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Quad/Graphics, Inc. (QUAD) CEO Joel Quadracci on Q2 2021 Results - Earnings Call Transcript

Aug. 04, 2021 2:32 PM ETQuad/Graphics, Inc. (QUAD)
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Quad/Graphics, Inc. (QUAD) Q2 2021 Earnings Conference Call August 4, 2021 10:00 AM ET

Company Participants

Katie Krebsbach - Investor Relations Lead

Joel Quadracci - Chairman, President & Chief Executive Officer

Dave Honan - Executive Vice President & Chief Financial Officer


Good morning, and welcome to the Quad's Second Quarter 2021 Earnings Conference Call for Analysts and Investors. [Operator Instructions]

I would now like to turn the conference over to the Quad management team. Please go ahead.

Katie Krebsbach

Thank you, operator, and good morning, everyone. With me today are Joel Quadracci, Quad's Chairman, President and Chief Executive Officer; and Dave Honan, Quad's Executive Vice President and Chief Financial Officer. Joel will lead off today's call with a business update, and Dave will follow with a summary of Quad's second quarter and year-to-date 2021 financial results, followed by Q&A.

I would like to remind everyone that this call is being webcast and forward-looking statements are subject to Safe Harbor provisions as outlined in our quarterly news release and in today's slide presentation on Slide 2. Quad's financial results are prepared in accordance with generally accepted accounting principles. However, this presentation also contains non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, free cash flow, and debt leverage ratio. We have included in the slide presentation reconciliations of these non-GAAP financial measures to GAAP financial measures. Finally, a replay of the call and the slide presentation will be available on the Investors section of quad.com shortly after our call concludes today.

I will now hand over the call to Joel.

Joel Quadracci

Thank you, Katie, and good morning. We are very pleased with our second quarter operating and financial performance, which exceeded our expectations. Net sales increased 19%, driven by higher print, logistics, and agency solution sales, which rebounded compared to the pandemic period in Q2 of 2020. Our services

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