• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Top Companies
    • Printing Inks
    • Raw Materials
    • Equipment
    • Directories
    • Events
    • Jobs
    • More
  • Magazine
  • News
  • Exclusives
  • Top Companies
  • Printing Inks
  • Raw Materials
  • Equipment
  • Directories
  • Events
  • Jobs
  • Current / Back Issues
    Features
    Columns
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    eBook
    Top Features
    The 2022 Packaging Ink Report

    The UV Ink Market Continues to Thrive

    The Conductive Ink Market is Showing Growth

    The 2022 Resin Report

    EU Chemicals Sector Embarks on Transition Pathway
    Breaking News
    Distributor News
    Financial News
    Industry News
    Ink Manufacturers News
    Market Research
    Mergers and Acquisitions
    New Products
    Personnel
    Price Increases
    Printers News
    Suppliers News
    Live From Shows
    Video Bites
    Top News
    Weekly Recap: Flint OPS, Xerox and MNYPIA Top This Week’s News

    Azelis Acquires Chemical Partners, Adds to Leadership in Africa and Middle East

    International Paper Publishes 2021 Sustainability Report

    Epson Now Shipping New SureColor P8570D 44-Inch Production Photo and Graphics Printer

    Kodak Joins SGP as Platinum Patron
    Whitepapers
    Top North American Companies
    Top International Companies
    Conductive Inks and Printed Electronics
    Graphic Arts Coatings
    Inkjet Inks and Toners
    Marking and Pad Printing Inks
    News Inks
    Packaging Flexo Inks
    Packaging Gravure Inks
    Publication Gravure Inks
    Publication Offset Inks
    Screen Inks
    Sheetfed Inks
    Specialty Inks
    UV and EB Inks

    Kodak Joins SGP as Platinum Patron

    Epson Now Shipping New SureColor P8570D 44-Inch Production Photo and Graphics Printer

    ITMA ASIA + CITME 2022 Online Visitor Registration Opens

    INX Launches INXFlex Contour for Shrink Sleeve Market

    Xerox Announces Unexpected Passing of Vice Chairman and CEO John Visentin
    Additives
    Energy-Curable Materials
    Flushed Colors and Pigments
    Metallics and Special Effects Pigments
    Resins
    Vehicles and Varnishes
    Waxes

    Emmanuelle Bromet Appointed Arkema Sustainable Development VP

    Ingevity Appoints Christine Stunyo as Chief Human Resources Officer

    Dr. Tammo Boinowitz to Join Management Board of ALTANA AG

    Orion Announces Price Increases, Reduced Payment Terms

    BASF Has Range of Chemical Intermediates with Low PCF
    Energy-Curing Equipment
    Mills and Mixers
    Testing, Color and QC

    ROSS Planetary Dual Dispersers Offer Unique Processing Flexibility

    Dr. Tammo Boinowitz to Join Management Board of ALTANA AG

    Great Lakes Brewing Wins Consecutive INX Can Design Contest Titles

    Ross Offers Fully Enclosed Mixing/Melting System

    Paul N. Gardner USA Introduces New PosiTector GLS Gloss Meter
    Buyers Guide
    Distributor Guide
    European Ink Directory
    U.S. Ink Directory
    International Buyers Guide Companies
    Hydrite Chemical Co

    Hockmeyer Equipment Corp.

    KRONOS INTERNATIONAL, Inc.

    Meteor Inkjet Ltd

    Pan Technology, Inc.
    Industry Events
    Live from Show Event
    Webinars
    Top Events
    Labelexpo Americas 2022
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Departments
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directory
      • Buyers Guide
      • Distributor Guide
      • European Ink Directory
      • U.S. Ink Directory
      • Trade Associations
    • Printing Inks
      • Conductive Inks and Printed Electronics
      • Graphic Arts Coatings
      • Inkjet Inks and Toners
      • Marking and Pad Printing Inks
      • News Inks
      • Packaging Flexo Inks
      • Packaging Gravure Inks
      • Publication Gravure Inks
      • Publication Offset Inks
      • Screen Inks
      • Sheetfed Inks
      • Specialty Inks
      • UV and EB Inks
    • Raw Materials
      • Additives
      • Energy-Curable Materials
      • Flushed Colors and Pigments
      • Metallics and Special Effects Pigments
      • Resins
      • Vehicles and Varnishes
      • Waxes
    • Equipment
      • Energy-Curing Equipment
      • Mills and Mixers
      • Testing, Color and QC
    • Top Companies
      • Top North American Companies
      • Top International Companies
    • Online Exclusives
    • Slideshows
    • Expert's Opinion
    • Videos
    • eBook
    • Podcasts
    • Blog
    • Infographics
    • Whitepapers
    • Jobs
    • Supplier Microsites
      • Companies
      • Literature / Brochures
      • Whitepapers
      • Product Spec Sheets
      • Videos
      • Jobs
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    Quad Reports Third Quarter and Year-to-Date 2021 Results

