Vertis Acquisition Provides Financial Bump for Quad

“Our adjusted EBITDA and adjusted EBITDA margin of 10 percent were in line with our expectations and reflect Vertis' lower margin profile and increased seasonality, and ongoing industry pricing and volume pressures,” added John Fowler, Quad/Graphics executive vice president and CFO.

"We are pleased with our recurring free cash flow of $86 million, which was generated during a quarter that normally reflects lower volumes due to industry seasonality. Recurring free cash flow is the foundation of our strong balance sheet and provides us with the flexibility and confidence to invest in our business and pursue value-added opportunities as they arise to ensure strong future cash flow.”