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Quad/Graphics collapses on Q3 miss, reduced guidance

  • Quad/Graphics (QUAD -17.1%) shares are collapsing after the company whiffed in Q3 and pared guidance.
  • Management sees full-year revenue of $4.8B, vs. a previous range of 4.8B-$5.0B and a consensus of $4.99B. Adjusted EBITDA guidance is $580M, revised from $580M-$610M.
  • CEO Joel Quadracci blamed results on "ongoing industry pressures, economic and political challenges in Latin America and a slower-than-expected turnaround in the underlying Vertis business."
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