Financial Performance - Q3 2022 - Consolidated revenue increased by $2 million, a 1% increase, reaching $289 million compared to Q3 2021[13] - Adjusted consolidated revenue, accounting for unfavorable foreign exchange impacts, increased by $24 million, an 8% increase, reaching $311 million[13] - Net income decreased by $6 million, resulting in $2 million[13] - Adjusted net loss was $3 million, a decrease of $8 million[13] - Operational EBITDA increased by $1 million, resulting in $7 million[13] - Adjusted Operational EBITDA, accounting for unfavorable foreign exchange impacts, increased by $3 million, resulting in $8 million[13] Financial Performance - Year-To-Date 2022 - Consolidated revenue increased by $57 million, reaching $900 million compared to YTD 2021[15] - Adjusted consolidated revenue, accounting for unfavorable foreign exchange impacts, increased by $108 million, reaching $951 million[15] - Net income decreased by $11 million, resulting in $19 million[15] - Adjusted net income decreased by $12 million, resulting in $5 million[15] - Operational EBITDA decreased by $8 million, resulting in $11 million[15] - Adjusted Operational EBITDA, accounting for unfavorable foreign exchange impacts, decreased by $7 million, resulting in $8 million[15] Business Strategy and Investments - The company exercised its right to draw an additional $50 million from the Term Loan Credit Agreement, partially used to fund an investment in Wildcat Discovery Technologies, Inc[9] - The company's long-term strategy continues to focus on core competencies in print and advanced materials and chemicals[11]

