Filing Flows › Quad/Graphics (QUAD) › Q2 2025
Quad/Graphics (QUAD) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Quad/Graphics (QUAD) reported revenue of $572M for the second quarter 2025 (Q2 2025), -10% from a year earlier and -9% from the quarter before. Operating margin was 2.4%, net loss $100K (0.0% of revenue).
Quad/Graphics, Q2 2025: revenue $572M (-10% year over year), operating margin 2.4%, net loss $100K, operating cash flow $47.4M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $572M | -9% | -10% |
| Operating profit | $13.7M | -30% | — |
| Net earnings | −$100K | -102% | — |
| Operating cash flow | $47.4M | — | 12× |
| Free cash flow | $34.4M | — | — |
What changed
Revenue was $571.9M in Q2 2025, down 10% year over year and down 9% 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 $60.3M year over year (down 17%), 97% of the total change.
Operating profit was $13.7M, a 2.4% margin (unchanged year over year). Total costs fell 10% while revenue fell 10%. The quarter ended with a net loss of $100K, after a profit of $5.8M the previous quarter. Net interest and other expense of $13.5M was the main reason.
Operating cash flow was $47.4M (up 1115% year over year). Non-cash charges added back $20.7M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $24.6M. Capital expenditures of $13.0M left free cash flow of $34.4M.
Questions
What was Quad/Graphics' revenue in the second quarter 2025?
Quad/Graphics (QUAD) reported revenue of $572M for the second quarter 2025 (Q2 2025), -10% from a year earlier and -9% from the quarter before.
Was Quad/Graphics profitable in the second quarter 2025?
Operating profit was $13.7M (2.4% of revenue) and net loss $100K.
Source: Quad/Graphics 10-Q on SEC EDGAR.