| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 577.50 | 0.6% | 1.0% |
| Total Income | 577.50 | 0.6% | 1.0% |
| Expenditure | 562.60 | 0.1% | 0.8% |
| PBT | 6.20 | 21.5% | 3000.0% |
| Net Profit | 3.70 | 40.3% | 3800.0% |
| OPM | 2.58% | 0.47pp | 0.18pp |
| NPM | 0.64% | 0.43pp | 0.66pp |
| EPS | 0.08 | 38.5% |
Quad Reports Q2 2026 Results with Net Sales Increase and Reaffirms Full-Year Guidance
29 Jul 2026 · 29 Jul, 2:36 am
Summary
Quad/Graphics, Inc. reported second quarter 2026 results with Net Sales increasing by 1% year-over-year to $578 million, driven by higher paper and logistics sales. The company achieved Net Earnings of $4 million and $0.07 Diluted Earnings Per Share, a significant improvement from a net loss in the prior year's quarter. While Adjusted EBITDA was slightly down to $42 million from $43 million, Adjusted Diluted Earnings Per Share saw a substantial 71% increase to $0.24. Management highlighted strategic investments in growth-oriented offerings, including the expansion of its Packaging business and deepening client relationships, while maintaining a focus on productivity and cost management. The company reaffirmed its full-year 2026 financial guidance.
Key Highlights
- 1
Quad reported Net Sales of $578 million in the second quarter of 2026, a 1% increase compared to $572 million in the second quarter of 2025.
- 2
The company recognized Net Earnings of $4 million and $0.07 Diluted Earnings Per Share in the second quarter of 2026, an improvement from a Net Loss of $0.1 million and $0.00 Diluted Loss Per Share in 2025.
- 3
Non-GAAP Adjusted EBITDA was $42 million in the second quarter of 2026, compared to $43 million in the same period of 2025.
- 4
Adjusted Diluted Earnings Per Share increased by 71% to $0.24 in the second quarter of 2026, up from $0.14 per share in 2025.
- 5
Quad announced the westward expansion of its Packaging division with a new 100,000 square-foot facility in Salt Lake City, Utah, expected to be operational in Q4 2026.
- 6
The company reaffirmed its full-year 2026 financial guidance, including an expected Adjusted Annual Net Sales change of a 1% to 5% decline and Full-Year Adjusted EBITDA between $175 million and $215 million.
- 7
Quad declared a quarterly dividend of $0.10 per share, payable on September 4, 2026.
Management Comments
Joel Quadracci
We continue to execute our long-term strategy by investing in growth-oriented offerings across our agency solutions and targeted print businesses. We announced the westward expansion of our Packaging division with a new facility in Salt Lake City, which is expected to be operational in the fourth quarter of 2026. This investment rounds out a national manufacturing footprint for our Packaging business, enhancing our ability to serve both national brands and regional packaging clients with greater speed, flexibility and reach. We also continue to deepen existing account relationships and expand opportunities as clients adopt more of our integrated creative, media and marketing solutions. For example, we have broadened our work with long-time print client Wakefern, the nation’s largest retailer-owned grocery cooperative, to include Rise’s media services; content creation; and In-Store Connect, our in-store retail media network solution, in 30 of its ShopRite stores. As we continue to invest in long-term growth, we remain equally focused on driving productivity and operational excellence. Through automation, AI-enabled tools and disciplined cost management, we continue to strengthen our operating model and drive strong productivity in our print business lines. Supported by these efforts, we remain on track to achieve our full-year guidance despite ongoing macroeconomic and geopolitical uncertainty.
Tony Staniak
Net Sales grew year-over-year in the second quarter of 2026, driven by higher paper sales and logistics sales, representing progress toward our 2028 projected full-year revenue growth. Adjusted EBITDA and Free Cash Flow were essentially flat compared to 2025 and consistent with our full-year financial guidance. We continue to monitor inflation, economic and global trade dynamics, and geopolitical tensions, and are adjusting as necessary to mitigate their impact on our business and our clients. While continuing to invest to drive long-term growth, we returned $13 million to shareholders during the first half of 2026 through our quarterly dividend of $0.10 per share and share repurchases. We expect to remain opportunistic in terms of future share repurchases.
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