RR Donnelley Inc. (NASDAQ: RRD) stock plunged by 0.15% at last close whereas the RRD stock price gains by 37.88% in the pre-market trading session. RRD is a prominent developer of multichannel business communications and marketing solutions around the world.
RRD stock’ Financial Highlights
RR Donnelley announced its financial results for the third quarter of 2021.
- In the third quarter of 2021, net sales were $1.27 billion, an increase from $76.5 million or 6.4 percent in the same period the previous year.
- Net sales from organic sources climbed by 5.5 percent. Compared to the third quarter of 2020, the Business Services segment was has increased by 7.1 percent GAAP and 5.9 percent non-GAAP organically, while the Marketing Solutions segment was up 3.8 percent both GAAP and non-GAAP organically.
- In the third quarter of 2021, operating income totaled $73.1 million, relative to $15.9 million in the third quarter of 2020.
- The non-GAAP adjusted income from operations of $81.5 million was up $7.6 million from the same quarter the previous year. Higher net sales and continuous cost-cutting initiatives accounted for the majority of the rise.
- In the third quarter of 2021, earnings per share from continuing operations attributable to common stockholders were $0.38, relative to a loss per share of $0.13 in the same quarter the previous year.
Dan Knotts, RRD President, and Chief Executive Officer commented,
Through the ongoing implementation of their well-defined key strategies, RRD had a very solid quarter. They experienced an organic sales increase for the second quarter in a row, owing to stronger client demand and larger volumes in all strategic product categories. For the second quarter in a row, the adjusted income from operations exceeded their pre-pandemic earnings. Considering supply chain issues and inflation, they were still able to improve operating margins through a combination of organic sales growth and continuous efficient cost management.
Moreover,
As an outcome of the pending transaction, the Company is revoking its previous financial outlook for 2021 and has halted all further updates.
