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Reduced net debt by $489 million or 47% over the past three years, achieving net debt leverage of 2.16x at Dec. 31, 2022.
February 22, 2023
By: DAVID SAVASTANO
Editor, Ink World Magazine
Quad/Graphics, Inc. reported results for the fourth quarter and full year ended December 31, 2022. Recent Highlights: • Increased net sales by 9%, or 11% when excluding divestitures, outperforming the 2022 guidance range of 8% to 10% growth when excluding divestitures, due to increased sales in all offerings. • Delivered net earnings of $9 million in 2022 compared to $38 million in 2021, primarily due to higher 2021 net non-recurring earnings of $72 million ($54 million, net of 25% normaliz...
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