[Part I. Financial Information](index=3&type=section&id=Part%20I.%E2%80%94Financial%20Information) This section presents the company's unaudited interim financial statements and management's analysis [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents Eastman Kodak Company's unaudited consolidated interim financial statements, including key operational and financial position data [Consolidated Statement of Operations](index=3&type=section&id=Consolidated%20Statement%20of%20Operations%20%28Unaudited%29) Total revenues increased to **$900 million** for the nine months ended September 30, 2022, while net income decreased to **$19 million** Consolidated Statement of Operations Highlights (in millions) | Metric | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2022 | Three Months Ended Sep 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $900 | $843 | $289 | $287 | | **Gross Profit** | $127 | $131 | $43 | $43 | | **Loss from Operations** | $(25) | $(19) | $(7) | $(9) | | **Net Income** | $19 | $30 | $2 | $8 | | **Diluted EPS** | $0.11 | $0.39 | $(0.01) | $0.06 | [Consolidated Statement of Financial Position](index=5&type=section&id=Consolidated%20Statement%20of%20Financial%20Position%20%28Unaudited%29) Total assets increased to **$2.26 billion** as of September 30, 2022, while cash and cash equivalents decreased to **$216 million** Key Balance Sheet Items (in millions) | Account | Sep 30, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $216 | $362 | | **Inventories, net** | $273 | $219 | | **Total current assets** | $699 | $807 | | **Total Assets** | $2,259 | $2,171 | | **Total current liabilities** | $297 | $309 | | **Long-term debt, net** | $312 | $253 | | **Total Liabilities** | $1,157 | $1,194 | | **Total shareholders' equity** | $901 | $781 | [Consolidated Statement of Cash Flows](index=6&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows%20%28Unaudited%29) Net cash used in operating activities significantly increased to **$130 million** for the nine months ended September 30, 2022 Cash Flow Summary (in millions) | Activity | Nine Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2021 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(130) | $(33) | | **Net cash used in investing activities** | $(44) | $(9) | | **Net cash provided by financing activities** | $45 | $240 | | **Net (decrease) increase in cash** | $(143) | $195 | | **Cash, cash equivalents and restricted cash, end of period** | $280 | $451 | [Notes to Financial Statements](index=9&type=section&id=Notes%20to%20Financial%20Statements%20%28Unaudited%29) The notes provide detailed explanations of financial statements, covering investments, debt, segment revenue, and legal contingencies - On July 13, 2022, Kodak invested **$25 million** to acquire a minority preferred equity interest in Wildcat Discovery Technologies, Inc., a private company developing new battery materials. Kodak will also provide coating and engineering services to Wildcat[26](index=26&type=chunk) - The company is involved in a consolidated securities class action lawsuit related to the 2020 DFC loan announcement. The lawsuit was dismissed with prejudice on September 28, 2022, but the plaintiffs filed a notice of appeal on October 27, 2022[59](index=59&type=chunk) - As of September 30, 2022, the company had approximately **$60 million** of unrecognized revenue from unsatisfied performance obligations, with about **30%** expected to be recognized in 2023[98](index=98&type=chunk) Revenue by Segment - Nine Months Ended Sep 30 (in millions) | Segment | 2022 Revenue | 2021 Revenue | | :--- | :--- | :--- | | Traditional Printing | $535 | $483 | | Digital Printing | $169 | $184 | | Advanced Materials and Chemicals | $173 | $155 | | Brand | $11 | $10 | | All Other | $12 | $11 | | **Consolidated Total** | **$900** | **$843** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting revenue growth, global economic challenges, strategic focus areas, and liquidity position [Executive Overview and Global Impacts](index=35&type=section&id=Executive%20Overview%20and%20Global%20Impacts) Consolidated revenues increased by **7%** to **$900 million** despite unfavorable currency impacts and global economic challenges - For the nine months ended Sep 30, 2022, revenues improved by **$57 million (7%)** year-over-year, but were unfavorably impacted by currency fluctuations of **$51 million**[150](index=150&type=chunk) - Kodak is experiencing supply chain disruptions, shortages in materials and labor, and increased costs. It has implemented mitigation measures like increasing safety stock and pricing actions[152](index=152&type=chunk)[153](index=153&type=chunk) - The war in Ukraine has disrupted the company's Russian subsidiary, which is being wound down. It has also caused worldwide supply constraints for aluminum and electronic components and increased energy and transportation costs[156](index=156&type=chunk)[157](index=157&type=chunk) [Company Strategy](index=36&type=section&id=Company%20Strategy) Kodak's strategy focuses on core print and advanced materials, aiming for revenue growth and expansion into new markets like EV battery materials - Strategic focus areas include: investing in print and advanced materials; growing revenue through customer focus and market share gains; promoting film use and expanding applications for film and chemicals; driving cost reductions through process streamlining[161](index=161&type=chunk) - New initiatives in Advanced Materials and Chemicals leverage expertise in coating and chemistry for applications in: EV/Energy Storage Battery Materials (in collaboration with Wildcat); Light-Blocking Technology for fabrics; Transparent Antennas using copper micro-wire technologies; Reagent Manufacturing for healthcare applications[163](index=163&type=chunk) [Reportable Segments Analysis](index=40&type=section&id=Reportable%20Segments%20Analysis) Traditional Printing revenue grew **11%** to **$535 million**, while Digital Printing revenue declined **8%** to **$169 million** for the nine months ended September 30, 2022 Segment Performance - Nine Months Ended Sep 30, 2022 vs 2021 (in millions) | Segment | Revenue 2022 | Revenue 2021 | Operational EBITDA 2022 | Operational EBITDA 2021 | | :--- | :--- | :--- | :--- | :--- | | **Traditional Printing** | $535 | $483 | $15 | $16 | | **Digital Printing** | $169 | $184 | $(15) | $(2) | | **Advanced Materials & Chemicals** | $173 | $155 | $1 | $(3) | | **Brand** | $11 | $10 | $10 | $8 | - Traditional Printing's performance was characterized by significant pricing improvements (**$113 million** YTD) being largely offset by higher aluminum costs (**$64 million** YTD) and other manufacturing cost increases (**$47 million** YTD)[185](index=185&type=chunk) - Digital Printing's Operational EBITDA declined by **$13 million** YTD, primarily due to increased manufacturing costs (**$9 million**), higher R&D spending (**$2 million**), and unfavorable foreign currency (**$4 million**)[190](index=190&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) Cash balance decreased to **$216 million** at Q3 2022, with **$130 million** net cash used in operations, while liquidity is deemed adequate for the next 12 months Cash Position (in millions) | Date | Cash and Cash Equivalents | Restricted Cash | Total | | :--- | :--- | :--- | :--- | | **Sep 30, 2022** | $216 | $64 | $280 | | **Dec 31, 2021** | $362 | $61 | $423 | - Net cash used in operating activities increased by **$97 million** year-over-year, primarily due to increased investment in inventory to ensure customer supply[218](index=218&type=chunk) - The company must maintain Minimum Liquidity of at least **$80 million** (was **$143 million** at Sep 30, 2022) and Excess Availability above **12.5%** of lender commitments under its ABL Credit Agreement (was **$30 million** at Sep 30, 2022)[207](index=207&type=chunk)[211](index=211&type=chunk) - The Amended ABL Credit Agreement matures on February 26, 2024. The company's ability to fund long-term requirements depends on amending, refinancing, or extending this agreement[212](index=212&type=chunk)[215](index=215&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=48&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks, primarily from foreign currency exchange rate fluctuations due to its global operations - The company is exposed to market risk from fluctuations in foreign currency exchange rates due to its extensive international business operations[229](index=229&type=chunk) [Controls and Procedures](index=48&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal controls - Management concluded that as of September 30, 2022, the company's disclosure controls and procedures were effective[230](index=230&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[231](index=231&type=chunk) [Part II. Other Information](index=48&type=section&id=Part%20II.%20%E2%80%94Other%20Information) This section provides additional information, including legal proceedings, risk factors, equity sales, and exhibits [Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 8 of the financial statements for details on the company's legal proceedings - For information on legal proceedings, the report refers to Note 8, "Commitments and Contingencies" in the financial statements[233](index=233&type=chunk) [Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) This section refers to the 2021 Form 10-K for a detailed discussion of the company's risk factors - The report refers to the Risk Factors section of the 2021 Form 10-K for a detailed discussion of risks affecting the company[234](index=234&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred in Q3 2022, though the company purchased **52,552** shares for tax withholding obligations - There were no sales of unregistered securities in Q3 2022[235](index=235&type=chunk) Issuer Purchases of Equity Securities (Q3 2022) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | **July 2022** | 33,065 | $4.96 | | **August 2022** | 9,552 | $6.37 | | **September 2022** | 9,935 | $5.48 | | **Total** | **52,552** | **$5.31** | - Share purchases were made to satisfy tax withholding obligations for employee restricted stock units and not as part of a formal repurchase program[236](index=236&type=chunk)[237](index=237&type=chunk) [Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including certifications and XBRL data files - This section lists exhibits filed with the report, including certifications from the CEO and CFO (Exhibits 31.1, 31.2, 32.1, 32.2) and XBRL data files[238](index=238&type=chunk)[240](index=240&type=chunk)

