Quad/Graphics, Inc. (NYSE:QUAD) Q1 2024 Earnings Call Transcript

Barton Crockett: Okay. All right. That’s helpful. And then just, I guess, one final thing, you guys were talking about the in-store network opportunity. Is that a CapEx? Do you guys put those screens in and fund that through your CapEx? Or are your partners paying for that essentially, and this is maybe a pass-through cost? And who actually owns those screens? Does the store own them or do you own them? Just trying to understand a little bit better the type of out-of-home network you’re looking to create here.

Joel Quadracci: Yes. There’s going to be a — probably a couple of models, so a mix of that. And we will be funding some of the CapEx and owning the screens for some of them, but get paid for that. And so it’s stuff that the revenue itself help to offset. In other cases, they want to control it, and they want to do it. We have an existing customer who is funding the CapEx for that and has for some time through our acquisition of DART. But it’s not — this is not like buying a printing press. It’s not that as significant as some of the CapEx we do elsewhere.

Barton Crockett: Okay. All right. Glad to hear that on the screens. And great, thank you very much. I appreciate it.

Joel Quadracci: Thank you, Barton.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to management for any closing remarks.

Joel Quadracci: Well, thank you, everyone, for joining today’s call. We look forward to seeing you in future quarters. Have a good day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.