Quad Q4 net sales fall 11% on lower paper and print volumes

Quad/Graphics

17/02/2026 21:40

Overview

Marketing experience firm's Q4 net sales declined 11%, impacted by lower paper and print volumes

Net earnings improved to $11 mln in Q4, aided by lower expenses and higher productivity

Company increased quarterly dividend by 33% to $0.10 per share

Outlook

Quad projects 2026 adjusted annual net sales decline of 1% to 5%

Company expects 2026 adjusted EBITDA between $175 mln and $215 mln

Quad anticipates 2026 free cash flow of $40 mln to $60 mln

Result Drivers

REVENUE MIX SHIFT - Quad is shifting its revenue mix towards higher-value offerings like direct mail and integrated marketing services, driving larger engagements with brands

EXPENSE REDUCTION - Lower restructuring and administrative expenses contributed to improved net earnings

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Miss
$631 mln
$638.25 mln (2 Analysts)
Q4 Adjusted EPS
Meet
$0.36
$0.36 (2 Analysts)
Q4 Net Income
$11 mln
Q4 Adjusted EBITDA
$55 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial printing services peer group is "buy."

Wall Street's median 12-month price target for Quad/Graphics Inc is $8.20, about 25.4% above its February 13 closing price of $6.54

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 5 three months ago

Press Release: ID:nPnpcjlba

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)