R.R. Donnelley Updates Full-year Guidance

(RTTNews) - R.R. Donnelley & Sons Company (RRD) announced the company now expects its full year 2015: net sales in the range of $11.2 to $11.4 billion compared to prior outlook of $11.4 to $11.6 billion; and non-GAAP adjusted EBITDA margin in the range of 10.6% to 10.8% compared to prior outlook of 10.5% to 10.7%. The company continues to expect free cash flow in the range of $400 million to $500 million, unchanged from previous guidance.

Thomas J. Quinlan III, RR Donnelley's CEO, said: Our updated guidance assumes the fourth-quarter demand environment will be similar to what we've experienced throughout the year, and the improvement in margin guidance is reflective of our continuing to manage the business to create value for all of our stakeholders."

For the third quarter of 2015, net sales were $2.8 billion, down 4.4% from the third quarter of 2014; organic net sales declined 3.1%. Non-GAAP adjusted EBITDA margin in the third quarter of 2015 was 10.8%, or 20 basis points higher than in the third quarter of 2014, as productivity improvements more than offset volume declines and price pressure.