RRD - R.R. Donnelley & Sons stock plunges on Q3 earnings miss

R.R. Donnelley ([[RRD]] -4.3%) reports Q3 revenue of $1.19B, decreasing 15.9% Y/Y, misses consensus by $70M.The decrease in revenue includes a $62.9M reduction from the previous dispositions of its Global Document Solutions and Chile businesses.GAAP net sales decreased 15.9%; non-GAAP organic net sales decreased 12.1%Income from operations was $15.9M compared to income from operations of $71M in Q3 2019.Operating cash flow including discontinued operations, increased $40.1M.As of September 30, 2020, cash on hand was $414.8M and total debt outstanding was $2B.GAAP EPS loss of $0.13 vs. EPS loss of $0.10 last year; non-GAAP EPS $0.32.2020 results were negatively impacted by the significantly higher restructuring and other charges, mostly offset by a reduction in income taxes and interest expense.The company expects to close the sale of its Logistics DLS Worldwide business for $225M.Q4 outlook: Net sales expected to be unfavorable to the prior year between $200M-275M, or 12-18% organically; Interest expense expected to be lower than Q3.Previously: R.R. Donnelley &

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R.R. Donnelley & Sons stock plunges on Q3 earnings miss