R.R. Donnelley & Sons Company (NASDAQ:RRD) Q3 2018 Earnings Conference Call Transcript
Oct 31, 2018 • 11:00 am ET
Welcome to the RR Donnelley Third Quarter 2018 Results Conference Call. My name is Paul, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. After remarks from company representative, we will conduct a question-and-answer session. (Operator Instructions) Please note that this call is being recorded.
I will now turn the call over to Brian Feeney, RR Donnelley's SVP of IR. Please go ahead.
Thank you, Paul, and thank you everyone for joining RRD's Third Quarter 2018 Results Conference Call. Joining me on today's call are Dan Knotts, RRD's President and CEO, and Terry Peterson, our CFO. At the conclusion of today's prepared remarks, Dan, Terry and I will take questions.
As a reminder, we have prepared supplemental slides for today's call, which can be found on the Investors section of our website at www.rrd.com. As we review third quarter results on today's call, we will reference numbers from the supplemental slides for those participants who wish to follow along by advancing the slides themselves. The information that will be reviewed during this call is addressed in more detail in our third quarter press release, a copy of which is posted on the Investors section of our website at rrd.com. This information was also furnished to the SEC on the Form 8-K we filed yesterday.
(Forward-looking Cautionary Statements)
Further, we will discuss non-GAAP financial information. We believe the presentation of non-GAAP results provide investors with useful supplementary information concerning the company's ongoing operations and is an appropriate way to evaluate the company's performance. They are provided for informational purposes only. Any references to non-GAAP financial measures are reconciled to the comparable GAAP financial measures in our press release and the Investors section of our website under the Presentation tab.
I will now turn the call over to Dan.
Great. Thanks, Brian. Good morning, everyone, and thank you for joining us. On our call today, I'll provide an overview of our financial performance for the quarter and discuss the debt refinancing we recently completed to improve our debt maturity profile, followed by an update on our segment performance. And before turning the call over to Terry, I'd also like to share a number of awards we received, recognizing our focus on innovation and supplier excellence.
Starting with slide three, our third quarter performance was in line with our expectations as we continued to help our clients create better connections with their customers through their marketing and business communications. I'm pleased to report that we delivered our fourth consecutive quarter of organic sales growth. We improved both our adjusted income from operations and operating margin with meaningful progress in executing our cost reduction plans. And we increased our operating cash flow.
On the top line, our organic sales increased 1.8%. And similar to our last several quarters, our organic growth spanned multiple product lines and multiple geographies. Six of our 11 product and service categories delivered year-over-year growth in the quarter, reflecting our broad-based