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Mar 31, 2021
Quad Q1 2021 Earnings Report
Achieved third consecutive quarter of improvement in net sales trend and drove increases in margin and free cash flow.
Key Takeaways
Quad/Graphics reported first quarter 2021 results, which included a third straight quarter of improvement in net sales decline rate, increased adjusted EBITDA margin, and higher cash flows. New business wins in agency solutions and print also contributed to the positive trends.
Achieved third consecutive quarter of improvement in net sales decline rate since the height of the pandemic.
Achieved margin expansion and new business wins in agency solutions and print, while continuing to align costs to demand environment.
Increased cash from operating activities to $73 million and Free Cash Flow to $56 million, up from $45 million and $16 million in 2020, respectively.
Reduced Net Debt by $61 million during the first quarter and improved the Debt Leverage Ratio to 3.24x at March 31, 2021.
Revenue by Segment
Forward Guidance
Quad expects to further improve Debt Leverage Ratio to be at or near 3.0x by the end of 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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