Earnings summaries and quarterly performance for Quad/Graphics.
Executive leadership at Quad/Graphics.
Joel Quadracci
Detailed
Chairman, President and Chief Executive Officer
CEO
AS
Anthony Staniak
Detailed
Chief Financial Officer
DG
Dana Gruen
Detailed
General Counsel, Corporate Secretary and Chief Risk & Compliance Officer
DH
David Honan
Detailed
Executive Vice President and Chief Operating Officer
EA
Eric Ashworth
Detailed
Executive Vice President of Product and Market Strategy; President, Quad Agency Solutions
KV
Kelly Vanderboom
Detailed
Executive Vice President and Treasurer; Head of Agency Operations
RQ
Robert Quadracci
Detailed
Chief Human Resources Officer
Board of directors at Quad/Graphics.
Research analysts who have asked questions during Quad/Graphics earnings calls.
Recent press releases and 8-K filings for QUAD.
Quad/Graphics Reports Q4 and Full-Year 2025 Results and Provides 2026 Guidance
QUAD
Earnings
Guidance Update
Dividends
- Quad/Graphics reported Full-Year 2025 Adjusted Net Sales of $2,419.9 million, Adjusted EBITDA of $196.2 million, and Adjusted Diluted Earnings Per Share of $1.01.
- The company increased its quarterly dividend by 33% to $0.10 per share, or $0.40 on an annualized basis.
- Quad/Graphics reduced Net Debt by $42 million in 2025, achieving a year-end Net Debt Leverage Ratio of 1.57x.
- For 2026, the company introduced guidance including an Adjusted Annual Net Sales change of 1% to 5% decline, Full-Year Adjusted EBITDA of $175 million to $215 million, and Free Cash Flow of $40 million to $60 million.
Feb 18, 2026, 1:30 PM
Quad/Graphics Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance, and Increases Dividend
QUAD
Earnings
Guidance Update
Dividends
- Quad/Graphics reported $2.4 billion in net sales for full-year 2025, a 4.8% decline excluding the European divestiture, and $196 million in Adjusted EBITDA, a decrease from $224 million in 2024. Adjusted diluted EPS increased by 19% to $1.01 in 2025.
- For 2026, the company expects net sales to decline 1%-5%, Adjusted EBITDA to be between $175 million and $215 million, and free cash flow between $40 million and $60 million. Capital expenditures are projected to increase to $55 million-$65 million.
- Quad/Graphics increased its quarterly dividend by 33% to $0.10 per share (or $0.40 annualized) and repurchased 1.5 million shares for $8 million in 2025. The company also reduced net debt by $42 million in 2025, achieving a net debt leverage ratio of 1.57x.
- The company made progress on its revenue diversification strategy, with targeted print categories like packaging, in-store marketing, and direct mail showing net sales growth, and anticipates returning to net sales growth by 2028.
Feb 18, 2026, 1:30 PM
Quad/Graphics Announces Q4 and Full-Year 2025 Results and Provides 2026 Guidance
QUAD
Earnings
Guidance Update
Dividends
- Quad/Graphics reported full-year 2025 net sales of $2.4 billion, a 4.8% decline excluding European divestiture, with Adjusted EBITDA of $196 million and Adjusted diluted EPS increasing 19% to $1.01.
- For 2026, the company expects net sales to decline 1%-5% (midpoint 3% decline) compared to 2025, with Adjusted EBITDA projected between $175 million and $215 million (midpoint $195 million) and Free Cash Flow between $40 million and $60 million (midpoint $50 million).
- The company increased its quarterly dividend by 33% to $0.10 per share (annualized $0.40) and reduced net debt by $42 million in 2025, achieving a net debt leverage ratio of 1.57x.
- Quad/Graphics made progress in revenue diversification, with net sales growth in targeted print categories such as packaging, in-store marketing, and direct mail, and anticipates returning to net sales growth by 2028.
Feb 18, 2026, 1:30 PM
Quad/Graphics Reports Q4 and Full-Year 2025 Results, Provides 2026 Guidance
QUAD
Earnings
Guidance Update
Dividends
- Quad/Graphics achieved its full-year 2025 financial guidance, reporting net sales of $2.4 billion and Adjusted EBITDA of $196 million, with adjusted diluted earnings per share increasing 19% to $1.01.
- The company announced a 33% increase in its quarterly dividend to $0.10 per share (or $0.40 annualized) and repurchased $8 million of shares in 2025, while reducing net debt by $42 million.
- For 2026, net sales are projected to decline 1%-5%, with Adjusted EBITDA expected between $175 million and $215 million, and Free Cash Flow between $40 million and $60 million. The company anticipates returning to net sales growth by 2028.
- Strategic focus areas include advancing revenue diversification in targeted print categories and agency services, investing in AI, and expanding postal optimization.
Feb 18, 2026, 1:30 PM
Quad Reports Q4 and Full-Year 2025 Results, Increases Dividend, and Issues 2026 Guidance
QUAD
Earnings
Guidance Update
Dividends
- For the full year 2025, Quad reported Net Sales of $2.4 billion, representing a 4.8% decline when excluding the divestiture of European operations, and achieved Net Earnings of $27 million ($0.54 Diluted Earnings Per Share), a significant improvement from a Net Loss of $51 million ($1.07 Diluted Loss Per Share) in 2024. Adjusted Diluted Earnings Per Share increased by 19% to $1.01.
- The company successfully reduced Net Debt by $42 million to $308 million by December 31, 2025, resulting in a Net Debt Leverage of 1.57x, which is near the low end of its targeted long-term range.
- Quad increased its quarterly dividend by 33% to $0.10 per share, payable March 13, 2026, and introduced 2026 financial guidance, projecting an Adjusted Annual Net Sales decline of 1% to 5%, Full-Year Adjusted EBITDA between $175 million and $215 million, and Free Cash Flow of $40 million to $60 million.
