Quad/Graphics (QUAD) Misses Q3 EPS Views; Announces $100M Cost Reduction Program
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Quad/Graphics Reports Third Quarter and Year-to-Date September 2015 Results
November 3, 2015 4:30 PM ESTHighlights:
Generated third quarter net sales of $1.2Â billion and Adjusted EBITDA of $117Â million. Achieved Free Cash Flow of $68Â million year-to-date, representing a $106Â million increase over prior year. Lowers full-year 2015 guidance for net sales to a range of $4.6Â billion to $4.7Â billion; Adjusted EBITDA to a range of $430Â million to $450Â million; and Free Cash Flow to a range of $165Â million to $180Â million. Announces $100Â million cost reduction program. Completed the strategic acquisition of Specialty Finishing, a full-service paperboard folding carton manufacturer, to support transformative growth opportunities... More