Overview

* Quad Q2 2025 net sales decline 10% yr/yr, but beat analyst expectations

* Adjusted EPS meets analyst expectations at $0.14, per LSEG data

* Co reaffirms full-year 2025 guidance, continues strategic investments in growth areas

Outlook

* Quad reaffirms 2025 guidance with 2%-6% net sales decline

* Company expects 2025 adjusted EBITDA of $180 mln to $220 mln

* Quad projects 2025 free cash flow of $40 mln to $60 mln

* Company anticipates year-end debt leverage ratio of approximately 1.5x

Result Drivers

* SALES DECLINE - Quad's net sales fell 10% in Q2 2025, mainly due to the divestiture of European operations and lower paper and logistics sales

* INVESTMENTS - Co continues to invest in data and audience intelligence, AI tools, and retail media network to drive future growth

* COST REDUCTION - Improved net loss due to lower expenses and increased manufacturing productivity, despite lower sales

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Sales Beat $572 mln $555 mln

(2

Analysts

)

Q2 Meet $0.14 $0.14 (2

Adjusted Analysts

EPS )

Q2 Net -$100,00

Income 0

Q2 $43 mln

Adjusted

EBITDA

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 ( QUAD ) is $9.45, about 37.8% above its July 28 closing price of $5.88

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

(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.)