Feb 17, 2026, 9:30 PM
Quad/Graphics Reports Q4 and Full-Year 2025 Results, Issues 2026 Guidance
QUAD
Earnings
Guidance Update
Dividends
- Quad/Graphics reported Net Sales of $2.4 billion for fiscal year 2025, representing a 9.4% decline from $2.7 billion in 2024, or a 4.8% decline when excluding the divestiture of European operations.
- The company improved Net Earnings to $27 million (or $0.54 Diluted Earnings Per Share) in 2025, compared to a Net Loss of $51 million (or $1.07 Diluted Loss Per Share) in 2024, and Adjusted Diluted Earnings Per Share increased 19% to $1.01.
- Quad/Graphics delivered $51 million of Free Cash Flow in 2025 and reduced Net Debt by $42 million to $308 million, achieving a Net Debt Leverage of 1.57x at December 31, 2025.
- The company increased its quarterly dividend by 33% to $0.10 per share, payable March 13, 2026, and provided $22 million of shareholder returns in 2025 through cash dividends and share repurchases.
- For 2026, Quad/Graphics introduced guidance including an Adjusted Annual Net Sales Change of 1% to 5% decline, Full-Year Adjusted EBITDA of $175 million to $215 million, and Free Cash Flow of $40 million to $60 million.
Feb 17, 2026, 9:30 PM
Quad/Graphics Increases Quarterly Dividend by 33%
QUAD
Dividends
Share Buyback
- Quad/Graphics, Inc. (NYSE: QUAD) announced a 33% increase in its quarterly dividend.
- The quarterly dividend will rise from $0.075 per share to $0.10 per share, equating to $0.40 per share on an annualized basis.
- The increased dividend is payable on March 13, 2026, to shareholders of record as of February 27, 2026.
- The company's CEO cited confidence in cash flow generation and disciplined capital allocation, also noting plans to remain opportunistic with future share repurchases.
Feb 13, 2026, 1:30 PM
Quad/Graphics Details Strategic Transformation and 2028 Growth Projections
QUAD
Revenue Acceleration/Inflection
New Projects/Investments
Dividends
- Quad/Graphics is transforming from a core commercial printer to a marketing experience (MX) company, with a projected revenue growth inflection point in 2028 after a 4% revenue decline in 2024 (excluding divestitures). This strategic shift focuses on higher-margin integrated solutions and targeted print offerings.
- The company leverages its unique MX Intelligence data stack, which has touched 92% of U.S. households for over five decades, to drive effective marketing campaign targeting. A new initiative, In-Store Connect by Quad, is building a retail media network that has shown early success with significant sales lifts for consumer packaged goods (CPGs).
- Financially, Quad has generated almost $800 million in cash through 2024 and substantially reduced its debt from over $1 billion to a projected $312 million by year-end, achieving a 1.6 times leverage ratio. The company has also resumed and increased its dividend to $0.075 per quarter per share, offering over a 5% yield.
- Long-term financial goals for 2028 include an adjusted EBITDA margin of 9.4% (up from approximately 8%) and a free cash flow conversion rate of 35% (up from 28%). Management believes that achieving revenue growth in 2028 will help unlock a higher valuation multiple, as the market currently values it as a traditional printer (3-4x EBITDA) rather than an MX company (7-8x EBITDA for agencies).
Nov 19, 2025, 9:20 PM
Quad/Graphics Outlines Transformation and 2028 Financial Goals
QUAD
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Quad/Graphics (QUAD) has transformed into a marketing experience (MX) company, generating $2.7 billion in revenue last year, by integrating digital and creative capabilities with its core print business.
- The company leverages a unique data stack from touching 92% of U.S. households to create highly targeted marketing campaigns, which has driven client ROI and secured new business, such as a multi-year contract with Spirit of Gallo.
- QUAD has significantly reduced its debt from over $1 billion to $350 million (1.6x leverage) by the end of last year, with a projected $312 million by the end of this year, and has resumed a dividend of $0.075 per quarter per share.
- By 2028, QUAD targets a net sales inflection point (revenue growth), an adjusted EBITDA margin of 9.4%, and free cash flow conversion of 35%, aiming to unlock a higher valuation from its current 3-4x EBITDA multiple.
Nov 19, 2025, 9:20 PM
Quad/Graphics Outlines Transformation to Marketing Experience Company and Financial Goals
QUAD
Revenue Acceleration/Inflection
Guidance Update
Dividends
- Quad/Graphics (QUAD) is transforming from a commercial printer into a marketing experience (MX) company, reporting $2.7 billion in revenue in 2024. This strategy leverages its proprietary MX: Intelligence data stack, which utilizes over 50 years of direct mail data to target 92% of U.S. households for marketing campaigns.
- The company is investing in growth initiatives, including the In-Store Connect by Quad platform, a retail media network that has demonstrated significant sales lifts, such as 23% for DiGiorno Pizza and 25% for Rockstar Beverage in control studies.
- Financially, Quad generated almost $800 million in cash from 2020 through 2024 and reduced its debt by 66% from over $1 billion to $350 million by the end of 2024, achieving a leverage of 1.6x. The company also resumed its dividend in 2024, raising it to $0.075 per quarter per share in early 2025, representing over a 5% yield.
- Quad projects a shift to revenue growth by 2028, driven by a transition from declining large-scale print to higher-margin integrated solutions and targeted print. The company targets an adjusted EBITDA margin of 9.4% and free cash flow conversion of 35% by 2028.
Nov 19, 2025, 9:20 PM
Quarterly earnings call transcripts for Quad/Graphics.
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