Quad/Graphics Files 10-Q for Q2 2024
Ticker: QUAD · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1481792
| Field | Detail |
|---|---|
| Company | Quad/Graphics, Inc. (QUAD) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.025 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Quad/Graphics filed its Q2 2024 10-Q. Financials are in.
AI Summary
Quad/Graphics, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the company's financial performance and operations. Specific financial figures and operational details for the second quarter and the first half of 2024 are detailed within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational status of Quad/Graphics, Inc., crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the inherent risks of the commercial printing industry and economic conditions can impact Quad/Graphics.
Key Players & Entities
- Quad/Graphics, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240731 (date) — Filing date
FAQ
What were Quad/Graphics' total revenues for the second quarter of 2024?
The filing does not explicitly state the total revenues for the second quarter of 2024 in the provided snippet. Further details within the full 10-Q would be required.
What is the company's fiscal year end?
The company's fiscal year ends on December 31st.
In which state was Quad/Graphics incorporated?
Quad/Graphics, Inc. was incorporated in Wisconsin (WI).
What is the Standard Industrial Classification (SIC) code for Quad/Graphics?
The SIC code for Quad/Graphics is 2750, which corresponds to Commercial Printing.
When was this 10-Q form filed?
This 10-Q form was filed on July 31, 2024.
Filing Stats: 4,851 words · 19 min read · ~16 pages · Grade level 6.7 · Accepted 2024-07-31 15:01:41
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-20240630.htm (10-Q) — 1868KB
- exhibit311-ceocertificatio.htm (EX-31.1) — 11KB
- exhibit312-cfocertificatio.htm (EX-31.2) — 11KB
- exhibit32-writtenstmtofceo.htm (EX-32) — 5KB
- quad-20240630_g1.jpg (GRAPHIC) — 32KB
- 0001481792-24-000030.txt ( ) — 8668KB
- quad-20240630.xsd (EX-101.SCH) — 48KB
- quad-20240630_cal.xml (EX-101.CAL) — 62KB
- quad-20240630_def.xml (EX-101.DEF) — 283KB
- quad-20240630_lab.xml (EX-101.LAB) — 622KB
- quad-20240630_pre.xml (EX-101.PRE) — 461KB
- quad-20240630_htm.xml (XML) — 1393KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 28 ITEM 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 55 ITEM 4.
Controls and Procedures
Controls and Procedures 57 PART II OTHER INFORMATION 58 ITEM 1A.
Risk Factors
Risk Factors 58 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 58 ITEM 5. Other Information 58 ITEM 6. Exhibits 59
Signatures
Signatures 60 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales Products $ 497.6 $ 559.9 $ 1,004.8 $ 1,167.8 Services 136.6 143.2 284.2 301.8 Total net sales 634.2 703.1 1,289.0 1,469.6 Cost of sales Products 408.1 476.6 834.6 992.7 Services 85.8 93.2 180.6 194.6 Total cost of sales 493.9 569.8 1,015.2 1,187.3 Operating expenses Selling, general and administrative expenses 88.7 83.3 171.8 172.5 Depreciation and amortization 26.4 32.0 55.0 65.7 Restructuring, impairment and transaction-related charges 10.1 9.6 42.6 35.6 Total operating expenses 619.1 694.7 1,284.6 1,461.1 Operating income 15.1 8.4 4.4 8.5 Interest expense 17.2 17.0 32.4 33.3 Net pension income ( 0.2 ) ( 0.4 ) ( 0.4 ) ( 0.8 ) Loss before income taxes ( 1.9 ) ( 8.2 ) ( 27.6 ) ( 24.0 ) Income tax expense (benefit) 0.9 ( 2.1 ) 3.3 6.7 Net loss $ ( 2.8 ) $ ( 6.1 ) $ ( 30.9 ) $ ( 30.7 ) Loss per share Basic and diluted $ ( 0.06 ) $ ( 0.12 ) $ ( 0.65 ) $ ( 0.62 ) Weighted average number of common shares outstanding Basic and diluted 47.7 49.3 47.4 49.2 See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited). 3 Table of Contents QUAD/GRAPHICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in millions) (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net loss $ ( 2.8 ) $ ( 6.1 ) $ ( 30.9 ) $ ( 30.7 ) Other comprehensive income (loss) Translation adjustments ( 7.1 ) 6.3 ( 7.5 ) 12.8 Interest rate derivatives adjustments ( 0.4 ) 1.5 0.7 2.3 Pension benefit plan adjustments 0.2 0.1 0.5 0.2 Other comprehensive income (loss), before tax ( 7.3 ) 7.9 ( 6.3 ) 15.3 Income tax impact related to items of other comprehensive income (loss) — ( 0.3 ) ( 0.3 ) ( 0.5 ) Other comprehe