Class A shares of Quad/Graphics ( QUAD ) jumped 17.8% to $3.17 in Wednesday morning trading, after the company posted strong quarterly results and raised its FY 2022 net sales guidance.
QUAD stock had already been on an upward trend recently, having gained nearly 9% in Oct. It is still down 32.8% YTD up to its last closing price of $2.69.
The company after hours on Tuesday reported Q3 non-GAAP EPS of $0.32, compared to $0.18 a year ago. Revenue rose 17.5% Y/Y to $829.9M.
Sussex, Wis.-based QUAD is a commercial printing company that offers marketing strategy and management solutions, branding and creative services.
The company said its quarterly revenue growth was driven by strength in its print segment, increased pricing in response to inflationary cost pressures and higher sales in its international locations.
QUAD also raised its FY net sales guidance and now sees a growth of 8% to 10%, compared to a prior forecast of 3% to 7%.
"We are positioned to achieve higher year-over-year earnings in the fourth quarter as well, despite ongoing challenges from inflationary costs and supply chain disruptions," QUAD CFO Tony Staniak said in the earnings report .
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Quad/Graphics rises ~17% on higher Q3 profit, revenue, raised FY sales guidance