未来发展柯达目前处于业务转型期，其股价波动与行业趋势、成本控制及新材料业务拓展密切相关。若 后续财报或战略公告释放新信息，可能对市场情绪产生影响。 以上内容基于公开资料整理，不构成投资建议。 业绩经营情况最新财务表现：根据2025年第三季度财报（发布于2025年11月6日），公司收入为2.69亿 美元，同比增长3%；运营EBITDA大幅增长2800%至2900万美元，主要受益于先进材料部门业绩提升及 成本优化。但净利润同比下降28%至1300万美元，且目前机构未给出明确评级建议。 业务进展情况业务转型进展：先进材料与化学品部门收入同比增长15%，成为盈利改善的关键驱动力， 而传统印刷部门收入规模虽大但贡献利润有限。公司正通过养老金回收计划强化资产负债表。 经济观察网 截至2026年2月24日，伊士曼柯达（KODK.us）近期未公告明确的未来重大事件（如财报发 布日期或战略会议）。投资者需关注公司官方渠道以获取最新计划。 股票近期走势股价波动：2026年1月8日，柯达股价盘中急速下跌5.00%，报收7.98美元，成交量44万 股，振幅3.93%。同期所属的专业商务服务行业整体微涨0.03%，但个股波动显著。 ...

我所收藏的这本《柯达摄影术——日常摄影必备之参考书》，除书脊有些许脱胶外基本完好。书为32开 本绸布书脊硬皮精装，内页采用铜版凹印工艺印刷，这种网目版的加持使插图浓淡层次清晰且过渡柔 和，无疑是出品考究的摄影读本。然而仔细翻看书中各处，都无从查找出版信息，于是我尝试从书中的 角角落落对其出版时间推算一二。在研究书中所用摄影术语、推荐镜箱以及相关摄影辅助设备的流行时 间时，我在有关镜箱的内容中找到了突破口：在选择镜箱一章中，向偏向选择精巧型镜箱的高级业余摄 影家推荐柯达的"来丁那"镜箱，这也是全书唯一涉及的一款135镜箱，基于此推断《柯达摄影术——日 常摄影必备之参考书》可能不晚于20世纪30年代中期出版发行。书中所提柯达"来丁那"镜箱通常指1931 年投入生产的Kodak Retina系列，该系列采用旁轴取景设计，装配f3.5镜头，快门速度自1秒至1/500秒， 装用一卷软片可拍36张，在当时以便携性与高成像质量受到摄影爱好者青睐。根据该系列镜箱于1935 年、1936年先后在《东方杂志》第三十二卷与《柯达杂志》1936年4月刊所打出的广告，柯达"来丁 那"镜箱引进国内的时间约为20世纪30年代中期。此外，与 ...

Core Insights - Eastman Kodak Company has expanded its pharmaceuticals portfolio by introducing four new regulated products, including KODAK Phosphate Buffered Saline (PBS) and KODAK Water for Injection (WFI), which are now available for order by U.S. research laboratories and biopharma developers [1][2] Group 1: Product Offerings - The new PBS formulations include low endotoxin and RNase/DNase/Protease-free options, complementing an already shipping standard PBS 1X [2] - The WFI products mark Kodak's first offerings in this category, ensuring lot-traceable products built on rigorous quality processes [2] Group 2: Quality and Manufacturing - Kodak emphasizes the dependability of U.S. manufacturing and the ability to provide customized formulations and volumes to customers [3] - The company has a history of manufacturing unregulated key starting materials for leading U.S. and multinational contract development and manufacturing organizations (CDMOs) [3] Group 3: Sustainability and Compliance - The new cGMP-compliant pharmaceuticals production facility in Rochester, N.Y. incorporates energy-efficient lighting and custom process equipment to reduce greenhouse gas emissions [4] - Kodak is pursuing ISO 13485 certification for medical device quality management systems, further enhancing its commitment to quality [4]

Core Viewpoint - Kodak's Charmera, a compact "keychain camera," has gained significant popularity, winning the Best Popular Camera award for 2025, despite its subpar image quality and performance [6][28]. Group 1: Product Features - The Charmera is extremely lightweight at over 30 grams and smaller than an AirPods Pro, making it highly portable [10]. - It features a 1.6 million pixel CMOS sensor, a 35mm lens with an aperture of F2.4, which is inferior to many modern smartphones [10][12]. - The camera includes a color LCD screen, multiple buttons for operation, and seven filters plus four special borders, enhancing its appeal despite its low performance [12][20]. Group 2: Market Performance - The Charmera sold out quickly upon release, with high demand leading to resale prices on platforms like eBay significantly exceeding the original price of $29.99 (approximately 209 yuan) [28][30]. - The camera's success is attributed to its nostalgic appeal and innovative marketing strategies, including a blind box purchasing mechanism that encourages consumer engagement and social media sharing [26][30]. Group 3: Historical Context - Kodak was once a dominant player in the imaging industry, with over half of the world's photos linked to the brand during its peak [24]. - The Charmera is designed to evoke memories of Kodak's past, specifically referencing the Fling 35 camera, which was popular for its compact design and ease of use [25]. Group 4: Consumer Perception - The Charmera is viewed as a novelty item rather than a serious camera, appealing to consumers looking for emotional value rather than high-quality images [33][35]. - While it may not meet the expectations of serious photographers, it serves as a fun accessory or gift, particularly due to its retro design and blind box concept [35][39].

