Quad/Graphics sales increased 3.8% during first quarter

Freeman Staff

May 1, 2019

SUSSEX — While net sales increased 3.8% during the first quarter for Quad/Graphics, Inc., the value of stocks decreased $0.45 per share, as compared to a loss of $3.5 million, or $0.07 per share, in 2018.

The first quarter financial results released Tuesday were “in-line” with company expectations and reflect its “consistent execution against strategic priorities,” said Joel Quadracci, Quad chairman, president and CEO, in a statement.

“These priorities include making long-term strategic investments that further accelerate our Quad 3.0 transformation, such as our recent acquisition of Periscope, a leading independent creative agency that further enhances our integrated marketing solutions platform,” he said.

Net sales increased 3.8% during the first quarter that ended March 31, to $1 billion, primarily due to the Periscope acquisition, according to the earnings report. Organic sales declined 0.6% after excluding a 4.4% acquisition sales impact. The organic results reflect ongoing print industry volume and pricing pressures partially offset by an increase in paper sales.

Net loss attributable to Quad common shareholders during the first quarter of 2019 was $22.5 million, or $0.45 loss per share, as compared to a loss of $3.5 million, or $0.07 per share, in 2018, according to the report.

“We also continue to prepare for and work toward completing the acquisition of LSC Communications and expect the all-stock transaction to close in mid-2019,” Quadracci said.