Quad/Graphics, Inc. (QUAD) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 581M | 630.6M | 588M | 571.9M | 629.4M | 708.4M | 674.8M | 634.2M | 654.8M | 787.9M | 700.2M | 703.1M | 766.5M | 885.2M | 829.9M | 757.7M | 744.2M | 854.6M | 706.1M | 693.9M |
| Revenue Growth % | -7.69% | -10.98% | -12.86% | -9.82% | -3.88% | -10.09% | -3.63% | -9.8% | -14.57% | -10.99% | -15.63% | -7.21% | 3% | 3.58% | 17.53% | 9.19% | 5.44% | 1.34% | 3.95% | 18.72% |
| Cost of Goods Sold | 476.5M | 513.3M | 473.4M | 468.8M | 519.7M | 572.5M | 552M | 520.3M | 549.9M | 664.2M | 592.8M | 601.8M | 651.2M | 742.3M | 708.3M | 653.4M | 656.1M | 739.8M | 612.8M | 592.9M |
| COGS % of Revenue | 82.01% | 81.4% | 80.51% | 81.97% | 82.57% | 80.82% | 81.8% | 82.04% | 83.98% | 84.3% | 84.66% | 85.59% | 84.96% | 83.86% | 85.35% | 86.23% | 88.16% | 86.57% | 86.79% | 85.44% |
| Gross Profit | 104.5M | 117.3M | 114.6M | 103.1M | 109.7M | 135.9M | 122.8M | 113.9M | 104.9M | 123.7M | 107.4M | 101.3M | 115.3M | 142.9M | 121.6M | 104.3M | 88.1M | 114.8M | 93.3M | 101M |
| Gross Margin % | 17.99% | 18.6% | 19.49% | 18.03% | 17.43% | 19.18% | 18.2% | 17.96% | 16.02% | 15.7% | 15.34% | 14.41% | 15.04% | 16.14% | 14.65% | 13.77% | 11.84% | 13.43% | 13.21% | 14.56% |
| Gross Profit Growth % | -4.74% | -13.69% | -6.68% | -9.48% | 4.58% | 9.86% | 14.34% | 12.44% | -9.02% | -13.44% | -11.68% | -2.88% | 30.87% | 24.48% | 30.33% | 3.27% | -15.37% | -2.46% | 2.3% | 31.34% |
| Operating Expenses | 78.4M | 81.3M | 80.9M | 80.2M | 83.5M | 96.6M | 88.4M | 88.7M | 83.1M | 89.5M | 82.5M | 83.3M | 89.2M | 101.8M | 90.8M | 86.9M | 79.1M | 96.7M | 68.7M | 80.1M |
| OpEx % of Revenue | 13.49% | 12.89% | 13.76% | 14.02% | 13.27% | 13.64% | 13.1% | 13.99% | 12.69% | 11.36% | 11.78% | 11.85% | 11.64% | 11.5% | 10.94% | 11.47% | 10.63% | 11.32% | 9.73% | 11.54% |
| Selling, General & Admin | 78.4M | 81.3M | 80.9M | 80.2M | 83.5M | 96.6M | 88.4M | 88.7M | 83.1M | 89.5M | 82.5M | 83.3M | 89.2M | 101.8M | 90.8M | 86.9M | 79.1M | 96.7M | 68.7M | 80.1M |
| SG&A % of Revenue | 13.49% | 12.89% | 13.76% | 14.02% | 13.27% | 13.64% | 13.1% | 13.99% | 12.69% | 11.36% | 11.78% | 11.85% | 11.64% | 11.5% | 10.94% | 11.47% | 10.63% | 11.32% | 9.73% | 11.54% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 26.1M | 36M | 33.7M | 22.9M | 26.2M | 39.3M | 34.4M | 25.2M | 21.8M | 34.2M | 24.9M | 18M | 26.1M | 41.1M | 30.8M | 17.4M | 9M | 18.1M | 24.6M | 20.9M |
| Operating Margin % | 4.49% | 5.71% | 5.73% | 4% | 4.16% | 5.55% | 5.1% | 3.97% | 3.33% | 4.34% | 3.56% | 2.56% | 3.41% | 4.64% | 3.71% | 2.3% | 1.21% | 2.12% | 3.48% | 3.01% |
| Operating Income Growth % | -0.38% | -8.4% | -2.03% | -9.13% | 20.18% | 14.91% | 38.15% | 40% | -16.48% | -16.79% | -19.16% | 3.45% | 190% | 127.07% | 25.2% | -16.75% | -61.86% | -12.14% | 47.31% | 37.5% |
| EBITDA | 44.5M | 54.9M | 53M | 43.6M | 45.9M | 62.4M | 58.8M | 51.6M | 50.4M | 65.3M | 56.9M | 50M | 59.8M | 75.8M | 65.6M | 52.7M | 45.5M | 56.1M | 63.3M | 59.6M |
| EBITDA Margin % | 7.66% | 8.71% | 9.01% | 7.62% | 7.29% | 8.81% | 8.71% | 8.14% | 7.7% | 8.29% | 8.13% | 7.11% | 7.8% | 8.56% | 7.9% | 6.96% | 6.11% | 6.56% | 8.96% | 8.59% |
| EBITDA Growth % | -3.05% | -12.02% | -9.86% | -15.5% | -8.93% | -4.44% | 3.34% | 3.2% | -15.72% | -13.85% | -13.26% | -5.12% | 31.43% | 35.12% | 3.63% | -11.58% | -30.53% | -11.37% | 2.93% | -3.72% |
