first quarter and improved the Debt Leverage Ratio to 3.24x at March 31, 2021.

Headline financials

Total Revenue

$706M

Previous: $823M-14.2%
EPS (adj)

$0.19

Previous: $0.18+5.6%
Adjusted EBITDA Margin

9.3%

Previous: 9.2%+1.1%
Capital Expenditures

-$16.9M

Previous: -$29M+41.7%
Free Cash Flow

-$6.7M

Previous: -$41.4M+83.8%
Net Income

$10.2M

Previous: -$12.4M+182.3%
Operating Income

$21M

Previous: $5M+320.0%
Gross Profit

$146M

Previous: $175M-16.5%
Cash & Equivalents

$80.6M

Previous: $208M-61.2%
Total Assets

$1.84B

Previous: $2.37B-22.4%
Stock-Based Comp

$3M

Previous: $2.8M+7.1%

Revenue & EPS history

Quad · Revenue · Quarterly

$706M

Q1 2021-14.2%vs Q1 2020
Beat estimate in 3 of 13 quarters(23%)
ActualEstimate

Revenue by segment

Quad · $706M total across 2 segments · Q1 2021

  • United States Print and Related Services
    $635M-13.8%
  • International
    $71.2M-17.1%

Forward guidance

Quad expects to further improve Debt Leverage Ratio to be at or near 3.0x by the end of 2021.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.3%

Avg return

Earnings day

-0.0%

Avg return

5 days after

-3.0%

Avg return

30 days after

52%

33 / 64 earnings

Positive

+33.9%

Q4 2017

Best reaction

-55.3%

Q3 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-10.7%+1.8%-4.9%
Q4 2025+0.9%+6.7%-0.6%
Q3 2025-12.3%-10.7%-5.4%
Q1 2025-7.9%+6.0%+12.5%
Q4 2024+10.8%-11.8%-21.7%
Q3 2024+14.9%+24.5%+41.7%
Q2 2024-19.3%-26.0%-17.7%
Q1 2024-1.5%+4.6%+0.0%
Q4 2023-9.5%-17.8%-18.6%
Q3 2023-14.1%-9.5%-7.2%
Q2 2023-12.5%-4.6%-13.7%
Q1 2023-10.0%-17.3%-1.8%
Q4 2022+7.0%+21.4%-2.8%
Q3 2022+14.0%+18.0%+34.5%
Q2 2022+8.1%+9.4%+1.6%
Q1 2022-24.6%-25.2%-35.2%
Q4 2021+2.0%+9.8%+33.4%
Q3 2021+14.5%+8.1%-7.4%
Q2 2021+10.6%+37.9%+19.5%
Q1 2021-3.2%-13.7%-0.8%
Q4 2020-2.3%-16.7%-25.5%
Q3 2020-4.3%-6.1%+45.5%
Q2 2020+6.4%+4.5%+3.0%
Q1 2020-0.6%+9.4%+12.0%
Q4 2019+20.5%+14.7%-26.4%
Q3 2019-55.3%-57.3%-58.7%
Q2 2019+33.5%+34.5%+7.4%
Q1 2019-10.0%-9.0%-29.8%
Q4 2018+11.8%+8.3%-20.0%
Q3 2018-7.0%-11.9%-10.2%
Q2 2018+22.9%+8.5%+13.1%
Q1 2018-15.3%-25.5%-20.0%
Q4 2017+33.9%+25.6%+15.5%
Q3 2017+2.0%+4.5%+2.4%
Q2 2017-10.7%-14.2%-15.1%
Q1 2017+5.0%-1.6%-15.2%
Q4 2016-4.2%+4.0%-9.3%
Q3 2016+0.6%+1.8%+2.7%
Q2 2016+12.8%+14.0%+6.8%
Q1 2016+24.5%
Q4 2015+3.9%
Q3 2015-25.6%
Q2 2015-5.7%
Q1 2015-1.5%
Q4 2014+3.9%
Q3 2014-1.0%
Q2 2014-1.2%
Q1 2014-2.1%
Q4 2013-5.4%
Q3 2013-19.3%
Q2 2013+4.2%
Q1 2013+5.5%
Q4 2012+4.3%
Q3 2012-12.3%
Q2 2012-4.9%
Q1 2011+5.0%
Q1 2012+5.6%
Q4 2009+10.1%
Q4 2011+10.1%
Q3 2011+1.4%
Q2 2011+11.0%
Q4 2010+11.0%
Q3 2010-1.6%
Q2 2010+1.9%
Q1 2010

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