Financial Data and Key Metrics Changes - The company reported revenues of $269 million for Q3 2023, a decline of $20 million or 7% compared to $289 million in the prior year quarter [18] - Gross profit increased by $7 million or 16% year-over-year, with a gross profit percentage of 19% in Q3 2023 compared to 15% in the prior year quarter [36] - Operational EBITDA for Q3 2023 was $12 million, up from $7 million in the prior year quarter [37] - For the nine months ending September 30, 2023, net income was $70 million compared to $19 million in the prior year [39] Business Line Data and Key Metrics Changes - The Advanced Materials and Chemicals group (AMC) is seeing top-line revenue growth and a greater contribution to net profit [25] - The company is expanding capabilities in substrate coating and moving forward with a cGMP facility for test reagents [9][10] - The light blocking area is entering the hospitality segment, while functional printing is ready to manufacture antennas for automotive applications [26][27] Market Data and Key Metrics Changes - The company has faced increased competition from imports of aluminum lithographic printing plates from China and Japan, leading to petitions for relief from unfair trade practices [29] - The company reported a cash increase of $29 million for the nine months ending September 30, 2023, compared to a decrease of $146 million in the prior year [30] Company Strategy and Development Direction - The company is committed to long-term growth initiatives and improving operational efficiency while prioritizing customer profitability [13][46] - Kodak aims to be the last major manufacturer in the plates business, supporting customers in both traditional and digital printing [48] - The company is focused on investing in infrastructure and improvements to enhance customer interactions and operational efficiency [46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges such as inflation, high interest rates, and supply chain issues but emphasized a strong foundation built over the past five years [23] - The company is optimistic about continued cash flow improvements and maintaining compliance with financial covenants [63] - Management recognizes that the business environment will remain difficult with more headwinds on the horizon [30] Other Important Information - The company recorded a loss on early extinguishment of debt of $27 million in Q3 2023 due to early repayment of term loans and convertible notes [15] - Restricted cash at the end of the quarter was $128 million, an increase of $59 million from December 31, 2022 [43] Q&A Session Summary - The company did not hold a formal Q&A session during the call, but the Investor Relations team is available for follow-up inquiries [22]

| --- | --- | --- | --- | |-----------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2023 Earnings Call | | | | | November 8, 2023 | | | | Important factors that could cause actual events or results to differ materially from the forward-looking statements include, among others, the risks and uncertainties described in more detail in Kodak's Annual Report on Form 10-K for the year ended December 31, 2022 under the headings "Business," "Risk ...

