Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q3 2021 Earnings Presentation
16 slides from Eastman Kodak's earnings presentation, Nov 9, 2021
Slide 1: Third Quarter 2021 Earnings Call
Third Quarter 2021 Earnings Call November 9, 2021
Slide 2: Cautionary Statement Regarding Forward-looking Statements
Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined under the Pri
Slide 3: Agenda
Agenda Introduction Paul Dils, Chief Tax Officer and Director - of Investor Relations First line bullet point First line bullet point - Second line bullet point First line bullet point - CEO Third Perspective line Jim Continenza, Executive Chairman bullet point First line bullet point - Fourth l
Slide 4: CEO Perspective
CEO Perspective • Strong third quarter performance reflecting continued improvement despite rapid inflationary pressures; including rising costs of raw materials, shipping and supply chain, in addition to challenges surrounding work force. • Continue to focus as “One Kodak” and on our customer to ex
Slide 5: Third Quarter 2021 Results
Third Quarter 2021 Results Improvement ($ millions) Q3 2021 Q3 2020 / (Decline)- $ Consolidated Revenue $287 $252 $35 Less: Favorable Impact of Foreign Exchange 2 ($2) Adjusted Consolidated Revenue $285 $252 $33 Net Income (Loss) $8 ($445) $453 Changes in Fair Value of Embedded Derivative Liability
Slide 6: Year-To-Date 2021 Results
Year-To-Date 2021 Results Improvement - ($ millions) YTD 2021 YTD 2020 $ Consolidated Revenue $843 $732 $111 Less: Favorable Impact of Foreign Exchange 2 ($21) Adjusted Consolidated Revenue $822 $732 $90 Net Income (Loss) $30 ($561) $591 Changes in Fair Value of Embedded Derivative Liability Feature
Slide 7: Year-To-Date 2021 Cash Flow
Year-To-Date 2021 Cash Flow Nine Months Ended September 30, ($ Millions) 2021 2020 $ Change Primary Drivers of Cash: Cash from Operations: Net income (loss) $ 30 $ (561) $ 591 Depreciation and amortization 23 29 (6) Pension income (63) (65) 2 Change in fair value of embedded conversion features deri
Slide 8: Non-GAAP Measures
Non-GAAP Measures In this third quarter earnings presentation, reference is made to the following non-GAAP financial measures: • Revenues and Operational EBITDA on a constant currency basis; • Net Income (Loss) excluding changes in fair value of embedded derivative liability features, trade name imp
Slide 9: Non-GAAP Measures
Non-GAAP Measures The following tables reconcile the most directly comparable GAAP measure of Net Income (Loss) to Adjusted Net Income (Loss) for the three and nine months ended September 30, 2021 and 2020, respectively: (in millions) Q3 2021 Q3 2020 $ Change Net Income (Loss) $ 8 $ (445) $ 453 Chan
Slide 10: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Income (Loss) to Operational EBITDA, Operational EBITDA on a constant currency basis and Adjusted Operational EBITDA for the three months ended September 30, 2021 and 2020, respectively: (in millions) Q
Slide 11: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Income (Loss) to Operational EBITDA and Adjusted Operational EBITDA for the nine months ended September 30, 2021 and 2020, respectively: (in millions) YTD 2021 YTD 2020 $ Change Net Income (Loss) $ 30 $
Slide 12: Non-GAAP Measures
Non-GAAP Measures Footnote Explanations: (1) As reported in the Consolidated Statement of Operations. (2) Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives, investigations and litigation. (3) Consists of costs su
Slide 13: Appendix
APPENDIX 13
Slide 14: Third Quarter 2021 Financial Summary by Reportable Segment
Third Quarter 2021 Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital Q3 2021 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 166 $ 58 $ 55 $ 4 $ 283 Operational EBITDA (1) $ 5 $ (2) $ - $ 3 $ 6 Advanced Traditional Digital Q3 2020 Actuals Materia
Slide 15: Year-To-Date 2021 Financial Summary by Reportable Segment
Year-To-Date 2021 Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital YTD 2021 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 483 $ 184 $ 155 $ 10 $ 832 Operational EBITDA (1) $ 16 $ (2) $ (3) $ 8 $ 19 Advanced Traditional Digital YTD 2020 Actuals
Slide 16: Thank You
i < Thank You
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