Eastman Kodak Co
NYSE:KODK
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Eastman Kodak Co
NYSE:KODK
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US |
Eastman Kodak Co
Eastman Kodak Co. engages in the provision of analog and digital innovations. The company is headquartered in Rochester, New York and currently employs 4,200 full-time employees. The company went IPO on 2013-09-19. The firm provides hardware, software, consumables and services primarily to customers in commercial print, packaging, publishing, manufacturing and entertainment. The Company’s segments include Traditional Printing, Digital Printing, Advanced Materials and Chemicals and Brand. The Traditional Printing segment is comprised of prepress solutions. The Digital Printing segment is comprised of four lines of business, including the electrophotographic printing solutions business, the prosper business, the versamark business and the software business. The Advanced Materials and Chemicals segment is comprised of four lines of business, including industrial film and chemicals, motion picture, advanced materials and functional printing and kodak services for business. The Brand segment includes licensing of the Kodak brand to third parties.
Eastman Kodak Co. engages in the provision of analog and digital innovations. The company is headquartered in Rochester, New York and currently employs 4,200 full-time employees. The company went IPO on 2013-09-19. The firm provides hardware, software, consumables and services primarily to customers in commercial print, packaging, publishing, manufacturing and entertainment. The Company’s segments include Traditional Printing, Digital Printing, Advanced Materials and Chemicals and Brand. The Traditional Printing segment is comprised of prepress solutions. The Digital Printing segment is comprised of four lines of business, including the electrophotographic printing solutions business, the prosper business, the versamark business and the software business. The Advanced Materials and Chemicals segment is comprised of four lines of business, including industrial film and chemicals, motion picture, advanced materials and functional printing and kodak services for business. The Brand segment includes licensing of the Kodak brand to third parties.
Revenue: Fourth-quarter revenue was $290.0 million, up $24.0 million or 9% year‑over‑year; full‑year revenue was $1.069 billion, up $26.0 million or 2%.
Profitability: Q4 gross profit was $67.0 million (23% gross margin), up $16.0 million or 31% YoY; full‑year gross margin improved to 22% from 19%.
Balance sheet: Completed pension reversion (KRIP) that generated $1.023 billion in proceeds; after taxes and allocations Kodak ended 2025 with $337.0 million unrestricted cash and term loans at $200.0 million.
Pension / cash actions: Net benefit from reversion was $870.0 million after $153.0 million excise tax; $312.0 million of proceeds paid to reduce term loan principal and Kodak funded a replacement pension plan with $251.0 million in assets and $5.0 million cash.
EBITDA: Operational EBITDA for Q4 was $22.0 million (up 144% YoY) and full‑year operational EBITDA was $62.0 million (up 138% YoY).
Capital structure: Series B amendment extended mandatory redemption to June 2029, increased cumulative dividend rate to 6% (from 4%), and reduced conversion price to $10.00 (from $10.50); term loans accrue at 12.5% and Kodak will pay down an additional $100.0 million by June 1, 2026.
Business momentum: AM&C (films and materials) grew strongly — Q4 AM&C revenue was up 25% — and Print (plates, PROSPER 520) and Brand Licensing also contributed to improvements in revenue and margins.
