Revenue Analysis: Q2 2024 revenue was $1.578 billion, down 10.03% YoY but up 5.06% from Q1 2024. The decline in revenues is attributed to continued headwinds in the global print market.
Gross Profit: Gross profit came in at $520 million, showing a notable change with a gross profit margin of 32.95%, improving from the prior quarter's 29.5%. This improvement indicates effective cost management despite revenue drops.
Operating Income: Operating income was reported at $42 million, representing an operating margin of 2.56%. This marks a 51.16% decrease YoY but a significant recovery of 347.06% from the previous quarter, highlighting strong operational improvements.
Net Income: Net income surged to $18 million, equating to an earnings per share (EPS) of $0.12, significantly higher than the $7.86 million net income reported in Q2 2023.
Cash Flow: Operating cash flow for Q2 2024 was robust at $123 million, supported by effective working capital management. Free cash flow reached $115 million, showcasing improved liquidity.