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RR Donnelley Misses in Q1
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ShareR.R. Donnelley & Sons Co. (RRD) earned 24 cents per share in the first quarter, excluding items, falling shy of the consensus by 9 cents.
Earnings shrank more than 50% from a profit of 69 cents a year earlier.
Revenue dipped 18% to $2.46 billion, negatively impacted by foreign exchange rates. The decline was also caused by volume decreases across all product lines and price pressure. Gross margin plunged to 23.3% year-over-year from 26%.
The full-year consensus is currently $1.53 per share, down from $1.65 in the last 2 months.
RR Donnelley, a Zacks #4 Rank ("Sell"), is trading on volume of 2.3 million shares, versus the daily average of 2.7 million.
Shares are up almost 2%.
Read the full analyst report on RRD
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