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Eastman Kodak(KODK) - 2024 Q3 - Quarterly Results
KODKEastman Kodak(KODK)2024-11-12 21:17

Revenue Performance - Consolidated revenues of 261million,adecreaseof261 million, a decrease of 8 million or 3% compared to Q3 2023[1] - Print segment revenue of 182million,adecreaseof182 million, a decrease of 14 million compared to Q3 2023[6] - Advanced Materials & Chemicals segment revenue of 71million,anincreaseof71 million, an increase of 7 million compared to Q3 2023[6] - Revenue decline of 9millionor39 million or 3% excluding the impact of foreign exchange[2] - Total revenues for Q3 2024 were 261 million, a slight decrease from 269millioninQ32023[21]ProfitabilityMetrics−Grossprofitof269 million in Q3 2023[21] Profitability Metrics - Gross profit of 45 million, a decrease of 5millionor105 million or 10% compared to Q3 2023[1] - GAAP net income of 18 million, an increase of 16millionor80016 million or 800% compared to Q3 2023[1] - Operational EBITDA of 1 million, a decrease of 11millionor9211 million or 92% compared to Q3 2023[1] - Operational EBITDA for the Print segment was (9) million, a decrease of 13 million compared to Q3 2023[6] - Operational EBITDA for the Advanced Materials & Chemicals segment was 6 million, an increase of 2millioncomparedtoQ32023[6]−NetIncomeforQ32024was2 million compared to Q3 2023[6] - Net Income for Q3 2024 was 18 million, an increase of 800% compared to 2millioninQ32023[19]−OperationalEBITDAforQ32024was2 million in Q3 2023[19] - Operational EBITDA for Q3 2024 was 1 million, a decrease of 92% compared to 12millioninQ32023[19]−GrossprofitforQ32024was12 million in Q3 2023[19] - Gross profit for Q3 2024 was 45 million, down from 50millioninQ32023[21]CashandLiquidity−Cashbalanceof50 million in Q3 2023[21] Cash and Liquidity - Cash balance of 214 million, a decrease of 41millionfromDecember31,2023[1]−Cashandcashequivalentsdecreasedto41 million from December 31, 2023[1] - Cash and cash equivalents decreased to 214 million in September 2024 from 255millioninDecember2023[24]−Netcashusedinoperatingactivitieswas255 million in December 2023[24] - Net cash used in operating activities was 11 million for the nine months ended September 30, 2024, compared to 21millionprovidedbyoperatingactivitiesinthesameperiodin2023[28]−AdditionstopropertiesintheninemonthsendedSeptember30,2024were21 million provided by operating activities in the same period in 2023[28] - Additions to properties in the nine months ended September 30, 2024 were 39 million, up from 15millioninthesameperiodin2023[28]−Netcashusedinfinancingactivitieswas15 million in the same period in 2023[28] - Net cash used in financing activities was 21 million for the nine months ended September 30, 2024, compared to 87millionprovidedbyfinancingactivitiesinthesameperiodin2023[28]−Cash,cashequivalents,andrestrictedcashdecreasedto87 million provided by financing activities in the same period in 2023[28] - Cash, cash equivalents, and restricted cash decreased to 322 million at the end of September 2024 from 374millionattheendofSeptember2023[28]AssetandInvestmentChanges−Totalassetsincreasedto374 million at the end of September 2023[28] Asset and Investment Changes - Total assets increased to 2,388 million in September 2024 from $2,355 million in December 2023[24]