Core Insights - The article highlights recent stock performance and research reports on major companies including Amazon, Toyota, and Intuit, as well as micro-cap stocks Eastman Kodak and Armanino Foods [2][4][7][10][13][16]. Amazon.com, Inc. (AMZN) - Amazon's shares have increased by 3% over the past six months, slightly underperforming the Zacks Internet - Commerce industry which gained 3.8% [4]. - The company is projected to achieve net sales between $206 billion and $213 billion for Q4 2025, with operating income expected to range from $21 billion to $26 billion, indicating operational efficiency gains [4]. - AI integration is enhancing personalization and logistics, contributing to a competitive edge, with expected net sales growth of 10.6% in 2025 compared to 2024 [5]. Toyota Motor Corp. (TM) - Toyota's shares have outperformed the Zacks Automotive - Foreign industry, rising by 20.9% compared to 12.4% [7]. - The company's hybrid vehicle sales, particularly the RAV4, are driving growth, with hybrid variants constituting about half of total sales [7]. - Despite a positive outlook for fiscal 2026, challenges include material costs, foreign exchange rates, and increased capital expenditures [8][9]. Intuit Inc. (INTU) - Intuit's shares have underperformed the Zacks Computer - Software industry, declining by 14.5% compared to a 4% decline in the industry [10]. - The company is facing higher expenses due to increased marketing and engineering investments, impacting profitability [10]. - Intuit's shift to a cloud-based subscription model aims to stabilize revenues, supported by strong performance in its core products, QuickBooks and TurboTax [11][12]. Eastman Kodak Co. (KODK) - Kodak's shares have outperformed the Zacks Electronics - Miscellaneous Products industry, increasing by 44.1% compared to 24.1% [13]. - The company is transitioning from legacy print to advanced manufacturing, with significant growth in its Advanced Materials and Chemicals segment, which saw a 15% year-over-year revenue increase in Q3 2025 [13][14]. - Despite improvements in margins and profitability, risks include declining print volumes and high capital intensity [15]. Armanino Foods of Distinction, Inc. (AMNF) - Armanino Foods' shares have outperformed the Zacks Food - Miscellaneous industry, rising by 42.8% compared to a decline of 8.9% [16]. - The company benefits from a strong position in the U.S. foodservice pesto market, with Q3 FY25 sales increasing by 11% year-over-year to $19.7 million [16]. - Challenges include high customer concentration and rising operating expenses, necessitating disciplined execution to maintain margins [18].

Core Insights - Kodak has completed its pension reversion process, which has resulted in over $1 billion being delivered to strengthen its balance sheet, fully fund a new benefit plan, and accelerate growth [1] Group 1 - The pension reversion process has provided Kodak with significant financial resources, totaling over $1 billion [1] - The funds will be utilized to enhance the company's balance sheet, ensuring greater financial stability [1] - Kodak aims to fully fund a new benefit plan with the proceeds from the pension reversion, indicating a commitment to employee benefits [1] - The company plans to use the additional capital to accelerate growth initiatives, suggesting a focus on expansion and investment in future opportunities [1]

Core Viewpoint - Eastman Kodak Company is demonstrating significant signs of business and balance sheet recovery in 2025, driven by margin expansion, growth opportunities, and a pension reversion event that will reduce leverage, indicating potential upside for investors interested in operational recovery [1]. Financial Performance - Kodak's stock has outperformed the industry over the past six months, with a 29% increase compared to the industry's 23.6% growth [2]. - In Q3 2025, Kodak's consolidated revenues reached $269 million, a modest increase from $261 million a year earlier, while gross profit surged to $68 million from $45 million, raising gross margin to 25% from 17% [4]. - Operational EBITDA for Q3 2025 was reported at $29 million, a significant increase from $1 million in the prior-year quarter, indicating broad-based improvement in the underlying business [5]. Segment Performance - The Advanced Materials & Chemicals (AM&C) segment is emerging as a key growth driver, with revenues rising 15% year over year to $82 million, supported by industrial film, chemicals, and motion picture demand [7]. - Kodak's cGMP pharmaceutical manufacturing facility is now certified, allowing the company to manufacture regulated products, starting with diagnostic reagents, which could offer higher stability and margin potential [8]. - The film business is experiencing a resurgence due to increased capacity and demand, with Kodak investing heavily in film finishing lines and launching a direct distribution brand for still film [9]. Print Division - Although print revenues slightly declined year over year in Q3, the profitability of the print division improved significantly, with Operational EBITDA swinging from negative $9 million to positive $8 million [10]. - Kodak continues to invest in a full print ecosystem, which supports overall cash generation and reduces downside risk for shareholders [11]. Balance Sheet and Future Outlook - Kodak is nearing completion of its U.S. pension reversion process, expecting approximately $600 million in reversion proceeds, which will be central to its deleveraging plan [12]. - The company plans to use a significant portion of the cash to repay term loans, reducing debt to around $200 million and lowering future interest expenses, with expectations to exit 2025 with over $300 million in cash [13]. - Overall, Kodak is positioned for a stronger future with improving profitability, scaling into higher-value markets, and a significant reduction in debt from the pension reversion [14].

