Filing Flows › Quad/Graphics (QUAD) › Q1 2025
Quad/Graphics (QUAD) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Quad/Graphics (QUAD) reported revenue of $629M for the first quarter 2025 (Q1 2025), -4% from a year earlier. Operating margin was 3.1%, net earnings $5.8M (0.9% of revenue).
Quad/Graphics, Q1 2025: revenue $629M (-4% year over year), operating margin 3.1%, net earnings $5.8M, operating cash flow −$89.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $629M | — | -4% |
| Operating profit | $19.6M | — | — |
| Net earnings | $5.8M | — | — |
| Operating cash flow | −$89.0M | — | — |
What changed
Revenue was $629.4M in Q1 2025, down 4% year over year. Catalog, publications, retail inserts and directories was the largest line at 53% of revenue. Catalog, publications, retail inserts and directories lost $26.3M year over year (down 7%), 104% of the total change.
Operating profit was $19.6M, a 3.1% margin (up 4.7 points year over year). Total costs fell 8% while revenue fell 4%. Net earnings were $5.8M. The effective tax rate was 14.7%.
Operating cash flow was −$89.0M. Non-cash charges added back $19.7M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $116.1M. Capital expenditures of $11.3M exceeded it, leaving free cash flow of −$100.3M.
Questions
What was Quad/Graphics' revenue in the first quarter 2025?
Quad/Graphics (QUAD) reported revenue of $629M for the first quarter 2025 (Q1 2025), -4% from a year earlier.
Was Quad/Graphics profitable in the first quarter 2025?
Operating profit was $19.6M (3.1% of revenue) and net earnings $5.8M.
Source: Quad/Graphics 10-Q on SEC EDGAR.