It’s tough being a commercial printer in the digital era. Who needs a Sears catalog when Amazon has an app? Why print a brochure when you can just give prospects a QR code? Yet the 55-year-old, Wisconsin-based Quad—the fourth-largest printer in the US and Canada, according to the 2025 Printing Impressions 300—is growing net earnings and has its sights on net sales growth in 2028. Last year marked “an important milestone” in Quad’s quest to return to growth, according to CFO and Treasurer Tony Staniak. Reaching its goal requires a balancing act—and we aren’t talking just about the books. Staniak said he and his team are tasked with controlling costs in Quad’s declining businesses while investing in those that are growing. “When we look at capex, when we look at M&A that might come into play, we’ve got to make sure that we get our value back from those investments,” Staniak told CFO Brew. This requires finance to “continue to tightly manage the 23% of our business that is facing year-after-year organic decline,” and funding the other 77% “accordingly with investment to drive that [expected] growth.” The journey: Quad turned a profit last year, with net earnings of $27 million versus a net loss of $51 million in 2024. Quad’s turnaround comes “after years of exposure to the secular headwinds in the printing industry,” Barton Crockett, managing director and senior research analyst at Rosenblatt Securities, told us. Keep reading.—AZ |