QUAD FY 2016 Earnings Report — Quad/Graphics, Inc. Revenue & Financial Results | Market Cap Arena

Quad/Graphics, Inc.QUAD

FY 2016 Earnings

Reported February 22, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$4.3B	—	$4.7B	—	-7.4%
Op. Income	$209M	—	$145M	—	44.5%
Gross Margin	15.4%	—	12.9%	—	2.5pp
Net Margin	1.0%	—	-13.7%	—	14.8pp
EPS (Diluted)	$0.90	—	$-13.40	—	106.7%
Free Cash Flow	$246M	—	$215M	—	14.6%

Revenue Flow

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.7B
GROSS PROFIT	$667M
R&D Expenses	$9M
Selling & Marketing	$0
General & Administrative	$455M
SG&A Expenses	$449M
Other Expenses	$0
Operating Expenses	$458M
Cost & Expenses	$4.1B
OPERATING INCOME	$209M
Interest Income	$0
Interest Expense	$77M
Other Income/Expenses	-$151M
INCOME BEFORE TAX	$58M
Income Tax Expense	$13M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$277M
EBIT	$137M
EBITDA	$414M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$4.3B
Cost of Revenue	$3.7B
GROSS PROFIT	$667M
R&D Expenses	$9M
Selling & Marketing	$0
General & Administrative	$455M
SG&A Expenses	$449M
Other Expenses	$0
Operating Expenses	$458M
Cost & Expenses	$4.1B
OPERATING INCOME	$209M
Interest Income	$0
Interest Expense	$77M
Other Income/Expenses	-$151M
INCOME BEFORE TAX	$58M
Income Tax Expense	$13M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$277M
EBIT	$137M
EBITDA	$414M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$277M
Stock-Based Compensation	$15M
Deferred Income Tax	-$27M
Other Non-Cash Items	$16M
Change in Working Capital	$26M
OPERATING CASH FLOW	$353M
Capital Expenditure	-$106M
Acquisitions (Net)	-$10M
Purchases of Investments	$26M
Sales/Maturities of Investments	$1M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$84M
Net Debt Issuance	-$228M
Common Stock Repurchased	-$9M
Common Dividends Paid	-$61M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$269M
FREE CASH FLOW	$246M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$9M
Short-Term Investments	$0
Net Receivables	$564M
Inventory	$265M
Other Current Assets	$15M
TOTAL CURRENT ASSETS	$903M
PP&E (Net)	$1.5B
Goodwill	$0
Intangible Assets	$60M
Long-Term Investments	$4M
Tax Assets	$35M
Other Non-Current Assets	$49M
TOTAL NON-CURRENT ASSETS	$1.7B
TOTAL ASSETS	$2.6B
Account Payables	$324M
Short-Term Debt	$85M
Deferred Revenue	-$7M
Other Current Liabilities	$165M
TOTAL CURRENT LIABILITIES	$775M
Long-Term Debt	$1.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$35M
Other Non-Current Liabilities	$315M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$2.1B
Common Stock	$1M
Additional Paid-In Capital	$912M
Retained Earnings	-$206M
Treasury Stock	-$113M
Accum. Other Comp. Income	-$153M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$442M
Minority Interest	$0
TOTAL EQUITY	$442M
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$1.1B
Net Debt	$1.1B