RR Donnelley (RRD) Tops Q4 EPS by 12c, Beats on Revenues; Offers FY18 EPS/Revenue Guidance Below Consensus

RR Donnelley (NASDAQ: RRD) reported Q4 EPS of $0.81, $0.12 better than the analyst estimate of $0.69. Revenue for the quarter came in at $1.93 billion versus the consensus estimate of $1.81 billion.

Key messages

• Net sales grew 3.6% and organic sales grew 2.6% for the fourth quarter 2017 - organic growth represents strongest performance since 2014
• Diluted earnings per share in the fourth quarter improved significantly over the prior year on both a GAAP and a non-GAAP basis
• GAAP income from operations increased to $105 million in the fourth quarter; non-GAAP income from operations up 11% to $113 million; both at highest levels since 2014
• Improved GAAP and non-GAAP operating margins over prior year comparable margins
• Operating cash flow for the full year up 71% to $218 million
• Reduced debt by $278 million during 2017 improving leverage ratio by 10%

GUIDANCE:

RR Donnelley sees FY2018 EPS of $0.90-$1.20, versus the consensus of $1.11. RR Donnelley sees FY2018 revenue of $6.8-7 billion, versus the consensus of $6.83 billion.

For earnings history and earnings-related data on RR Donnelley (RRD) click here.

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