Quad Q1 2022 Earnings Report

Quad delivered fourth consecutive quarter of sales growth and continued strategic investments to accelerate growth as a marketing experience company.

Key Takeaways

Quad reported a 5% increase in net sales, or 9% excluding divestitures. The company reported a net loss of $1 million and adjusted EBITDA of $49 million. Strategic investments in talent, equipment, technology, products and services continued.

Increased Net Sales 5% in the first quarter of 2022, or 9% sales growth excluding divestitures, driven by increased pricing in response to inflationary cost pressures; print segment share gains from new clients; and Net Sales growth in Targeted Print and Agency Solutions.

Reported Net Loss of $1 million and Adjusted EBITDA of $49 million in the first quarter of 2022, compared to Net Earnings of $10 million and Adjusted EBITDA of $70 million in the first quarter of 2021.

Implemented additional price increase, effective May 15, 2022, to help offset inflationary cost pressures.

Maintained significant liquidity including $138 million of cash on hand and up to $397 million in unused capacity under Quad’s revolving credit agreement as of March 31, 2022.