RRD - R.R. Donnelley plummets 7% post Q1 earnings results

R.R. Donnelley & Sons (RRD) down 7.3% in pre-market trading, after reporting Q1 revenue of $1.17B down 4.1% Y/Y; and adj. income from continuing operations of $37.4M (-25.8% Y/Y).Q1 Gross margin decline by 130 bps to 19.1%; and operating margin declined b 60 bps to 2.1%.Adj. SG&A of total sales was flat at 13%.Adj. EBITDA was $76M (-18.6% Y/Y); and margin declined by 120 bps to y.5%.Cash used in operating activities of $18.9M, improved $61M compared to last year.Company recently announced offering of $400M of 6.125% senior secured notes due 2026 on track to close on April 28.FY21 Guidance:Previously: R.R. Donnelley & Sons EPS misses by $0.07, beats on revenue (April 27)

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R.R. Donnelley plummets 7% post Q1 earnings results