Revenue Performance - Consolidated revenues for the three and nine months ended September 30, 2023 were $269 million and $842 million, respectively, representing a decrease of $20 million (7%) and $58 million (6%) compared to the same periods in 2022[185] - Print revenues declined by $28 million (13%) and $84 million (12%) for the three and nine months ended September 30, 2023, accounting for 73% and 74% of total revenues, respectively[186] - Advanced Materials and Chemicals revenue increased by $6 million (10%) and $24 million (14%) for the three and nine months ended September 30, 2023 compared to the prior year periods[186] - Advanced Materials and Chemicals segment revenues increased by $6 million to $64 million in Q3 2023, with Operational EBITDA improving by $1 million to $4 million[228] - Year-to-date Operational EBITDA for Advanced Materials and Chemicals improved by $14 million, driven by price and product mix improvements and higher margins in Industrial Film and Chemicals[232] Acquisitions and Investments - Kodak acquired 100% of Graphic Systems Services, Inc. on May 26, 2023, a provider of web inkjet press transport systems and print-related components, though the acquisition was immaterial to financial results[162] - Kodak acquired 100% of Graphic Systems Services, Inc. (GSS) on May 16, 2023, which represented less than 1% of consolidated revenues and total assets as of September 30, 2023[275] Financial Instruments and Risk Management - The notional amount of Kodak's foreign currency forward contracts open at September 30, 2023 was approximately $270 million, primarily denominated in euros, Chinese renminbi, and Japanese yen[164] - Kodak's exposure to foreign currency exchange rates and interest rates is managed through derivative financial instruments, with no derivatives designated as hedging instruments in 2023[163][165] - The fair value of embedded conversion features derivatives for Convertible Notes was $5 million as of July 21, 2023, calculated using a binomial lattice model[173] Cost Management and Restructuring - Kodak decreased workers' compensation reserves by approximately $5 million and $13 million in the three and nine months ended September 30, 2022, respectively, impacting gross profit and expenses[158] - Kodak implemented pricing actions to mitigate increased labor, material, and distribution costs, including surcharges on plate purchases starting in Q2 2021[190] - Restructuring actions in the first nine months of 2023 are expected to generate $7 million in annual cash savings, with $3 million in SG&A and $4 million in cost of revenues reductions[236] - Kodak recorded $9 million in restructuring charges for the nine months ended September 30, 2023, including $8 million in severance charges and $2 million in inventory write-downs[234] Supply Chain and Operational Challenges - Supply chain disruptions and material shortages led Kodak to increase safety stock, extend lead times, and certify additional sources, enabling the company to largely meet demand[189] - Kodak's cash flows were negatively impacted by supply chain disruptions, labor shortages, and increased costs, but price increases and cost reduction actions positively impacted operations in the first nine months of 2023[243] Insurance and Reimbursements - Kodak received $17 million in insurance reimbursement proceeds in the first nine months of 2023, with $5 million recorded in Other current assets as of December 31, 2022[158] Financing Activities - Net cash from financing activities increased by $42 million for the nine months ended September 30, 2023, driven by $90 million in net proceeds from financing transactions in Q3 2023[263] Inter-company Loans - Outstanding inter-company loans to the U.S. increased to $426 million as of September 30, 2023, with $139 million from Kodak's international finance center[241] Strategic Objectives and Risks - The company's ability to achieve strategic objectives, cash forecasts, and projected growth is contingent on factors such as global economic conditions, supply chain disruptions, and compliance with credit facility covenants[180]

Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Forward-looking statements include statements concerning Kodak's plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, liquidity, investments, financing needs and business trends and other information that is not historical information. When used in this presentation, the words "estimates," "expects," "anticip ...

Eastman Kodak Company (NYSE:KODK) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Anthony Redding - Chief Compliance Officer James Continenza - Executive Chairman and Chief Executive Officer David Bullwinkle - Chief Financial Officer, President, Eastman Business Park and Senior Vice President, Eastman Kodak Company Operator Good day and thank you for standing by. Welcome to the Eastman Kodak Second Quarter 2023 Earnings Conference Call. All participants are in a listen-only m ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: June 30, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-00087 EASTMAN KODAK COMPANY (Exact name of registrant as specified in its charter) NEW JERSEY 16-0417150 (State or other ju ...

Eastman Kodak Company (NYSE:KODK) Q4 2022 Earnings Conference Call March 16, 2023 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer and Director, IR Jim Continenza - Chairman and CEO David Bullwinkle - CFO Conference Call Participants Operator Thank you for standing by and welcome to the Eastman Kodak's Q4 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, today's call is being recorded. I would now like to turn the call over to your host Mr. ...

☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: March 31, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 1-00087 EASTMAN KODAK COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 1-00087 EASTMAN KODAK COMPANY (Exact name of Registrant as specified in its Charter) New Jersey 16-0417150 (State or other jurisdiction o ...

Eastman Kodak Company (NYSE:KODK) Q3 2022 Earnings Conference Call November 7, 2022 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer and Director of Investor Relations Jim Continenza - Chairman and CEO David Bullwinkle - CFO Conference Call Participants Operator Thank you for standing by and welcome to the Eastman Kodak Q3 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, today's call is being recorded. I would now like to turn the conferenc ...