R.R. Donnelley Now Sees FY Sales At Low End Of Forecast; Q2 Results Down

(RTTNews) - R.R. Donnelley & Sons Co. (RRD) Wednesday said it now expects fiscal 2016 net sales at the low end of previous guidance of $11.3 billion to $11.5 billion and adjusted EBITDA margin at high end of previous guidance of 10.4% to 10.6%.

On average, two analysts polled by Thomson Reuters expect sales of $11.35 billion for the year. Analysts' estimates typically exclude special items.

The company said it remains on track to achieve previously provided ranges.

For the second quarter, net loss attributable to common shareholders was $14.5 million, or $0.07 per share, compared to profit of $43.5 million, or $0.21 per share last year. Adjusted attributable net earnings were $71.1 million, or $0.34 per share, compared to $83.6 million, or $0.41 per share last year.

Analysts expected earnings of $0.28 per share.

Second-quarter adjusted EBITDA of $286.7 million, or 10.5% of net sales, compared to $309.2 million, or 11.3% of net sales, in the second quarter of 2015.

Second-quarter net sales of $2.73 billion declined 0.7% from $2.75 billion a year ago. Analysts expected sales of $2.67 billion.

Organic sales decreased 1.6%.