RRD Reports First Quarter 2022 Results

*GAAP net sales, including the impact of foreign exchange, increased $139 million or 11.8%; Non-GAAP organic net sales increased 12% primarily from higher demand for most of the Company’s products and services
*GAAP net loss from continuing operations of $58 million includes merger related expenses of $64 million, higher restructuring, impairment and other charges compared to the prior year period, and expenses associated with the systems intrusion identified in December 2021
*Non-GAAP adjusted EBITDA of $110 million increased 44% over the prior year period; related margin increased 190 bps to 8.4%
*Non-GAAP adjusted net income of $33 million was up $27 million versus the prior year period
*Cash used in operating activities during the three months ended March 31, 2022 was $213 million compared to $19 million in the prior year period; current year results reflect working capital investments due to increased volume and inflation in addition to $77 million of merger related payments
*Gross leverage ratio of 3.6x improved 0.3x from March 31, 2021; net leverage ratio of 3.0x improved 0.2x from same period

Net sales in the first quarter were $1.31 billion, up $138.8 million or 11.8% from the first quarter of 2021. While first quarter net sales decreased nearly $3 million due to changes in foreign exchange, the majority of the increase relates to higher client demand for most of the Company’s products and services, and price increases to partially offset inflationary cost increases. The Company experienced significant growth in Supply Chain Management, Commercial Print and Labels products. Organic net sales increased 12.0%.

Loss from operations was $25.5 million in the first quarter of 2022 compared to income from operations of $25.1 million in the first quarter of 2021. The first quarter of 2022 included $64 million of expenses related to the merger, and net restructuring, impairment and other charges of $18.9 million which increased $13.1 million from the prior year period.

Net loss from continuing operations of $58.4 in the first quarter of 2022 compared to $1.7 reported in the first quarter of 2021. The 2022 net loss from continuing operations reflects the increased loss from operations, higher income taxes and loss on debt extinguishment, slightly offset by lower interest expense.
details at: https://investor.rrd.com/news/news-details/2022/RRD-Reports-First-Quarter-2022-Results/default.aspx

Related Posts

First Shutterfly, Inc Facility Gains SGP Certification (whattheythink.com)

The Sustainable Green Printing Partnership (SGP), the leading authority in sustainable printing certifications, announced today, announced today that Shutterfly, Inc. has joined the SGP community by certifying its first facility in Fort Mill, South Carolina. Shutterfly, the leading digital retailer and manufacturing platform for photography and personalized products, plans to continue to certify more of its print locations in the near future. “As a leading manufacturer, we are deeply committed to responsible production in all of our facilities, focusing on reducing our overall footprint while helping make our customers’ life’s experiences unforgettable,” said Dwayne Black, Shutterfly Inc. senior vice president and chief operations officer. “I’m extremely proud of our dedicated teams at Fort Mill who are leading the toward progress on our sustainability goals with SGP third party certification.” As the largest of Shutterfly’s manufacturing facilities, Fort Mill was the logical starting place for SGP certification. The company has consistent sustainability practices throughout its fleet and plans to secure further third-party certification with SGP in additional sites.

Quad/Graphics Delivers In-Magazine Product Sample for Marc Jacobs

Quad/Graphics announced that it has released Marc Jacobs’ newest mascara brand in Quad’s PromoPage™ sampling carrier affixed to a major fashion publication. The publication targeted 50,000 subscribers to receive the full-sized mascara product sample with their home-delivered issue. To see a video of the revolutionary solution, visit http://go.qg.com/publishing-innovation. Product sampling is an important marketing strategy in the United States, accounting for $34 billion in marketing spend in 20161. In addition: • 81% of consumers agreed that experiencing a product increases their comfort level when purchasing2. • 94% of households stated that sampling is a good determining factor of product effectiveness3. • 92% of consumers surveyed reported they bought a product after trying a sample4. Click Read More below for additional information.

EFI demonstrates commitment to a more sustainable future as SGP Patron

The Sustainable Green Printing Partnership (SGP), the leading certification authority in sustainable printing, announced today the support of EFI in its sustainability mission as a gold SGP Patron. EFI joins other patrons, SGP certified facilities, brands, academic institutions, NGOs and associations in the SGP Community. “EFI is proud to support the very important work SGP does in our industry,” said Ken Hanulec, vice president of worldwide marketing, EFI. “With our portfolio of solutions and programs, from digital front end and integrated workflows that significantly reduce material waste to carbon offset reforestation solutions included with single-pass inkjet printers to UV LED superwide-format innovations that significantly reduce energy usage, EFI is a firm believer in SGP’s mission to promote and advance the sustainability of print.”
Back To Top
×Close search
Search