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Quad/Graphics (QUAD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Quad/Graphics (QUAD) Q3 2026 earnings results →
Q3 2026 Revenue down 0% year over year to $587M · 1¢ of every $1 of revenue kept as net profit · operating margin 2.4%
Quad/Graphics made $587M in Q3 2026 (-0.2% Y/Y): Products $455M, Services $132M. Operating margin 2.4%, net earnings $5.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $586.7M in Q3 2026, roughly flat year over year and up 2% from the previous quarter. Catalog, publications, retail inserts and directories was the largest line at 51% of revenue. Catalog, publications, retail inserts and directories lost $10.7M year over year (down 3%), 823% of the total change.
Operating profit was $13.9M, a 2.4% margin (down 2.1 points year over year). Total costs grew 2% against flat revenue. The fastest-growing cost line was Other operating costs (+39%). Net earnings were $5.5M, down 46% year over year. The effective tax rate was -25.0%.
Operating cash flow was −$21.5M. Non-cash charges added back $17.8M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items used $46.5M. Capital expenditures of $12.3M exceeded it, leaving free cash flow of −$33.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $587M | -0.2% | 2.4% | $5.5M | −$21.5M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $578M | +1% | 2.6% | $3.7M | $52.8M |
| Q1 2026 | 10-Q | Apr 29, 2026 | $581M | -8% | 3.0% | $6.2M | −$93.7M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $588M | -13% | 4.5% | $10.2M | −$8.4M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $572M | -10% | 2.4% | −$100K | $47.4M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $629M | -4% | 3.1% | $5.8M | −$89.0M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Quad/Graphics
Quad is a marketing experience (MX) company that simplifies the complexities of marketing, removing friction from wherever it occurs along the marketing journey. Its results-driven approach enables stronger marketing operations that lead to real, repeatable success for clients. The Company does this through its MX Solutions Suite, which is flexible, scalable and connected. Quad tailors its solutions to each client’s objectives, driving cost efficiencies, improving speed to market, strengthening marketing effectiveness and delivering value on investments.
In its own words, from its 10-K, filed Feb 18, 2026.
Quad/Graphics against its Commercial Printing peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.2% against the peers' median +8%. Operating margin: 2.4% against the peers' median 2.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| QUAD Quad/Graphics | Q3 2026 | $587M | -0.2% | 2.4% |
| CMPR Cimpress | Q1 FY27 | $934M | +8% | 2.8% |
| PMTS CPI Card Group | Q3 2026 | $158M | +15% | 9.9% |
Source: Quad/Graphics 10-Q on SEC EDGAR · CIK 1481792 · Commercial Printing
Guidance and outlook
13F: who owns QUAD and who is buying
More on QUAD
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results · Q1 2025 results