| D&A (Non-Cash Add-back) | 18.4M | 18.9M | 19.3M | 20.7M | 19.7M | 23.1M | 24.4M | 26.4M | 28.6M | 31.1M | 32M | 32M | 33.7M | 34.7M | 34.8M | 35.3M | 36.5M | 38M | 38.7M | 38.7M |
| EBIT | 26.1M | 36M | 26M | 13.4M | 19.2M | 19.9M | -4.7M | 15.3M | -10.5M | 2.2M | 12.7M | 8.8M | 500K | 11.4M | 28.4M | 17.3M | 8.6M | -100K | 31.4M | 51.5M |
| Net Interest Income | -10M | -12.1M | -12.8M | -13.2M | -12.4M | -15.1M | -17M | -17.2M | -15.2M | -19M | -17.7M | -17M | -16.3M | -16.1M | -12.1M | -10.9M | -9.3M | -14.5M | -15M | -15.6M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 10M | 12.1M | 12.8M | 13.2M | 12.4M | 15.1M | 17M | 17.2M | 15.2M | 19M | 17.7M | 17M | 16.3M | 16.1M | 12.1M | 10.9M | 9.3M | 14.5M | 15M | 15.6M |
| Other Income/Expense | -18.2M | -23.7M | -20.5M | -22.7M | -19.4M | -34.5M | -56.1M | -27.1M | -47.5M | -49.3M | -28.4M | -26.2M | -41.9M | -45.4M | -14.5M | -11M | -9.7M | -33.8M | -8M | 14.8M |
| Pretax Income | 7.9M | 12.3M | 13.2M | 200K | 6.8M | 4.8M | -21.7M | -1.9M | -25.7M | -15.1M | -3.5M | -8.2M | -15.8M | -4.3M | 16.3M | 6.4M | -700K | -15.7M | 16.6M | 35.7M |
| Pretax Margin % | 1.36% | 1.95% | 2.24% | 0.03% | 1.08% | 0.68% | -3.22% | -0.3% | -3.92% | -1.92% | -0.5% | -1.17% | -2.06% | -0.49% | 1.96% | 0.84% | -0.09% | -1.84% | 2.35% | 5.14% |
| Income Tax | 1.7M | 1.2M | 3M | 300K | 1M | 100K | 3M | 900K | 2.4M | 6.9M | -800K | -2.1M | 8.8M | 4.4M | 2.6M | 1.1M | 300K | 5.4M | 2.3M | 1.3M |
| Effective Tax Rate % | 21.52% | 9.76% | 22.73% | 150% | 14.71% | 2.08% | -13.82% | -47.37% | -9.34% | -45.7% | 22.86% | 25.61% | -55.7% | -102.33% | 15.95% | 17.19% | -42.86% | -34.39% | 13.86% | 3.64% |
| Net Income | 6.2M | 11.1M | 10.2M | -100K | 5.8M | 4.7M | -24.7M | -2.8M | -28.1M | -22M | -2.7M | -6.1M | -24.6M | -8.7M | 13.7M | 5.3M | -1M | -21.1M | 14.3M | 34.4M |
| Net Margin % | 1.07% | 1.76% | 1.73% | -0.02% | 0.92% | 0.66% | -3.66% | -0.44% | -4.29% | -2.79% | -0.39% | -0.87% | -3.21% | -0.98% | 1.65% | 0.7% | -0.13% | -2.47% | 2.03% | 4.96% |
| Net Income Growth % | 6.9% | 136.17% | 141.3% | 96.43% | 120.64% | 121.36% | -814.81% | 54.1% | -14.23% | -152.87% | -119.71% | -215.09% | -2360% | 58.77% | -4.2% | -84.59% | -109.8% | 77.55% | 793.75% | 246.38% |
| Net Income (Continuing) | 6.2M | 11.1M | 10.2M | -100K | 5.8M | 4.7M | -24.7M | -2.8M | -28.1M | -22M | -2.7M | -6.1M | -24.6M | -8.7M | 13.7M | 5.3M | -1M | -21.1M | 14.3M | 34.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.13 | 0.22 | 0.21 | -0.00 | 0.11 | 0.09 | -0.52 | -0.06 | -0.60 | -0.47 | -0.06 | -0.12 | -0.50 | -0.18 | 0.27 | 0.10 | -0.02 | -0.41 | 0.27 | 0.66 |
| EPS Growth % | 18.18% | 139.65% | 140.38% | 96.42% | 118.33% | 119.53% | -825.27% | 51.08% | -20% | -161.11% | -120.81% | -222.45% | -2477.32% | 56.1% | 0% | -85.15% | -110.21% | 77.84% | 800% | 243.48% |
| EPS (Basic) | 0.13 | 0.23 | 0.21 | -0.00 | 0.12 | 0.10 | -0.52 | -0.06 | -0.60 | -0.47 | -0.06 | -0.12 | -0.50 | -0.18 | 0.27 | 0.10 | -0.02 | -0.42 | 0.28 | 0.67 |
| Diluted Shares Outstanding | 49.6M | 49.9M | 49.7M | 47.6M | 50.7M | 51.2M | 47.8M | 47.7M | 47.2M | 47.2M | 48M | 49.3M | 49.2M | 49.1M | 51.6M | 54.1M | 51.5M | 51.3M | 53.1M | 52.5M |
| Basic Shares Outstanding | 47.7M | 47.5M | 47.5M | 47.6M | 48M | 47.6M | 47.8M | 47.7M | 47.2M | 47.2M | 48M | 49.3M | 49.2M | 49.1M | 50.1M | 52.1M | 50M | 50.33M | 51.3M | 51.3M |
| Dividend Payout Ratio | 88.71% | 31.53% | 34.31% | - | 60.34% | 51.06% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |