Eastman Kodak Co
NYSE:KODK
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.
Best Quarter in Years: Kodak reported its strongest quarterly performance in a long time, highlighting operational improvements and growth from long-term investments.
Revenue Growth: Revenue reached $269 million, up 3% year-over-year, driven mainly by strength in the Advanced Materials and Chemicals segment.
Margin Expansion: Gross profit rose to $68 million (up 51% YoY), with gross margin improving to 25% from 17% last year, helped by pricing, volume, and lower aluminum costs.
Pension Reversion Windfall: Kodak expects to receive about $600 million from its U.S. pension plan reversion—$100 million higher than previously estimated—enabling significant deleveraging.
Debt Reduction: Approximately $305 million of the pension proceeds will go toward paying down term loans, with expectations to become net cash positive by year-end.
Going Concern Resolved: The company’s prior going concern disclosure has been eliminated following successful execution of the pension process and debt refinancing.
