What does Eastman Kodak do and what are its main business segments?

What is Eastman Kodak's gross profit margin?

What were the key takeaways from Eastman Kodak’s earnings call?

What is Eastman Kodak's latest dividend and current dividend yield?

Did Eastman Kodak beat or miss consensus estimates last quarter?

What guidance did Eastman Kodak's management provide for the next earnings period?

What is the revenue and EPS growth rate for Eastman Kodak year over year?

What factors drove the changes in Eastman Kodak's revenue and profit?

- **Revenue & Profit Surge**: Q3 revenue up 3% to $269M, gross profit jumps to 25% (vs. 17% last year).
- **$600M Pension Windfall**: Proceeds to reduce debt and create net cash positive position.
- **Strategic Wins**: Pharmaceutical facility operational, film production capacity doubled, printing business expanded with new digital presses.
- **Debt-Free Future**: Term debt reduced to $200M, eliminating going concern risks.
- **Cash Flow Strength**: $168M cash balance, operational EBITDA up 103% YoY to $29M.

**【Management Opening Remarks】**
- Anthony Redding introduced the call, noting the filing of the Q3 2025 10-Q and the availability of the presentation on the Investor Center.
- Forward-looking statements and non-GAAP measures were disclaimed, with reconciliations provided in the release.
- Jim Continenza (CEO) and David Bullwinkle (CFO) presented the results, with no formal Q&A session.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue of $269 million, up 3% YoY ($8 million increase), driven by Advanced Materials & Chemicals (15% YoY growth).
- **Gross Profit Expansion**: Gross profit rose to $68 million (25% margin) vs. $45 million (17% margin) in Q3 2024, due to pricing, volume, and lower costs.
- **Pension Reversion**: Expected $600 million from U.S. pension reversion ($450M cash, $150M hedge funds), enabling debt reduction and net cash positive status.
- **Strategic Initiatives**: 
  - Pharmaceutical facility now certified for regulated products (e.g., diagnostic reagents).
  - Film production capacity doubled, with launch of direct distribution brand to stabilize supply.
  - Printing business expanded with new digital presses and workflow software.
- **Balance Sheet Strength**: Term debt reduction to $200 million post-reversion, improving cash flow and operational flexibility.

**【CFO Financial Commentary】**
- **Key Financial Metrics**: 
  - Operational EBITDA: $29 million (up $28 million YoY).
  - Cash Balance: $168 million (up $13 million QoQ).
  - Pension Reversion Proceeds: $600 million ($450M cash, $150M hedge funds).
- **Pension Process Update**: 
  - $1.8 billion annuity obligations transferred to Metropolitan Tower Life.
  - $233 million lump sum payments made to participants.
  - Remaining $15 million missing participant liabilities to PBGC.
- **Debt Compliance**: All covenants met, with no going concern disclosure in Q3 10-Q.

**【Q&A Highlights】**
- **Pension Reversion Clarity**: Management emphasized the process's completion and its impact on balance sheet strength.
- **Operational Efficiency**: Focus on cost control and margin improvement, with no material tax impact on reversion proceeds.
- **Growth Drivers**: Advanced Materials & Chemicals and film production identified as key growth engines.


Eastman Kodak Company(KODK)-20251107-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

KODK

KODK fundamentals

You can ask Aime