Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q1 2022 Earnings Presentation
16 slides from Eastman Kodak's earnings presentation, May 10, 2022
Slide 1: First Quarter 2022 Earnings Call
First Quarter 2022 Earnings Call May 10, 2022
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: Cautionary Statement Regarding Forward-Looking Statements (continued)
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 (continued) • The impacts of the war in Ukraine and the international response thereto on Kod
Slide 4: 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 5: CEO Perspective
CEO Perspective • Started 2022 with a strong balance sheet building off the accomplishments of 2021, including several new product announcements. Cash and cash equivalents as of March 31, 2022, was $309 million. • Revenues increased $25 million (+9%) compared to the prior year quarter, $35 million (
Slide 6: CEO Perspective
CEO Perspective • New initiatives in Advanced Materials & Chemicals business: • EV/Energy Storage Battery Material Manufacturing – Started coating substrates for EV and energy storage materials. In 2021, started limited production of approximately 3 million square meters, with a maximum capacity of
Slide 7: First Quarter 2022 Results
First Quarter 2022 Results Improvement ($ millions) Q1 2022 Q1 2021 / (Decline)- $ Consolidated Revenue $290 $265 $25 Add: Unfavorable Impact of Foreign Exchange 2 $10 Adjusted Consolidated Revenue $300 $265 $35 Net (Loss) Income ($3) $6 ($9) Changes in Fair Value of Embedded Derivative Liability Fe
Slide 8: First Quarter 2022 Cash Flow
First Quarter 2022 Cash Flow Three Months Ended March 31, ($ Millions) 2022 2021 $ Change Primary Drivers of Cash: Cash from Operations: Net (loss) income $ (3) $ 6 $ (9) Depreciation and amortization 7 8 (1) $18M Year- Pension and other postretirement income $21M Use of (26) (21) (5) Over-Year Cash
Slide 9: Non-GAAP Measures
Non-GAAP Measures In this first quarter earnings presentation, reference is made to the following non-GAAP financial measures: • Revenues and Operational EBITDA on a constant currency basis; • Net (Loss) Income excluding changes in fair value of embedded derivative liability features and non-cash ch
Slide 10: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Adjusted Net (Loss) Income for the three months ended March 31, 2022 and 2021, respectively: (in millions) Q1 2022 Q1 2021 $ Change Net (Loss) Income $ (3) $ 6 $ (9) Changes in Fair Val
Slide 11: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Operational EBITDA, Operational EBITDA on a constant currency basis and Adjusted Operational EBITDA for the three months ended March 31, 2022 and 2021, respectively: (in millions) Q1 20
Slide 12: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (decrease) increase in cash, cash equivalents and restricted cash to cash and cash equivalents excluding net proceeds from refinancing transactions, funding of Letter of Credit Facility and foreign exch
Slide 13: 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 third-pa
Slide 14: Appendix
APPENDIX 14
Slide 15: First Quarter 2022 Financial Summary by Reportable Segment
First Quarter 2022 Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital Q1 2022 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 172 $ 56 $ 54 $ 4 $ 286 Operational EBITDA (1) $ (2) $ (5) $ (3) $ 3 $ (7) Advanced Traditional Digital Q1 2021 Actuals M
Slide 16: Thank You
i < Thank You
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