Eastman Kodak 2025 Q2 Earnings Sharp Net Income Drop

Eastman Kodak (KODK) reported its fiscal 2025 Q2 earnings on August 11, 2025, with results undershooting expectations. Revenue declined by 1.5% year-over-year to $263 million, while the company swung to a net loss of $26 million, representing a 200% deterioration compared to the prior-year period. The earnings report highlighted significant operational challenges and negative earnings momentum.

Eastman Kodak reported a 1.5% decline in total revenue for Q2 2025, decreasing to $263 million from $267 million in Q2 2024. The Print segment remained the largest contributor with $178 million in revenue, followed by the Advanced Materials and Chemicals segment, which brought in $75 million. The Brand segment contributed $6 million, while all other segments combined accounted for $4 million. These figures reflect the company’s reliance on core print operations, despite softness across other business lines.

The earnings performance deteriorated sharply, with the company reporting a loss of $0.36 per share in Q2 2025 compared to a profit of $0.25 per share in the same period last year—a 244% negative change in earnings per share. At the net income level, Kodak recorded a loss of $26 million for the quarter, a 200% decline from the $26 million net income in Q2 2024. These results indicate a significant reversal in profitability.

Following the earnings release, KODK shares experienced mixed performance over the following 30 days, with the post-earnings strategy delivering a negative return of -10.16%. This underperformed the benchmark return of 45.70%, resulting in an excess return of -55.86%. The strategy was marked by high volatility (62.19%), no maximum drawdown, and a Sharpe ratio of -0.06, signaling high risk and poor risk-adjusted returns for investors.

In his commentary, CEO Jim Continenza emphasized Kodak’s focus on long-term execution amid global economic uncertainties. He highlighted progress in deleveraging and balance sheet improvements and underscored growth in the Advanced Materials and Chemicals segment. Continenza also emphasized the company’s U.S. manufacturing advantages, including being the only U.S. lithographic plate manufacturer and the development of a cGMP pharmaceutical facility in Rochester, NY.

The company did not provide specific forward-looking guidance for revenue, EPS, or CAPEX during the earnings call. Instead, the leadership team focused on ongoing operational progress and financial strategies, including the anticipated $500 million pension reversion, which is expected to support growth and reduce debt.

Within the three weeks following the earnings report, the most-discussed non-earnings-related news centered around geopolitical developments and corporate governance. Notably, U.S. President Donald Trump nominated Anthony for a role at the Bureau of Labor Statistics. In the technology sector, discussions emerged around the potential for 2026 to become the year of mass production for embodied intelligence applications. Additionally, the Korean government announced a broad amnesty covering 83.6687 million people, signaling a major shift in penal policies.