Quad/Graphics, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, reporting condensed consolidated financial results for its printing and marketing services operations.

Key Highlights

  • Total net sales: $586.7 million for the three months ended September 30, 2026, compared to $588.0 million in the same period of 2025, according to the filing.
  • Net earnings: $5.5 million for the third quarter of 2026, down from $10.2 million in Q3 2025, the filing disclosed.
  • Restructuring charges: Restructuring, impairment and transaction-related charges, net, were $19.2 million for the three months ended September 30, 2026, versus $7.3 million in Q3 2025.
  • Operating income: $13.9 million for the three months ended September 30, 2026, compared to $26.4 million in the prior-year quarter, per the filing.
  • Total assets: $1,250.4 million as of September 30, 2026, essentially flat versus $1,252.9 million at December 31, 2025, the balance sheet showed.
  • Share counts as of October 23, 2026: 37,656,888 Class A Common shares and 13,261,983 Class B Common shares outstanding, as stated on the filing's cover page.

Quad/Graphics Q3 2026 Financial Results: Revenue Mix, Costs, and Cash Position

According to the filing, Quad/Graphics reported total net sales of $586.7 million for the three months ended September 30, 2026, split between product sales of $455.1 million and service revenues of $131.6 million. The company, a Wisconsin-incorporated printing and marketing services provider trading on NYSE:QUAD, saw product net sales decline modestly from $459.1 million in Q3 2025, while service revenues increased from $128.9 million. Total cost of sales for the quarter was $458.9 million, up from $454.1 million in the prior-year period.

The filing disclosed that operating income for the quarter fell to $13.9 million from $26.4 million in Q3 2025, largely reflecting the increase in restructuring, impairment and transaction-related charges to $19.2 million from $7.3 million. Selling, general and administrative expenses declined to $76.9 million from $80.9 million. Interest expense for the three months ended September 30, 2026, was $9.7 million, down from $12.8 million in the comparable prior-year quarter. Net earnings were $5.5 million, with diluted earnings per share of $0.11, compared to $0.21 in Q3 2025.

On a nine-month basis, the filing reported total net sales of $1,745.2 million and net earnings of $15.4 million. Cash and cash equivalents stood at $22.8 million as of September 30, 2026, down from $63.3 million at December 31, 2025. Net cash used in operating activities for the nine months ended September 30, 2026, was $62.4 million, while long-term debt increased to $390.2 million from $322.9 million at year-end 2025. Total shareholders' equity was $120.5 million as of September 30, 2026, versus $128.6 million at December 31, 2025.

What Was Disclosed

Quad/Graphics filed its quarterly report for the period ended September 30, 2026, covering condensed consolidated statements of operations, balance sheets, and cash flows. The filing reported lower net earnings and operating income compared to Q3 2025, alongside higher restructuring charges and increased long-term debt.