Quad Reports Second Quarter & Year-to-Date 2026 Results

Quad/Graphics, Inc. reported results for the second quarter ended June 30, 2026.

Joel Quadracci, Chairman and Chief Executive Officer of Quad, said: “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.”

Recent Highlights

• Realized Net Sales of $578 million in the second quarter of 2026 compared to $572 million in the second quarter of 2025, representing a 1% increase in Net Sales.
• Recognized Net Earnings of $4 million and $0.07 Diluted Earnings Per Share in the second quarter of 2026, compared to a Net Loss of $0.1 million and $0.00 Diluted Loss Per Share in 2025.
• Reported Non-GAAP Adjusted EBITDA of $42 million in the second quarter of 2026, compared to $43 million in 2025.
• Achieved $0.24 Adjusted Diluted Earnings Per Share in the second quarter of 2026, an increase of 71% from $0.14 per share in 2025.
• Declared a quarterly dividend of $0.10 per share payable September 4, 2026.
• Reaffirms full-year 2026 financial guidance.

Added Tony Staniak, Chief Financial Officer and Treasurer of Quad: “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.”

Net Sales for the second quarter were $578 million, an increase of 1% compared to the same period in 2025. The increase in Net Sales was primarily due to higher paper sales and higher logistics sales.

Net Sales were $1.2 billion in the six months ended June 30, 2026, a decrease of 4% compared to the same period in 2025. Excluding the 2% impact of the divestiture of the company’s European operations, Net Sales declined 2%. The decline in Net Sales was primarily due to lower print volumes and lower agency solutions sales, partially offset by higher paper sales.