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Kodak Q1 2025 Earnings Report
Eastman Kodak Company reported its financial results for the first quarter ended March 31, 2025.
Key Takeaways
Eastman Kodak Company experienced a slight decrease in total revenues in Q1 2025 compared to Q1 2024, primarily due to lower Print segment volumes and unfavorable foreign currency fluctuations, partially offset by improvements in Advanced Materials and Chemicals. The company reported a net loss for the quarter, a significant decline from net earnings in the prior year period.
Total revenues decreased by $2 million (1%) to $247 million in Q1 2025 compared to $249 million in Q1 2024.
The Print segment revenues declined by $17 million (9%) to $165 million, while Advanced Materials and Chemicals revenues increased by $15 million (25%) to $74 million.
The company reported a net loss of $7 million in Q1 2025, a significant drop from net earnings of $32 million in Q1 2024.
Diluted net loss per share was $0.12 in Q1 2025, compared to diluted net earnings per share of $0.30 in Q1 2024.
Kodak
Kodak
Kodak Revenue by Segment
Revenue by Segment
Print Revenue
CapyFin.comAdvanced Materials & Chemicals Revenue
CapyFin.comBrand Revenue
CapyFin.com Forward Guidance
Kodak's plans to return to sustainable positive cash flow include generating profitable revenues, implementing effective working capital utilization, reducing operating expenses, and investing in growth opportunities. However, the company faces challenges related to debt obligations, supply chain disruptions, and global economic uncertainties.
Positive Outlook
- Generating profitable revenues through continued pricing actions and customer-focused initiatives.
- Implementing effective working capital utilization and reducing operating expenses.
- Continuing to simplify the organizational structure and investing in IT systems to drive operational efficiencies.
- Effectively managing world-wide cash through intercompany loans, distributions, or other mechanisms.
- Generating cash from selling and leasing underutilized assets or through new licensing opportunities and implementing ways to reduce cash collateral needs.
Challenges Ahead
- Not extended or refinanced existing Series B and Series C Preferred Stock past their current maturities of May 28, 2026.
- Debt coming due on May 22, 2026, with no committed financing or available liquidity to meet such obligations.
- Ability to adequately fund existing preferred stock and debt obligations is dependent on obtaining sufficient proceeds from KRIP settlement.
- Cash flows negatively impacted by volume declines, higher manufacturing costs, and increased labor, material, and distribution costs.
- Economic uncertainties surrounding current inflationary environment and other global events, including rising costs of labor, commodity, and distribution, and the ability to secure raw materials and components.
Revenue & Expenses
Visualization of income flow from segment revenue to net income