Core Viewpoint - Kodak introduces two flagship Wi-Fi smart digital frames, the 10.1-inch RWF-109V and the 14.1-inch RWF-141, designed to bridge the gap between digital photos and physical displays, enhancing the way memories are shared and appreciated [1][10]. Product Features - Both models come with 64GB of internal storage, capable of holding tens of thousands of photos, and utilize the Kodak Digital Frame App for real-time sharing and preservation of memories [4][8]. - The smart frames support simultaneous photo and music playback, along with calendar, clock, and weather features, making them multifunctional home centerpieces [5]. - The RWF-141 features a 1920×1080 Full HD display, while the RWF-109V offers a 1920×1200 high-resolution display, providing bright visuals and responsive touch capabilities [6]. - The RWF-141 has a solid wood frame, while the RWF-109V features a selected metal frame, both designed to complement various interior styles [7]. User Experience - The adjustable stand and automatic brightness adjustment enhance usability, making the frames suitable for all ages [6]. - Users can create pre-set greeting cards through the Kodak Digital Frame App, allowing the frames to serve as thoughtful gifts for various occasions [9]. Brand Philosophy - Kodak emphasizes that technology should carry emotions and memories, ensuring that photos are not just stored but actively displayed and cherished in everyday life [2][11].

Core Insights - Kodak's brand licensing partner kodakfilm.reto announced the upcoming launch of the Kodak Snapic A1 film camera, indicating a continued interest in film photography amidst a retro trend [1][3] - The Snapic A1 camera features a sleek black design, a 25mm three-element glass lens, a small screen, and supports automatic exposure (AE) along with various control options, although the release date and pricing have not yet been disclosed [3] Industry Context - The resurgence of interest in film photography has led Kodak to introduce new products, including two color negative films, Kodacolor 100 and Kodacolor 200, in October of this year, reflecting the growing trend of retro photography [23]

Core Insights - Eastman Kodak Company's shares surged 46.6% following the release of its third-quarter 2025 results, significantly outperforming the S&P 500 index, which declined by 1.2% [1] - The stock has increased by 30.3% over the past month, compared to a 7.6% rise in the broader market, indicating renewed investor confidence in Kodak's financial health and operational improvements [1] Financial Performance - Kodak reported third-quarter 2025 revenues of $269 million, a 3% increase from $261 million in the same period of 2024, driven by a 15% growth in the Advanced Materials & Chemicals (AM&C) segment [2] - The company's gross profit rose 51% to $68 million, improving the gross margin to 25% from 17% year-over-year [3] - GAAP net income decreased by 28% to $13 million due to lower pension income, while adjusted operational EBITDA soared to $29 million from $1 million, highlighting a significant operational rebound [3] Operational & Segment Performance - The operational strength was attributed to improved pricing, higher volumes, and lower input costs, particularly in aluminum [4] - In the AM&C segment, operational EBITDA increased to $16 million from $6 million, supported by strong results in Industrial Film, Chemicals, and Motion Picture products [4] - The Print segment experienced a 3% decline in revenues but achieved a positive operational EBITDA of $8 million, a turnaround from a loss of $9 million a year ago [6] Management Commentary - CEO Jim Continenza described the quarter as Kodak's "best performance in years," emphasizing the company's focus on operational excellence and disciplined balance sheet management [7] - Continenza noted a cultural shift within Kodak, attributing profitability improvements to operational discipline and a customer-first mindset [8] Factors Influencing Financial Results - The significant increase in operational EBITDA, up 2800% year-over-year, was mainly due to cost efficiencies, a favorable product mix, and lower litigation expenses [9] - The decline in net income was linked to a $26 million reduction in non-cash pension income due to changes in the investment strategy for the Kodak Retirement Income Plan [9] Cash Position and Outlook - Kodak ended the quarter with $168 million in cash, an increase from $155 million at the end of June 2025, with improved operating cash flow [10] - Management expressed optimism about continued margin expansion and balance-sheet repair, expecting to achieve a net cash-positive position with pension reversion proceeds of approximately $600 million [10][11] Other Developments - Kodak completed key steps in its pension reversion plan, transferring $1.8 billion in pension obligations and settling $233 million in lump-sum payments, paving the way for expected surplus proceeds [12] - The conversion of Series C preferred stock into common stock eliminated $100 million in preferred obligations, strengthening Kodak's capital structure ahead of 2026 [13] - Overall, the third-quarter results marked a turning point in Kodak's operational and financial stability, with a focus on core competencies in print and chemicals [14]