Filing Flows › Quad/Graphics (QUAD) › Q3 2026 › vs Q3 2025
Quad/Graphics (QUAD) Q3 2026 vs Q3 2025 (year over year)
Quad/Graphics's revenue fell $1.3M (-0.2%) from $588M in Q3 2025 to $587M in Q3 2026. The biggest changes: Products −$4.0M (-0.9%); Services +$2.7M (+2%). Operating margin 2.4% against 4.5% (-2.1 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 2.4% | 4.5% | -2.1 pts |
| Net margin | 0.9% | 1.7% | -0.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Catalog, publications, retail inserts and directories | $297M | $308M | −$10.7M | -3% |
| Direct mail and other printed products | $153M | $149M | $3.9M | +3% |
| Marketing services and medical services | $70.0M | $74.4M | −$4.4M | -6% |
| Logistics services | $61.6M | $54.5M | $7.1M | +13% |
| Other | $5.0M | $2.2M | $2.8M | +127% |
| Products | $455M | $459M | −$4.0M | -0.9% |
| Services | $132M | $129M | $2.7M | +2% |
| Revenue | $587M | $588M | −$1.3M | -0.2% |
| Operating profit | $13.9M | $26.4M | −$12.5M | -47% |
| Costs & expenses | $573M | $562M | $11.2M | +2% |
| Pre-tax earnings | $4.4M | $13.2M | −$8.8M | -67% |
| Other expense, net | $9.5M | $13.2M | −$3.7M | -28% |
| Cost of revenue | $459M | $454M | $4.8M | +1% |
| SG&A | $76.9M | $80.9M | −$4.0M | -5% |
| Other operating costs | $37.0M | $26.6M | $10.4M | +39% |
| Income tax benefit | $1.1M | −$3.0M | $4.1M | — |
| Net earnings | $5.5M | $10.2M | −$4.7M | -46% |
| Operating cash sources | $46.5M | $39.2M | $7.3M | +19% |
| Depreciation & amortization | $17.8M | $19.3M | −$1.5M | -8% |
| Share-based compensation | $1.7M | $1.3M | $400K | +31% |
| Cash used in operations | $21.5M | $8.4M | $13.1M | +156% |
| Working capital & other | $46.5M | $39.2M | $7.3M | +19% |
Questions
How much did Quad/Graphics's revenue grow year over year in Q3 2026?
Quad/Graphics's revenue fell $1.3M (-0.2%) from $588M in Q3 2025 to $587M in Q3 2026.
What drove Quad/Graphics's revenue change in Q3 2026?
Products −$4.0M (-0.9%); Services +$2.7M (+2%).