Quad/Graphics, Inc.

For the period ended Sep 30, 2025. Filed Oct 29, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 29, 2025

QUAD$7.40-0.9%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations (Unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share data)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Net sales
Products	$459.1	$529.8	$1,401.9	$1,534.6
Services	128.9	145.0	387.4	429.2
Total net sales	588.0	674.8	1,789.3	1,963.8
Cost of sales
Products	373.4	439.0	1,156.4	1,273.6
Services	80.7	88.6	245.8	269.2
Total cost of sales	454.1	527.6	1,402.2	1,542.8
Operating expenses
Selling, general and administrative expenses	80.9	88.4	244.6	260.2
Depreciation and amortization	19.3	24.4	59.7	79.4
Restructuring, impairment and transaction-related charges, net	7.3	39.3	23.1	81.9
Total operating expenses	561.6	679.7	1,729.6	1,964.3
Operating income (loss)	26.4	(4.9)	59.7	(0.5)
Interest expense	12.8	17.0	38.4	49.4
Net pension expense (income)	0.4	(0.2)	1.1	(0.6)
Earnings (loss) before income taxes	13.2	(21.7)	20.2	(49.3)
Income tax expense	3.0	3.0	4.3	6.3
Net earnings (loss)	$10.2	$(24.7)	$15.9	$(55.6)
Earnings (loss) per share
Basic	$0.21	$(0.52)	$0.33	$(1.17)
Diluted	$0.21	$(0.52)	$0.32	$(1.17)
Weighted average number of common shares outstanding
Basic	47.5	47.8	47.7	47.6
Diluted	49.7	47.8	50.0	47.6

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.