Quad Reports Third Quarter and Year-to-Date 2021 Results
Recent Highlights *Increased net sales by 4%, with 7% organic growth (excluding the divestiture of the Company’s third-party logistics business), from third quarter 2020 driven by higher print volumes, including print segment share gains from new clients, as well as a continued positive trend in Agency Solutions net sales. *Increased net earnings from continuing operations by $12 million to $14 million during the third quarter of 2021 as compared to 2020. *Achieved a 6% increase in Adjusted EBITDA to $64 million during the third quarter of 2021 as compared to 2020. *Reduced net debt by $140 million or 15% over the past 12 months. *Reaffirms full-year financial outlook for 2021 Net Sales, Adjusted EBITDA and Debt Leverage. *Amends and extends $1 billion bank debt agreement to November 2026.