    Continued recovery, strong execution drives 4% higher net sales with organic growth of 7% and increased profitability year-over-year.

    Quad Reports Third Quarter and Year-to-Date 2021 Results
    11.04.21
    Quad/Graphics, Inc. reported results for the third quarter of 2021.

    Net sales were $706 million in the third quarter of 2021, up 4% from the same period in 2020. Excluding the divestiture of QuadExpress, a third-party logistics (3PL) business, organic net sales increased 7% from 2020, driven by higher print volumes, including print segment share gains from new clients, as well as a continued positive trend in Agency Solutions net sales.

    The company increased net earnings from continuing operations by $12 million to $14 million during the third quarter of 2021 as compared to 2020, and achieved a 6% increase in adjusted EBITDA to $64 million during the third quarter of 2021 as compared to 2020. Quad has reduced net debt by $140 million or 15% over the past 12 months.

    “Our third quarter results were strong with higher print volumes, including print segment share gains from new clients, as well as a continued positive trend in Agency Solutions, all of which contributed to year-over-year organic growth of 7% in net sales,” Joel Quadracci, chairman, president and CEO of Quad, said.

    “Our integrated marketing offering continues to be a competitive differentiator and a key driver behind our company’s overall organic growth,” Quadracci noted. “We are proud that some of the world’s most recognizable brands have chosen to partner with us for strategic marketing solutions, reflecting the strength of our offering and ability to deliver more value through reduced complexity, increased efficiencies and enhanced marketing spend effectiveness across all media channels. We continue to build out and invest in the talent, technology, products and services that will further advance our value as a marketing solutions partner.”

    Net sales were $2.1 billion in the nine months ended Sept. 30, 2021, up 1% from the same period in 2020. Excluding recent divestitures, organic net sales increased 2% compared to 2020. The net sales increase during the nine months ended Sept. 30, 2021 was due to a 13% increase in year-over-year logistics net sales and a 9% increase in year-over-year Agency Solutions net sales, while print net sales were flat between years (which includes a 14% decrease in first quarter net sales due to year-over-year impacts from the COVID-19 pandemic).

    Net earnings from continuing operations were $59 million or $1.12 diluted earnings per share in the nine months ended Sept. 30, 2021, an increase of $80 million compared to the same period in 2020, which recorded a net loss of $21 million or $0.41 diluted loss per share from continuing operations.

    Adjusted EBITDA was $190 million in the nine months ended Sept. 30, 2021, as compared to $196 million in the same period in 2020. The $6 million decrease was due to $39 million of temporary COVID-19 pandemic related cost savings in 2020, a $12 million benefit in 2020 from a change in the vacation policy, and the negative impact of cost inflation, partially offset by higher profit from increased net sales and a $9 million net gain from property insurance claims.

    Net cash provided by operating activities decreased by $85 million to $22 million for the nine months ended Sept. 30, 2021, as compared to $107 million in the same period in 2020. Free cash flow decreased by $76 million to negative $20 million for the nine months ended Sept. 30, 2021, as compared to the same period in 2020.

    Debt less cash and cash equivalents decreased by $74 million to $799 million as of Sept. 30, 2021, as compared to $873 million at Dec. 31, 2020.  The reduction was primarily due to cash generated from asset sales, including the divestiture of QuadExpress, a third-party logistics (3PL) business, and the sale and leaseback of the Chalfont, PA and West Allis, WI facilities.

