Quad Q1 2024 Earnings Report

Quad reported first quarter results and reaffirmed full-year 2024 financial guidance.

Key Takeaways

Quad's first quarter results were in line with expectations. The company reported net sales of $655 million and a net loss of $28 million, or $0.60 diluted loss per share. Adjusted diluted earnings per share was $0.10. The company reaffirms its full-year 2024 financial guidance, including 1.8x Net Debt Leverage by year end.

Net Sales of $655 million in the first quarter of 2024 compared to $767 million in 2023, and recognized a Net Loss of $28 million or $0.60 Diluted Loss Per Share for the first quarter of 2024.

Achieved Non-GAAP Adjusted EBITDA of $51 million in the first quarter of 2024 compared to $60 million in the first quarter of 2023, and reported $0.10 Adjusted Diluted Earnings Per Share for the first quarter of 2024.

Completed restructuring actions that are expected to generate $60 million of cost savings in 2024.

Fitch corporate credit rating outlook revised to “Positive” from “Stable,” indicating future potential upgrade from current ‘B+’ rating in recognition of Quad’s strong financial and operational performance.