Quad/Graphics (QUAD) Misses Q3 EPS by 2c, Revenues In-Line; FY17 Revenue Slightly Guidance Below Consensus

Quad/Graphics (NYSE: QUAD) reported Q3 EPS of $0.38, $0.02 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.01 billion.

GUIDANCE:

Quad/Graphics sees FY2017 revenue of $4.1 billion, versus the consensus of $4.12 billion.

Financial Highlights

• Increased third quarter 2017 net earnings by $9 million to $20 million and diluted earnings per share by $0.16 to $0.38 on net sales of $1.0 billion.
• Achieved third quarter 2017 Non-GAAP Adjusted EBITDA margin of 11.5%, flat to prior year’s quarter, on Non-GAAP Adjusted EBITDA of $116 million.
• Achieved year-to-date cash flow from operations of $180 million and generated $118 million of Non-GAAP Free Cash Flow, both in-line with Company’s guidance.
• Reduced debt and capital leases by $77 million, or 7%, through the first nine months of 2017 and improved Debt Leverage Ratio to 2.22x.
• Narrows full-year 2017 guidance for net sales to be approximately $4.1 billion, Adjusted EBITDA of $450 million to $470 million, and Free Cash Flow of $240 million to $260 million.
• Declares quarterly dividend of $0.30 per share.

For earnings history and earnings-related data on Quad/Graphics (QUAD) click here.

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