Quad reports first quarter 2024 results

  • Realized Net Sales of $655 million in the first quarter of 2024 compared to $767 million in 2023, and recognized a Net Loss of $28 million or $0.60 Diluted Loss Per Share for the first quarter of 2024.
  • Achieved Non-GAAP Adjusted EBITDA of $51 million in the first quarter of 2024 compared to $60 million in the first quarter of 2023, and reported $0.10 Adjusted Diluted Earnings Per Share for the first quarter of 2024.
  • Completed restructuring actions that are expected to generate $60 million of cost savings in 2024.
  • Announced In-Store Connect, a new retail solution that aims to advance the in-store shopping experience by creating digital interactions throughout physical retail environments.
  • Launched Household FusionTM, a first-of-its-kind postal optimization program created to offset continued U.S. Postal Service rate hikes and further differentiate Quad as a market innovator.
  • Introduced the next evolution of the Company’s media agency, Rise, which brings together its full range of media and owned data services under one brand.
  • Fitch corporate credit rating outlook revised to “Positive” from “Stable,” indicating future potential upgrade from current ‘B+’ rating in recognition of Quad’s strong financial and operational performance.

Joel Quadracci, Chairman, President and CEO of Quad, said: “Our first quarter results were in-line with our expectations, and we remain confident in our ability to achieve our full-year 2024 financial guidance. We continue to focus on growing our offerings, including strategic investments in innovative solutions and superior talent, while proactively managing ongoing revenue challenges that include external factors such as significant postal rate increases and continued economic uncertainty that negatively impact print volumes.

“During Q1, we announced our entry into the next big advertising channel – retail media networks or RMNs. EMARKETER predicts ad spend in omnichannel RMNs will grow to over $100 billion by 2027. Our solution, called Quad In-Store Connect, advances the in-store shopping experience by taking the best elements of digital commerce and bringing it into physical retail environments. Retailers and consumer packaged goods companies now have the ability to deliver engaging brand messages and promotions right at the store shelf – the most critical moment in the purchasing decision. We are excited to announce our partnership with The Save Mart Companies, the largest private regional grocer on the West Coast, to launch its in-store retail media network, and are in talks with several other retailers. We look forward to demonstrating how In-Store Connect can generate value for clients as we strive to become the industry standard for in-store RMNs.
details at: https://www.quad.com/wp-content/uploads/2024/04/quad-reports-first-quarter-2024-results-press-release-04302024.pdf

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