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Eastman Kodak Company Third – Quarter 2024 Earnings Conference Call
GlobeNewswire News Room· 2024-11-05 16:32
Core Viewpoint - Kodak will host its Third-Quarter 2024 Earnings call on November 12, 2024, at 5:00 pm ET, led by Executive Chairman and CEO James Continenza and CFO David Bullwinkle [1] Group 1 - The earnings call will involve discussions with financial analysts and investors regarding Kodak's financial results [1] - The audio conference details are available through a registration link [1]
Eastman Kodak(KODK) - 2024 Q2 - Earnings Call Transcript
2024-08-09 19:19
Financial Data and Key Metrics Changes - Revenues decreased by $28 million or 9% compared to the prior year quarter, with a decrease of $24 million or 8% when excluding foreign exchange impact [6][13] - Gross profit decreased by $5 million or 8% compared to the prior year quarter, but gross profit percentage increased to 22% from 21% in the prior year quarter [5][13] - Net income for the second quarter was $26 million, down from $35 million in the prior year quarter, a decrease of $9 million [14] - Operational EBITDA for the quarter was $12 million, down from $22 million in the prior year quarter, a decline of $10 million [14][17] Business Line Data and Key Metrics Changes - The Advanced Materials & Chemicals (AMC) segment is highlighted as a key growth area, with investments aimed at long-term opportunities [7][23] - The company continues to invest in manufacturing capacity for film to meet growing demand, indicating a focus on traditional business lines [7][23] Market Data and Key Metrics Changes - The company reported a decrease in cash provided by operating activities to $10 million from $21 million in the prior year period [18] - Cash and cash equivalents at the end of the second quarter were $251 million, a decrease of $4 million from December 31, 2023 [18] Company Strategy and Development Direction - The company is committed to executing its long-term plan, focusing on operational efficiencies, innovation, and aligning with the right customers [5][12] - Kodak is investing in its core competencies in Advanced Materials & Chemicals, which is seen as essential for future growth and profitability [7][23] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the company's progress despite a challenging global environment, emphasizing a focus on smart revenue and cost reductions [12][22] - The company remains in compliance with all applicable financial covenants, indicating a stable financial position [22] Other Important Information - The company is filing a shelf registration statement to renew its expiring primary shelf registration, maintaining flexibility to access public markets [11] - Actions have been implemented to reduce investment risk in the U.S. pension plan, including outsourcing investment management [10] Summary of Q&A Session - No formal Q&A session was held during the call, but the management team expressed gratitude for the interest in Kodak and reiterated their commitment to customer focus and operational excellence [4][24]
Eastman Kodak(KODK) - 2024 Q2 - Quarterly Results
2024-08-08 20:20
Financial Performance - Consolidated revenues for Q2 2024 were $267 million, a decrease of $28 million or 9% compared to Q2 2023[1] - GAAP net income for the quarter was $26 million, down $9 million or 26% from $35 million in Q2 2023[2] - Operational EBITDA decreased to $12 million, a decline of $10 million or 45% compared to $22 million in Q2 2023[2] - Total revenues for Q2 2024 were $267 million, down 9.5% from $295 million in Q2 2023[16] - Operational EBITDA for Q2 2024 was $12 million, a decline of 45% compared to $22 million in Q2 2023[14] - Gross profit decreased to $58 million in Q2 2024 from $63 million in Q2 2023, reflecting a gross margin of 21.7%[16] - Selling, general and administrative expenses rose to $47 million in Q2 2024, up from $40 million in Q2 2023[16] - Research and development costs were $8 million in Q2 2024, slightly down from $9 million in Q2 2023[16] - Net cash provided by operating activities was $10 million in Q2 2024, down from $21 million in Q2 2023[22] Cash and Assets - The cash balance at the end of the quarter was $251 million, a decrease of $4 million from December 31, 2023[3] - Cash and cash equivalents at the end of Q2 2024 were $251 million, a decrease from $255 million at the end of 2023[19] - Total assets increased to $2,359 million as of June 30, 2024, compared to $2,355 million at the end of 2023[19] - Total liabilities decreased to $1,184 million in Q2 2024 from $1,214 million in Q4 2023[20] Revenue Segments - Revenue from the Print segment was $186 million, down from $215 million in Q2 2023, while Advanced Materials & Chemicals revenue was $73 million, slightly up from $72 million[5] Strategic Initiatives - Kodak is investing in its Advanced Materials & Chemicals group, with a cGMP facility for diagnostic test reagents set to begin production in 2025[1] - The company is focusing on generating smart revenue to enhance profitability, despite the decline in overall revenue[4] - Kodak plans to continue streamlining operations and investing in new products and businesses in the second half of the year[4] - The company announced commitments for several KODAK PROSPER ULTRA 520 Presses following its participation in the drupa tradeshow[1]
Eastman Kodak Company Second – Quarter 2024 Earnings Conference Call
GlobeNewswire News Room· 2024-08-01 16:08
ROCHESTER, N.Y., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Kodak will host the Second-Quarter 2024 Earnings call on Thursday, August 8th 2024, at 5:00 pm ET. Executive Chairman and Chief Executive Officer James Continenza and Chief Financial Officer David Bullwinkle will host a conference call with financial analysts and investors to discuss the financial results. EVENT DETAILS Title: Eastman Kodak Q2 2024 Earnings Conference Call Start Date: 08/08/2024 Start Time: 5:00 PM EST AUDIO CONFERENCE DETAILS Audience Conf ...