Eastman Kodak Company (NYSE:KODK) Q2 2022 Earnings Conference Call August 9, 2022 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer and Director, Investor Relations Jim Continenza - Chief Executive Officer & Chairman David Bullwinkle - Chief Financial Officer Conference Call Participants Operator Thank you for standing by and welcome to the Eastman Kodak Q2 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today's conference call is ...

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, 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 of inco ...

| --- | --- | --- | |--------------------|-------|-------| | | | | | | | | | | | | | | | | | First Quarter 2022 | | | | Earnings Call | | | | May 10, 2022 | | | Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995. Forw ...

Eastman Kodak Company (NYSE:KODK) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer and Director, IR Jim Continenza - Executive Chairman and CEO David Bullwinkle - CFO Conference Call Participants Operator Good afternoon. Thank you for attending today's Eastman Kodak First Quarter 2022 Earnings Call. My name is Bethany, and I will be your moderator for today's call. [Operator Instructions] I would now like to pass the conference over to our host, Pau ...

Eastman Kodak Company (NYSE:KODK) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer and Director, IR Jim Continenza - Executive Chairman and CEO David Bullwinkle - CFO Conference Call Participants Operator Good afternoon. Thank you for attending today's Eastman Kodak First Quarter 2022 Earnings Call. My name is Bethany, and I will be your moderator for today's call. [Operator Instructions] I would now like to pass the conference over to our host, Pau ...

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: March 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 of inc ...

Eastman Kodak Company (NYSE:KODK) Q4 2021 Results Conference Call March 15, 2022 5:00 PM ET Company Participants Paul Dils - Chief Tax Officer and Director, IR Jim Continenza - Executive Chairman and CEO David Bullwinkle - CFO Operator Thank you for standing by, and welcome to Eastman Kodak’s Fourth Quarter and Full Year 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. I would now like to hand the call over to Paul Dils. Paul Dils Thank you, and good afternoon, everyo ...

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, 2021 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 of incorporation or ...