Quad Reports Second Quarter and Year-to-Date 2025 Results

Quad/Graphics, Inc., a marketing experience company, has released its financial results for the second quarter and year-to-date 2025. The company continues to invest in strategic growth areas such as data and audience intelligence, AI-enabled tools and systems, and its In-Store Retail Media Network.

Financial Highlights

For the second quarter of 2025, Quad reported net sales of $572 million, a 10% decline compared to the same period in 2024. Excluding the impact of the divestiture of its European operations, net sales declined by 4%. The company recognized a net loss of $0.1 million, or $0.00 diluted loss per share, an improvement from the net loss of $3 million, or $0.06 diluted loss per share, in the second quarter of 2024. Adjusted EBITDA was $43 million, down from $52 million in the same period last year. Adjusted diluted earnings per share increased to $0.14 from $0.12 in 2024.

Business and Operational Highlights

Quad launched Audience Builder 2.0, an AI-powered tool that enhances media buying precision and response rates through improved audience intelligence. The company also announced a partnership with Vallarta Supermarkets for its In-Store Connect retail media network. Additionally, Quad repurchased 1.4 million shares of its Class A common stock in 2025, bringing total repurchases to 7.3 million shares since 2022.

Strategic Initiatives and Corporate Developments

Quad reaffirmed its full-year 2025 financial guidance, expecting adjusted annual net sales to decline by 2% to 6%, adjusted EBITDA to range between $180 million and $220 million, and free cash flow between $40 million and $60 million. The company declared a quarterly dividend of $0.075 per share, payable on September 5, 2025.

Management's Perspective

Joel Quadracci, Chairman, President, and CEO, emphasized the company's focus on differentiating itself as a marketing experience company and highlighted ongoing investments in strategic growth areas. He noted the importance of audience intelligence in driving stronger campaign outcomes and ROI. Tony Staniak, CFO, mentioned the company's commitment to monitoring macroeconomic uncertainties while investing in innovative offerings to achieve long-term financial goals.

Future Outlook

Quad's full-year 2025 financial guidance remains unchanged, with expectations of a 2% to 6% decline in adjusted annual net sales, adjusted EBITDA between $180 million and $220 million, and free cash flow ranging from $40 million to $60 million. The company aims to maintain a year-end debt leverage ratio of approximately 1.5x.

SEC Filing: Quad/Graphics, Inc. [ QUAD ] - 8-K - Jul. 29, 2025