The chart below shows how QUAD performed 10 days before and after its earnings report, based on data from the past quarters. Typically, QUAD sees a -1.01% change in stock price 10 days leading up to the earnings, and a +0.71% change 10 days following the report. On the earnings day itself, the stock moves by -1.56%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Net Sales Decline: Third quarter net sales were $675 million, a decline of 4% compared to the same period in 2023, primarily due to lower paper and agency solutions sales.
Adjusted EBITDA Increase: Adjusted EBITDA was $59 million in the third quarter of 2024 compared to $57 million in the third quarter of 2023, with an adjusted EBITDA margin increasing by 54 basis points to 8.7%.
Magazine Sales Growth: During the first nine months of 2024, magazines and catalogs increased as a portion of our net sales mix by 2% compared to the previous year due to recent segment share wins such as AARP.
Cost Savings from Restructuring: We completed previously announced restructuring actions, including plant closures and labor reductions that we expect will generate $60 million of cost savings this year.
Earnings Per Share Increase: Adjusted diluted earnings per share was $0.26 in the third quarter of 2024 compared to $0.11 in the third quarter of 2023, with year-to-date adjusted diluted earnings per share at $0.49 in 2024 compared to $0.28 in 2023.
Negative
Net Sales Decline: Third quarter net sales declined 4% compared to the same period in 2023, primarily due to lower paper and agency solutions sales.
Net Sales Decline: On a year-to-date basis, net sales were $2 billion in 2024, a 9% decline compared to 2023 primarily due to lower paper sales and lower print volumes.
Adjusted EBITDA Performance: Adjusted EBITDA was $59 million in the third quarter of 2024 compared to $57 million in the third quarter of 2023, indicating minimal growth despite declining sales.
Decline in Free Cash Flow: Free cash flow was negative $92 million in the first nine months of 2024 compared to negative $18 million in the first nine months of 2023, reflecting a significant deterioration in cash generation.
Net Debt Reduction: Net debt at the end of the third quarter of 2024 was $490 million, reduced by $94 million from $584 million one year ago, indicating ongoing debt management challenges.
Quad/Graphics, Inc. (QUAD) Q3 2024 Earnings Call Transcript
QUAD.N
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