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Dec 31, 2024
Quad Q4 2024 Earnings Report
Quad reported a decrease in net sales but an improvement in net earnings for the fourth quarter of 2024, driven by increased manufacturing productivity and cost reduction initiatives.
Key Takeaways
Quad reported fourth quarter 2024 net sales of $708.4 million, a decrease of 10.1% compared to the same period in 2023. Despite the sales decline, the company achieved net earnings of $4.7 million, an improvement from a net loss of $22.0 million in the prior year, primarily due to increased manufacturing productivity and cost reduction initiatives. Adjusted EBITDA for the quarter was $62.6 million.
Net Sales decreased by 10.1% to $708.4 million in Q4 2024 compared to Q4 2023.
Net Earnings improved to $4.7 million in Q4 2024 from a Net Loss of $22.0 million in Q4 2023.
Adjusted EBITDA was $62.6 million in Q4 2024, with an Adjusted EBITDA Margin of 8.8%.
Adjusted Diluted Earnings Per Share increased to $0.36 in Q4 2024 from $0.23 in Q4 2023.
Revenue by Segment
Forward Guidance
Quad introduces 2025 guidance, expecting continued strong cash generation to further reduce Net Debt Leverage to approximately 1.5x, while anticipating a decline in organic annual net sales.
Positive Outlook
- Expects to lower Net Debt Leverage to approximately 1.5x by year-end 2025.
- Anticipates strong cash generation to amplify strategic investments in innovation.
- Plans to accelerate offerings to drive future diversified revenue growth.
- Intends to increase return of capital to shareholders through a 50% higher quarterly dividend.
- Will pursue opportunistic share repurchases.
Challenges Ahead
- Forecasts an Organic Annual Net Sales Change of 2% to 6% decline.
- Full-Year Adjusted EBITDA is projected to be between $180 million and $220 million, lower than 2024.
- Free Cash Flow is projected to be between $40 million and $60 million, lower than 2024.
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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