Quad/Graphics: Dives as sales fall on pricing, volume pressure

Quad/Graphics

04/11/2020 18:41

** Commercial printing services company's shares  QUAD.N 
down 9.5% at $2.19; set to break a three-day winning streak 
    ** Says Q3 net sales declined 26%, primarily due to the
economic impact from the COVID-19 pandemic, and ongoing print
industry volume and pricing pressures
    ** Client volumes remain significantly below last year – a
trend co anticipates will continue through year end, says CEO
Joel Quadracci  urn:newsml:reuters.com:*:nBw5ZNh2Za
    ** However, adj. EBITDA margin increased by 49 basis points
in the quarter, driven by cost-savings initiatives
    ** Stock down 52.7% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))