NYSE$QUAD
Quad/Graphics Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Quad reported a decrease in net sales but an improvement in net earnings for the fourth quarter of 2024, driven by increased manufacturing productivity and cost reduction initiatives.
Quad reported fourth quarter 2024 net sales of $708.4 million, a decrease of 10.1% compared to the same period in 2023. Despite the sales decline, the company achieved net earnings of $4.7 million, an improvement from a net loss of $22.0 million in the prior year, primarily due to increased manufacturing productivity and cost reduction initiatives. Adjusted EBITDA for the quarter was $62.6 million.
- Net Sales decreased by 10.1% to $708.4 million in Q4 2024 compared to Q4 2023.
- Net Earnings improved to $4.7 million in Q4 2024 from a Net Loss of $22.0 million in Q4 2023.
- Adjusted EBITDA was $62.6 million in Q4 2024, with an Adjusted EBITDA Margin of 8.8%.
- Adjusted Diluted Earnings Per Share increased to $0.36 in Q4 2024 from $0.23 in Q4 2023.
Headline financials
Revenue & EPS history
Quad · Revenue · Quarterly
$708M
Revenue by segment
Quad · $700M total across 2 segments · Q3 2023
- United States Print and Related Services$608M-14.7%86.8%
- International$92.2M-21.1%13.2%
Forward guidance
Quad introduces 2025 guidance, expecting continued strong cash generation to further reduce Net Debt Leverage to approximately 1.5x, while anticipating a decline in organic annual net sales.
Tailwinds
- Expects to lower Net Debt Leverage to approximately 1.5x by year-end 2025.
- Anticipates strong cash generation to amplify strategic investments in innovation.
- Plans to accelerate offerings to drive future diversified revenue growth.
- Intends to increase return of capital to shareholders through a 50% higher quarterly dividend.
- Will pursue opportunistic share repurchases.
Headwinds
- Forecasts an Organic Annual Net Sales Change of 2% to 6% decline.
- Full-Year Adjusted EBITDA is projected to be between $180 million and $220 million, lower than 2024.
- Free Cash Flow is projected to be between $40 million and $60 million, lower than 2024.
- Capital Expenditures are projected to be between $65 million and $75 million, higher than 2024.
- The guidance excludes European operations to be divested, which could impact overall sales.
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 2024
+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