Kodak Photo Printer, Manufactured By Prinics, Maintains Amazon Bestseller Status: A Timeless Favorite
Prnewswire· 2024-07-08 13:00
Core Insights - The Kodak photo printer, produced by Prinics Co., Ltd., has achieved bestseller status on Amazon globally [1] - A new product line, the ERA lineup, has been launched, expanding the existing RETRO lineup with various sizes of instant cameras and printers [2] - Prinics Co., Ltd. emphasizes customer satisfaction and plans to continue releasing diverse products under the slogan "Print happiness" [3] Product Offerings - The ERA lineup includes the Kodak Mini Shot 4 ERA, the world's first instant camera for 4-inch square photo printing, along with a 1-inch camera (Memo Shot ERA) and a 0.5-inch printer (Memo Label ERA) [2] - The retro lineup features 2-inch, 3-inch, and 6-inch film format instant cameras and photo printers, with the Kodak Mini Shot 3 recognized as a leader in the 3-inch instant camera market [4] - The Kodak Dock Plus, a 6-inch photo printer with a unique docking system, has maintained bestseller status on Amazon for approximately 5 years [4] Market Performance - As of May 27, 2024, nine Kodak products have been recognized as bestsellers on Amazon and Walmart across seven countries [3] - Kodak's instant cameras offer 2-in-1 functionality, allowing users to print smartphone images, and are competitively priced when bundled with cartridges [5] Company Overview - Kodak (NYSE: KODK) is a prominent global manufacturer focused on commercial print and advanced materials & chemicals, holding 79,000 patents from over 130 years of R&D [6] - The company is committed to environmental stewardship and aims to lead in developing sustainable solutions for print [6]
Eastman Kodak(KODK) - 2024 Q1 - Earnings Call Transcript
2024-05-10 00:41
Financial Data and Key Metrics Changes - Revenues for Q1 2024 decreased by $29 million, approximately 10% compared to the prior year quarter, totaling $249 million [9][10] - Gross profit decreased by $1 million or 2%, with a gross profit percentage increasing from 18% to 20% [8][10] - Net income for Q1 2024 was $32 million, a decrease of $1 million from $33 million in the prior year quarter [10] - Operational EBITDA for Q1 2024 was $4 million, down from $9 million in the prior year quarter [10][11] Business Line Data and Key Metrics Changes - In the print business, Kodak continued to invest in innovation across its portfolio, showcasing new products at drupa [7] - The Advanced Materials and Chemicals (AMC) business is committed to film, with investments in manufacturing capacity to meet growing demand [7] Market Data and Key Metrics Changes - The revenue decline aligns with Kodak's estimate of the overall market decline [8] - Foreign currency had no impact on revenues or gross profit for Q1 2024 compared to the prior year [10] Company Strategy and Development Direction - Kodak is focused on long-term growth initiatives leveraging its strengths in chemicals, layering, and coating [7] - The company is investing in operational efficiency and automation to improve profitability [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the company's performance despite a challenging global environment, emphasizing a commitment to long-term strategies [9][12] - The company plans to concentrate on fundamentals, investing for growth and increasing operational efficiency [10] Other Important Information - Kodak's cash balance at the end of Q1 2024 was $262 million, an increase of $7 million from the previous quarter [11] - Cash provided by operating activities was $17 million, reflecting an improvement of $3 million compared to the prior year [11] Summary of Q&A Session - No formal Q&A session was held during the call, and the Investor Relations team is available for follow-up inquiries [5][14]
Eastman Kodak(KODK) - 2024 Q1 - Quarterly Results
2024-05-09 20:19
Exhibit 99.1 Media Contact: Kurt Jaeckel, Kodak, +1 585-490-8646, kurt.jaeckel@kodak.com Investor Contact: Anthony Redding, Kodak, +1 585-724-4053, shareholderservices@kodak.com Kodak Reports First-Quarter 2024 Financial Results ROCHESTER, N.Y., May 9, 2024 – Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2024. First-quarter 2024 highlights include: "For the first quarter, Kodak continued to build on its strong foundation, generating cash and delivering a gross pro ...
Eastman Kodak(KODK) - 2024 Q1 - Quarterly Report
2024-05-09 20:15
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: March 31, 2024 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 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Nam ...
Eastman Kodak Company First – Quarter 2024 Earnings Conference Call
Newsfilter· 2024-05-02 15:30
ROCHESTER, N.Y., May 02, 2024 (GLOBE NEWSWIRE) -- Kodak will host the First-Quarter 2024 Earnings call on Thursday, May 9th 2024, at 5:00 pm ET. Executive Chairman and Chief Executive Officer James Continenza and Chief Financial Officer David Bullwinkle will host a conference call with financial analysts and investors to discuss the financial results. EVENT DETAILS Title: Eastman Kodak Q1 2024 Earnings Conference Call Start Date: 05/09/2024 Start Time: 5:00 PM EST AUDIO CONFERENCE DETAILS Audience Conferenc ...
Prinics launches a new 'KODAK ERA' product line up
Prnewswire· 2024-03-30 14:00
SEOUL, South Korea, March 30, 2024 /PRNewswire/ -- Prinics, a Korean-based printing technology company specializing in photo printers, launched its 'ERA' line with 6 products - Kodak MiniShot 4 ERA, Kodak MiniShot 3 ERA, Kodak MiniShot 2 ERA, Kodak Mini 3 ERA, Kodak Mini 2 ERA, and Kodak Dock ERA in the USA on March 15, 2024. The ERA products offer state-of-the-art features for high-quality photos and allow you to print memorable moments. The KODAK MiniShot 4 ERA is the world's first 4X4 square-type instant ...