NYSE$QUAD
Quad/Graphics Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Net sales increased and adjusted EBITDA grew due to print segment share gains, increased pricing, and investments in labor, inventory, and equipment.
Quad/Graphics reported strong third-quarter results, with net sales up 18% year-over-year and adjusted diluted earnings per share increasing by 78%. The company raised its full-year net sales guidance range to 8%-10% growth, driven by strong execution and continued sales momentum.
- Net Sales increased 18% compared to the third quarter of 2021.
- Net Earnings were $14 million, consistent with the third quarter of 2021.
- Adjusted EBITDA increased to $69 million compared to $55 million in the third quarter of 2021, excluding a $13 million property insurance gain in 2021.
- Adjusted Diluted Earnings Per Share grew to $0.32 compared to $0.18 in the third quarter of 2021.
Headline financials
Revenue & EPS history
Quad · Revenue · Quarterly
$830M
Revenue by segment
Quad · $830M total across 2 segments · Q3 2022
- United States Print and Related Services$713M+14.2%85.9%
- International$117M+42.8%14.1%
Forward guidance
Quad increased its Net Sales outlook and narrowed its remaining full-year 2022 guidance.
Tailwinds
- Net Sales Change increased from 3% to 7% to 8% to 10%.
- Full-Year Adjusted EBITDA is expected to be between $235 to $255 million.
- Free Cash Flow is expected to be between $70 to $90 million.
- Year-End Debt Leverage Ratio is expected to be approximately 2.25x.
- Company is positioned to achieve higher year-over-year earnings in the fourth quarter.
Headwinds
- Ongoing challenges from inflationary costs.
- Ongoing supply chain disruptions.
- Adjusted EBITDA guidance was narrowed from $230-$270 million to $235-$255 million.
- Free Cash Flow guidance was narrowed from $70-$100 million to $70-$90 million.
- Macro-economic headwinds, such as cost inflation and supply chain constraints that impact productivity.
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 Q3 2022
+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
| Quarter | Report date | Reaction (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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