Eastman Kodak shares rise 10.60% premarket after Q4 revenue jumps 9% to $290M, driven by pension reversion proceeds and improved profitability.

Eastman Kodak surged 10.60% in premarket trading following its Q4 2025 earnings report, which highlighted a 9% year-over-year revenue increase to $290 million, a 31% rise in gross profit, and a 144% jump in operational EBITDA. The company’s pension reversion generated $1.023 billion in proceeds, enabling $312 million in debt reduction and strengthening its balance sheet with $337 million in cash. Despite a GAAP net loss of $108 million—driven by a $153 million excise tax on pension reversion—operational metrics and improved liquidity boosted investor confidence. Management emphasized strategic investments in pharma, AI-driven commercial print, and brand licensing, while the debt reduction and annual interest savings of $40 million underscored Kodak’s renewed financial flexibility. The positive reaction aligns with the earnings call’s emphasis on operational execution and a stronger capital structure, despite one-time pension costs.