Filing Flows › Quad/Graphics (QUAD) › Q3 2026 › vs Q2 2026
Quad/Graphics (QUAD) Q3 2026 vs Q2 2026 (quarter over quarter)
Quad/Graphics's revenue rose $9.2M (+2%) from $578M in Q2 2026 to $587M in Q3 2026. The biggest changes: Services +$5.9M (+5%); Products +$3.3M (+0.7%). Operating margin 2.4% against 2.6% (-0.2 pts).
Quad/Graphics, Q3 2026: revenue $587M (-0.2% year over year), operating margin 2.4%, net earnings $5.5M, operating cash flow −$21.5M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 2.4% | 2.6% | -0.2 pts |
| Net margin | 0.9% | 0.6% | +0.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Catalog, publications, retail inserts and directories | $297M | $284M | $12.5M | +4% |
| Direct mail and other printed products | $153M | $162M | −$9.0M | -6% |
| Marketing services and medical services | $70.0M | $69.2M | $800K | +1% |
| Logistics services | $61.6M | $56.5M | $5.1M | +9% |
| Other | $5.0M | $5.2M | −$200K | -4% |
| Products | $455M | $452M | $3.3M | +0.7% |
| Services | $132M | $126M | $5.9M | +5% |
| Revenue | $587M | $578M | $9.2M | +2% |
| Operating profit | $13.9M | $14.9M | −$1.0M | -7% |
| Costs & expenses | $573M | $563M | $10.2M | +2% |
| Pre-tax earnings | $4.4M | $6.2M | −$1.8M | -29% |
| Other expense, net | $9.5M | $8.7M | $800K | +9% |
| Cost of revenue | $459M | $456M | $2.8M | +0.6% |
| SG&A | $76.9M | $79.6M | −$2.7M | -3% |
| Other operating costs | $37.0M | $26.9M | $10.1M | +38% |
| Income tax benefit | $1.1M | −$2.5M | $3.6M | — |
| Net earnings | $5.5M | $3.7M | $1.8M | +49% |
| Operating cash sources | $46.5M | −$29.0M | $75.5M | — |
| Depreciation & amortization | $17.8M | $17.2M | $600K | +3% |
| Share-based compensation | $1.7M | $2.9M | −$1.2M | -41% |
| Cash used in operations | $21.5M | −$52.8M | $74.3M | — |
| Working capital & other | $46.5M | −$29.0M | $75.5M | — |
Questions
How much did Quad/Graphics's revenue grow quarter over quarter in Q3 2026?
Quad/Graphics's revenue rose $9.2M (+2%) from $578M in Q2 2026 to $587M in Q3 2026.
What drove Quad/Graphics's revenue change in Q3 2026?
Services +$5.9M (+5%); Products +$3.3M (+0.7%).