Eastman Kodak(KODK) - 2025 Q3 - Quarterly Results

Financial Performance - Consolidated revenues for Q3 2025 were $269 million, an increase of $8 million or 3% compared to Q3 2024[3] - Advanced Materials & Chemicals (AM&C) revenues increased to $82 million, up $11 million or 15% year-over-year[3] - Gross profit rose to $68 million, a significant increase of $23 million or 51% compared to Q3 2024[3] - Operational EBITDA for Q3 2025 was $29 million, an increase of $28 million compared to $1 million in Q3 2024[3] - GAAP net income for the quarter was $13 million, a decrease of $5 million or 28% from Q3 2024[3] - Total revenues for Q3 2025 were $269 million, an increase of 3% from $261 million in Q3 2024[25] - Operational EBITDA for Q3 2025 was $29 million, a significant increase of 2800% compared to $1 million in Q3 2024[24] - Net income for Q3 2025 decreased to $13 million, down 28% from $18 million in Q3 2024[24] - Gross profit for Q3 2025 was $68 million, up from $45 million in Q3 2024, reflecting improved cost management[25] Cash and Liabilities - Cash balance at the end of Q3 2025 was $168 million, an increase of $13 million from the previous quarter[6] - Cash and cash equivalents decreased to $168 million as of September 30, 2025, down from $201 million at the end of 2024[27] - Total current liabilities rose significantly to $749 million in Q3 2025, compared to $261 million in Q4 2024[27] - The company reported a net cash used in operating activities of $9 million for the nine months ended September 30, 2025, compared to $11 million for the same period in 2024[29] Operational Insights - AM&C's Operational EBITDA increased by $10 million, driven by price increases and higher volumes in Industrial Film and Chemicals[7] - Print revenues decreased to $177 million, down $5 million or 3% year-over-year, primarily due to lower volume in Prepress Solutions[8] - Research and development costs for Q3 2025 were $7 million, slightly down from $8 million in Q3 2024, indicating a focus on cost control[25] Financial Stability - Kodak has resolved prior going concern conditions, enhancing its financial stability[11] - The pension reversion transaction is expected to yield proceeds increasing from $500 million to $600 million[2] - Interest expense increased to $18 million in Q3 2025 from $14 million in Q3 2024, indicating higher borrowing costs[24] Asset Management - The company’s total assets increased to $2,075 million as of September 30, 2025, compared to $2,001 million at the end of 2024[27]