Quad/Graphics, Inc. (NYSE:QUAD) share prices rose 27.10% to $15.62 after the company reported upbeat earnings data, advancing an additional 0.88% in after-hours trading.
Quad/Graphics, Inc. (NYSE:QUAD) released its first quarter earnings report on May 3, reporting Q1 sales of $1 billion. Quarterly earnings per share came in at $0.08 but the company remains committed to maintaining an annual dividend per share of $1.20.
The company indicated that net income came in a profit of $3.8 million from a net loss of $35.2 million in the same period a year ago. Adjusted earnings before income taxes, depreciation and amortization improved to $120 million from $103 million. Net sales were 4% lower but Quad/Graphics’ executive vice president and chief financial officer Dave Honan mentioned that the company’s recent strategic actions are expected to generate significant cash flow for 2016 and beyond.
In particular, Quad/Graphics plans to use some of the cash to pay down debt. The company has made significant progress since September 2015 by reducing debt by $245 million. Quad/Graphics has generated free cash flow of $86 billion, up $64 million from the same quarter a year ago.
“We are pleased with our first quarter 2016 results, which reflect our ongoing efforts focused on productivity improvement and sustainable cost reduction,” said Joel Quadracci, Chairman, President and CEO. “We remain disciplined in how we manage all aspects of our business to minimize the impacts of ongoing industry and economic uncertainties, and to position us as the industry’s high-quality, low-cost producer.” He added that the company plans to keep innovating with new complementary products and marketing services.
Quad/Graphics, Inc. (NYSE:QUAD) is a print and marketing services provider, operating primarily in the commercial print portion of the printing industry as a printer of retail inserts, publications, catalogs, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, other commercial and specialty printed products and global paper procurement.
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