Quad/Graphics Reports a Small Net Sales Decline

John Fowler, executive vice president and chief financial officer, reiterated that despite the operational challenges the company faced in the quarter, it was on plan through the first half of the year. “We remain committed to achieving our full-year projections for Adjusted EBITDA of slightly in excess of $700 million. However, given the concerns we have seen in the economy, the headwinds we see from the revenue decline in the books segment and the continuing frictional costs from plant consolidations, we believe it is prudent to adjust our full-year Adjusted EBITDA projection to a range of $660 million to $700 million,” he said.