Quad/Graphics Inc
NYSE:QUAD
Quad/Graphics Inc
Quad/Graphics, Inc. engages in the provision of print solutions, media solutions, and logistics services. The company is headquartered in Sussex, Wisconsin and currently employs 15,100 full-time employees. The company went IPO on 2010-07-06. The company has three segments. The United States Print and Related Services segment is comprised of its United States printing operations and integrated platform. This includes retail inserts, publications, catalogues, special interest publications, journals, direct mail, directories, in-store marketing and promotion, packaging, newspapers, custom print products and other. International segment consists of its printing operations in Europe and Latin America, including operations in England, France, Germany, Poland, Argentina, Colombia, Mexico and Peru, as well as investments in printing operations in Brazil and India. This segment provides printed products and marketing, and other. Corporate segment consists of general and administrative activities and associated expenses, including, in part, executive, legal and finance, as well as certain expenses and income from frozen employee retirement plans, such as pension benefit plans.
Quad/Graphics, Inc. engages in the provision of print solutions, media solutions, and logistics services. The company is headquartered in Sussex, Wisconsin and currently employs 15,100 full-time employees. The company went IPO on 2010-07-06. The company has three segments. The United States Print and Related Services segment is comprised of its United States printing operations and integrated platform. This includes retail inserts, publications, catalogues, special interest publications, journals, direct mail, directories, in-store marketing and promotion, packaging, newspapers, custom print products and other. International segment consists of its printing operations in Europe and Latin America, including operations in England, France, Germany, Poland, Argentina, Colombia, Mexico and Peru, as well as investments in printing operations in Brazil and India. This segment provides printed products and marketing, and other. Corporate segment consists of general and administrative activities and associated expenses, including, in part, executive, legal and finance, as well as certain expenses and income from frozen employee retirement plans, such as pension benefit plans.
Guidance Met: Quad achieved its full year 2025 financial guidance despite a planned reduction in sales, highlighting operational discipline.
Revenue Decline: 2025 net sales were $2.4 billion, down 4.8% year-over-year, mainly due to reduced paper sales, print volumes, and the loss of a large client.
Profitability: Adjusted EBITDA for 2025 was $196 million, nearly flat compared to 2024, and adjusted EPS rose 19% to $1.01, benefiting from share buybacks.
Dividend Increase: Quad raised its quarterly dividend by 33% to $0.10 per share, reflecting strong cash flow and shareholder focus.
Targeted Growth Areas: Direct mail and targeted print categories outperformed expectations, and agency businesses Betty and Rise expanded with notable client wins.
2026 Outlook: Management expects a 1% to 5% sales decline for 2026 (excluding divested Europe), with stable adjusted EBITDA and higher CapEx for growth.
Balance Sheet: Net debt was reduced by $42 million in 2025, and leverage remains at the low end of the target range.
Strategic Moves: Quad continues to invest in AI, streamline its organization, and close underutilized facilities, while maintaining a balanced approach to capital allocation.
