Quad/Graphics Reports Slight Gains and Declares First Cash Dividend

John Fowler, executive vice president and CFO, reiterated that the quarter’s results met company expectations. “Our sales increase was driven by increases in volumes from legacy Quad/Graphics as well as increases in paper and byproduct revenues,” he said. “Adjusted EBITDA of $140.7 million was slightly ahead of last year, and Adjusted EBITDA margin was 12.8 percent. We credit this to our ability to manage costs while also addressing declines in legacy Worldcolor volumes, lower contractual pricing inherited with the acquisition, and ongoing pricing headwinds due to overcapacity in the industry.