Quad Reports First Quarter 2023 Results
*Increased Net Sales 3% in the first quarter of 2023 compared to the first quarter of 2022, primarily due to higher print product sales in the United States and in Mexico, and also increased Agency Solutions sales as clients continue to embrace Quad’s unique integrated marketing offering. *Reported Net Loss of $25 million compared to Net Loss of $1 million in the first quarter of 2022, while growing Adjusted EBITDA by $11 million or 24% to $60 million in the first quarter of 2023, compared to Adjusted EBITDA of $49 million in the first quarter of 2022. *Increased capital expenditures to fortify investments in innovations that enhance the Company’s integrated marketing offering and drive profitable, long-term growth. *Returned value to shareholders by repurchasing over 5% of our total outstanding common stock since the second quarter of 2022 for $10.3 million.