Quad/Graphics, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Quad/Graphics, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

Quad/Graphics, Inc. (QUAD) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Quad/Graphics, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at N61 W23044 HARRY'S WAY, SUSSEX, WI 53089-3995. The filing was made as of May 1, 2024. The Standard Industrial Classification code for the company is COMMERCIAL PRINTING [2750].

Why It Matters

For investors and stakeholders tracking Quad/Graphics, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data for Quad/Graphics, Inc., crucial for assessing the company's performance and outlook in the commercial printing industry. Understanding the details within this report is essential for making informed investment decisions regarding Quad/Graphics, Inc. stock.

Risk Assessment

Risk Level: — Quad/Graphics, Inc. shows moderate risk based on this filing. The company operates in the commercial printing industry, which is subject to evolving market demands and technological shifts, potentially impacting revenue and profitability.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Quad/Graphics' current financial health and strategic direction.

Key Numbers

• 2024-03-31 — Period End Date (Reporting period)
• 2024-05-01 — Filing Date (Date of submission)

Key Players & Entities

• Quad/Graphics, Inc. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-01 (date) — Filed as of date
• N61 W23044 HARRY'S WAY, SUSSEX, WI 53089-3995 (address) — Business address
• 414-566-6000 (phone) — Business phone
• COMMERCIAL PRINTING [2750] (industry) — Standard Industrial Classification

FAQ

Industry Context

Quad/Graphics operates within the commercial printing industry, which is characterized by its role in producing marketing materials, publications, and packaging for various businesses.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024 compared to prior periods.
2. Examine any disclosed debt levels and cash positions.
3. Review management's discussion and analysis for insights into operational performance and future outlook.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for March 31, 2024, providing the latest financial data since the previous reporting period.

Key Financial Figures

• $0.025 — tered Class A Common Stock, par value $0.025 per share QUAD The New York Stock Excha

Filing Documents

• quad-20240331.htm (10-Q) — 1353KB
• exhibit311-ceocertificatio.htm (EX-31.1) — 11KB
• exhibit312-cfocertificatio.htm (EX-31.2) — 11KB
• exhibit32-writtenstmtofceo.htm (EX-32) — 5KB
• quad-20240331_g1.jpg (GRAPHIC) — 32KB
• 0001481792-24-000021.txt (&nbsp;) — 7246KB
• quad-20240331.xsd (EX-101.SCH) — 47KB
• quad-20240331_cal.xml (EX-101.CAL) — 61KB
• quad-20240331_def.xml (EX-101.DEF) — 280KB
• quad-20240331_lab.xml (EX-101.LAB) — 595KB
• quad-20240331_pre.xml (EX-101.PRE) — 446KB
• quad-20240331_htm.xml (XML) — 1004KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 ITEM 4.

Controls and Procedures

Controls and Procedures 46 PART II OTHER INFORMATION 47 ITEM 1A.

Risk Factors

Risk Factors 47 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 ITEM 5. Other Information 47 ITEM 6. Exhibits 48

Signatures

Signatures 49 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

ITEM 1. Condensed Consolidated Financial Statements (Unaudited) QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except per share data) (UNAUDITED) Three Months Ended March 31, 2024 2023 Net sales Products $ 507.2 $ 607.9 Services 147.6 158.6 Total net sales 654.8 766.5 Cost of sales Products 426.5 516.1 Services 94.8 101.4 Total cost of sales 521.3 617.5 Operating expenses Selling, general and administrative expenses 83.1 89.2 Depreciation and amortization 28.6 33.7 Restructuring, impairment and transaction-related charges 32.5 26.0 Total operating expenses 665.5 766.4 Operating income (loss) ( 10.7 ) 0.1 Interest expense 15.2 16.3 Net pension income ( 0.2 ) ( 0.4 ) Loss before income taxes ( 25.7 ) ( 15.8 ) Income tax expense 2.4 8.8 Net loss $ ( 28.1 ) $ ( 24.6 ) Loss per share Basic and diluted $ ( 0.60 ) $ ( 0.50 ) Weighted average number of common shares outstanding Basic and diluted 47.2 49.2 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 3 Table of Contents QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (in millions) (UNAUDITED) Three Months Ended March 31, 2024 2023 Net loss $ ( 28.1 ) $ ( 24.6 ) Other comprehensive income Translation adjustments ( 0.4 ) 6.5 Interest rate derivatives adjustments 1.1 0.8 Pension benefit plan adjustments 0.3 0.1 Other comprehensive income, before tax 1.0 7.4 Income tax impact related to items of other comprehensive income ( 0.3 ) ( 0.2 ) Other comprehensive income, net of tax 0.7 7.2 Comprehensive loss $ ( 27.4 ) $ ( 17.4 ) See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 4 Table of Contents QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions) (UNAUDITED) March 31, 2024 December 31, 2023 ASSETS Cash and cash equivalents $ 10.2 $ 52.9 Receivables, less allowances for credit losses of $ 25.5 million at M

View Full Filing

View this 10-Q filing on SEC EDGAR