    “We achieved strong operational and financial performance in the third quarter as we grew net sales, adjusted EBITDA and adjusted EBITDA margin despite significant challenges from inflationary costs and supply chain disruptions,” Dave Honan, EVP and CFO, said. “As we look to the fourth quarter, our strong sales momentum and continued drive for operational excellence provides us with the confidence to reaffirm our full-year 2021 outlook.”
    Related Searches
    • Publication Offset Inks
    • Inkjet Inks and Toners
    • Publication Gravure Inks
    Related Knowledge Center
    • Publication Offset Inks
    • Publication Gravure Inks
    • Inkjet Inks and Toners
    Loading, Please Wait..
    Trending
    • CPIPC Takes To The Links!
    • Flint Offset Packaging Solutions Announces Price Increases For Sheetfed Inks
    • INX Launches INXFlex Contour For Shrink Sleeve Market
    • Socipack Installs Second Nilpeter Press
    • Azelis Acquires Chemical Partners, Adds To Leadership In Africa And Middle East
    Breaking News
    • Weekly Recap: Flint OPS, Xerox and MNYPIA Top This Week’s News
    • Azelis Acquires Chemical Partners, Adds to Leadership in Africa and Middle East
    • International Paper Publishes 2021 Sustainability Report
    • Epson Now Shipping New SureColor P8570D 44-Inch Production Photo and Graphics Printer
    • Kodak Joins SGP as Platinum Patron
    View Breaking News >
    CURRENT ISSUE

    April 2022

    • The 2022 Packaging Ink Report
    • The UV Ink Market Continues to Thrive
    • The Conductive Ink Market is Showing Growth
    • The 2022 Resin Report
    • EU Chemicals Sector Embarks on Transition Pathway
    • Overview of Ink Demand in Asian Ceramic Industry
    • Industry Gears Up for the 2022 American Coatings Show and Conference
    • Defining - Evaluating Impurities, IAS, NIAS, and NLS (Part 2)
    • Needham Group Embraces New Technologies
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Pharmavite Expands in Ohio with $200 Million Investment
    Nestlé Health Science Expands in New Zealand with Deal to Buy The Better Health Company
    Younger Consumers Drive Growing Demand for Ingestible Beauty and Skin Care Products
    Coatings World

    Latest Breaking News From Coatings World

    Azelis Acquires Chemical Partners, Strengthens Leadership in Africa and Middle East
    Emmanuelle Bromet Named Arkema Sustainable Development VP
    ROSS Planetary Dual Dispersers Have Unique Processing Flexibility
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    MPO's Most-Read Stories This Week—July 2
    OmniGuide Awarded FDA Clearance for RevoLix Hybrid Thulium Laser
    Pancryos Forges License Agreement for Microencapsulation Device
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Bayer Opens New Research and Innovation Center at Kendall Square
    Lonza Names Maria Soler Nunez as Head, Group Operations
    Eurofins DiscoverX Opens Shanghai Office
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Dexlevo Introduces Beauty Treatment technique, ‘GOURI’
    Revision Skincare Exec Wins Ernst & Young Entrepreneur of the Year
    Latest Updates About Cosmoprof North America
    Happi

    Latest Breaking News From Happi

    L’Oréal’s Solution for Gray Hair, Scotch Porter's New President & Boots No. 7 Beauty Is Not for Sale
    SCOTUS EPA Ruling Won’t Impact General Regulatory Authority
    Toning Collection For Zero-Brass Blondes is New at Colorproof
    Ink World

    Latest Breaking News From Ink World

    Weekly Recap: Flint OPS, Xerox and MNYPIA Top This Week’s News
    Azelis Acquires Chemical Partners, Adds to Leadership in Africa and Middle East
    International Paper Publishes 2021 Sustainability Report
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    UPM Raflatac boosts operations in US, All4Labels returns to HP and more
    Fedrigoni Self-Adhesives to exhibit at Labelexpo Americas for first time
    CELAB Europe wins Paper Recycling award
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Weekly Recap: Lifetime Technical Achievement Award Presented to Richard Knowlson, Alkegen Completes Luyang Acquisition & More
    Glatfelter, Blue Ocean Closures Partner with Absolut
    What You’re Reading on Nonwovens-Industry.com
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    ODT's Most-Read Stories This Week—July 2
    NuVasive Inc. Opens Singapore Experience Center
    Pedicle Screw Systems Market to Top $3B in 2027
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Weekly Recap: eMagin, Identiv, and Japan Display Top This Week’s Stories
    Epishine is Building a New Solar Cell Factory in Linköping, Sweden
    Toppan Establishes CVC Fund and Investment Management Company in the US

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login