NYSE$QUAD
Quad/Graphics Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Quad's Q4 2021 results reflected a 1% increase in net sales, driven by growth in print and agency solutions, despite cost inflation and supply chain disruptions, with a net loss of $21 million.
Quad reported a 1% increase in net sales to $855 million for Q4 2021. The increase in net sales was due to a 4% increase in year-over-year print Net Sales and a 4% increase in year-over-year Agency Solutions Net Sales. Net loss from continuing operations was $21 million, an improvement of $65 million compared to the fourth quarter of 2020. Adjusted EBITDA was $56 million, compared to $64 million in the same period in 2020.
- Net Sales increased 1% (5% excluding divestiture of QuadExpress) driven by growth in print and agency solutions.
- Net Loss From Continuing Operations improved by $65 million compared to Q4 2020.
- Adjusted EBITDA decreased to $56 million due to cost inflation and supply chain disruptions.
- Company reduced Net Debt by 40% over the past two years, reaching Debt Leverage of 2.5x.
Headline financials
Revenue & EPS history
Quad · Revenue · Quarterly
$855M
Revenue by segment
Quad · $855M total across 2 segments · Q4 2021
- United States Print and Related Services$759M+0.2%88.8%
- International$95.8M+11.4%11.2%
Forward guidance
The Company provides 2022 financial guidance: annual net sales change of 3-7% increase, full-year adjusted EBITDA of $230 to $270 million, free cash flow of $70 to $100 million, capital expenditures of $55 to $65 million, and year-end debt leverage ratio of approximately 2.25x.
Tailwinds
- Annual Net Sales Change excludes the Net Sales impact from the divestiture of QuadExpress, which was sold on June 30, 2021.
- Expect an additional 5% sales growth in 2022.
- Continue to be a strong Free Cash Flow generator.
- Used cash along with proceeds from asset sales to return to our long-term targeted leverage range of 2.0x to 2.5x.
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 Q4 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
| 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro