Q3 2025 Quad/Graphics Inc Earnings Call Transcript
Key Points
- Quad/Graphics Inc (QUAD) is making targeted investments in AI-powered tools, data intelligence services, and retail media networks to strengthen its marketing experience capabilities.
- The company has returned $19 million of capital to shareholders year-to-date, demonstrating a strong balance sheet and disciplined business management.
- Quad/Graphics Inc (QUAD) has successfully integrated a generative AI chat feature into its Audience Builder platform, enhancing data-driven marketing strategies.
- The company's in-store connect retail media network has shown positive results, with significant sales lifts for brands like Nestle USA and PepsiCo.
- Quad/Graphics Inc (QUAD) is strategically investing in integrated solutions and targeted print offerings, expecting these areas to outpace declines in large-scale print product lines by 2028.
- Net sales decreased by 7% in the third quarter of 2025 compared to the same period in 2024, primarily due to lower paper sales, print volumes, and logistics and agency solution sales.
- The company experienced a decline in adjusted EBITDA from $59 million in Q3 2024 to $53 million in Q3 2025, with a slight improvement in adjusted EBITDA margin.
- High postage rates continue to significantly impact the industry, although the USPS announced no January price increase for market dominant mail.
- Quad/Graphics Inc (QUAD) is facing increased costs due to tariffs on certain print-related materials, leading to a planned price increase for clients starting January 1.
- The company's net debt leverage ratio is expected to slightly increase by the end of 2025 due to acquisitions and lower than expected proceeds from asset sales.
Good morning, and welcome to Quad's second quarter 2025 conference call. (Operator Instructions)
Please note this event is being recorded. I will now turn the conference over to Katie Krebsbach, Quad Senior Manager of Investor Relations.
Katie, please go ahead.
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Thank you, operator, and good morning everyone. With me today are Joel Quadracci, Quad's Chairman, President and Chief Executive Officer, and Tony Staniak, Quad's Chief Financial Officer.
Joel will lead today's call with a business update, and Tony will follow with a summary of Quad's third quarter and year-to-date financial results followed by Q&A.
I would like to remind everyone that this call is being webcast and forward-looking statements are subject to safe harbor provisions, as outlined in our quarterly news release and in today's slide presentation on slide 2.
Quad's financial results are prepared in accordance with generally accepted
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