Filing Flows › Quad/Graphics (QUAD) › Q2 2026 › vs Q2 2025
Quad/Graphics (QUAD) Q2 2026 vs Q2 2025 (year over year)
Quad/Graphics's revenue rose $5.6M (+1%) from $572M in Q2 2025 to $578M in Q2 2026. The biggest changes: Products +$3.8M (+0.8%); Services +$1.8M (+1%). Operating margin 2.6% against 2.4% (+0.2 pts).
Quad/Graphics, Q2 2026: revenue $578M (+1% year over year), operating margin 2.6%, net earnings $3.7M, operating cash flow $52.8M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 2.6% | 2.4% | +0.2 pts |
| Net margin | 0.6% | 0.0% | +0.7 pts |
| Free cash flow margin | 7.1% | 6.0% | +1.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Catalog, publications, retail inserts and directories | $284M | $291M | −$6.8M | -2% |
| Direct mail and other printed products | $162M | $154M | $7.7M | +5% |
| Marketing services and medical services | $69.2M | $73.5M | −$4.3M | -6% |
| Logistics services | $56.5M | $50.4M | $6.1M | +12% |
| Other | $5.2M | $2.3M | $2.9M | +126% |
| Products | $452M | $448M | $3.8M | +0.8% |
| Services | $126M | $124M | $1.8M | +1% |
| Revenue | $578M | $572M | $5.6M | +1% |
| Operating profit | $14.9M | $13.7M | $1.2M | +9% |
| Costs & expenses | $563M | $558M | $4.4M | +0.8% |
| Pre-tax earnings | $6.2M | $200K | $6.0M | 31× |
| Other expense, net | $8.7M | $13.5M | −$4.8M | -36% |
| Cost of revenue | $456M | $448M | $8.0M | +2% |
| SG&A | $79.6M | $80.2M | −$600K | -0.7% |
| Other operating costs | $26.9M | $29.9M | −$3.0M | -10% |
| Net earnings | $3.7M | −$100K | $3.8M | — |
| Income tax | $2.5M | $300K | $2.2M | +733% |
| Depreciation & amortization | $17.2M | $20.7M | −$3.5M | -17% |
| Share-based compensation | $2.9M | $2.2M | $700K | +32% |
| Working capital & other | $29.0M | $24.6M | $4.4M | +18% |
| Operating cash flow | $52.8M | $47.4M | $5.4M | +11% |
| Free cash flow (OCF − capex) | $40.8M | $34.4M | $6.4M | +19% |
| Capital expenditures | $12.0M | $13.0M | −$1.0M | -8% |
Questions
How much did Quad/Graphics's revenue grow year over year in Q2 2026?
Quad/Graphics's revenue rose $5.6M (+1%) from $572M in Q2 2025 to $578M in Q2 2026.
What drove Quad/Graphics's revenue change in Q2 2026?
Products +$3.8M (+0.8%); Services +$1.8M (+1%).