Quad/Graphics, Inc. (QUAD) Form 10-Q — Oct 29, 2026
Quad/Graphics' Q3 2026 net sales were roughly flat at $586.7M, but operating income fell to $13.9M from $26.4M a year earlier, with net earnings of $5.5M ($0.11 diluted EPS) versus $10.2M ($0.21) in Q3 2025. The decline was driven largely by $19.2M of restructuring, impairment and transaction-related charges. The biggest new risk is the $22.9M note receivable from the 2025 sale of Quad's European operations: the buyer missed its first $6.2M annual payment due February 2026 and failed to pay the agreed September 2026 amount, prompting Quad to record a $10.8M credit loss allowance.
Key figures
- Eps
- 0.11
- Revenue
- 586.7
- Net Income
- 5.5
- Revenue Yoy
- -0.2% (Q3); -2.5% nine months ($1,745.2M vs $1,789.3M)
- Cash Position
- 22.8
- Shares Outstanding
- 37,656,888 Class A; 13,261,983 Class B
- Total liquidity
- 241.0M ($156.5M under most restrictive covenants)
- Q3 dividend per share
- 0.10
- Operating income q3 2026
- 13.9M (vs $26.4M Q3 2025)
- Restructuring charges q3
- 19.2M
- Treasury repurchases remaining
- 61.1M
- Credit loss expense note receivable
- 10.8M
AI analysis
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