Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q3 2024 Earnings Presentation
19 slides from Eastman Kodak's earnings presentation, Nov 12, 2024
Slide 1: Third Quarter 2024 Earnings Call
Third Quarter 2024 Earnings Call November 12, 2024
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) Kodak’s ability to effectively compete with large, well-financed industry partici
Slide 4: Agenda
Agenda Introduction Anthony Redding, Chief Compliance - Officer 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 line bullet point First
Slide 5: CEO Perspective
CEO Perspective • Continue to be committed to executing our long-term plan; investing in innovation, increasing operational efficiency and focusing on smart revenue. • Investing in innovation across our complete portfolio of businesses, the build out of Current Good Manufacturing Practice (“cGMP”) c
Slide 6: CEO Perspective
CEO Perspective • On October 22, 2024, U.S. International Trade Commission (“ITC”) made an affirmative determination in our tariff cases concerning imports of aluminum printing plates from Japan and China. • As a result of the determinations by the ITC and Commerce Department, duties are now being i
Slide 7: Third Quarter 2024 Results
Third Quarter 2024 Results (Decline) (Decline) Improvement Improvement ($ millions) Q3 2024 Q3 2023 $ % Consolidated Revenue $261 $269 ($8) -3% Impact of Foreign Exchange 2 ($1) Adjusted Consolidated Revenue $260 $269 ($9) -3% Gross Profit $45 $50 ($5) -10% 2 Impact of Foreign Exchange $0 Adjusted G
Slide 8: Year-To-Date September 2024 Results
Year-To-Date September 2024 Results (Decline) (Decline) Improvement Improvement ($ millions) YTD 2024 YTD 2023 $ % Consolidated Revenue $777 $842 ($65) -8% Impact of Foreign Exchange 2 $3 Adjusted Consolidated Revenue $780 $842 ($62) -7% Gross Profit $152 $163 ($11) -7% 2 Impact of Foreign Exchange
Slide 9: Year-To-Date September 2024 Cash Flow
Year-To-Date September 2024 Cash Flow Nine Months Ended September 30, ($ Millions) 2024 2023 $ Change Primary Drivers of Cash: Cash Flow from Operations: Net income $ 76 $ 70 $ 6 Depreciation and amortization 21 23 (2) $40M Year- $25M Use of Pension and other postretirement income (111) (109) (2) Ov
Slide 10: Non-GAAP Measures
Non-GAAP Measures In this earnings presentation, reference is made to the following non-GAAP financial measures: • Revenues on a constant currency basis; • Net Income excluding changes in fair value of embedded derivative liability features, non-cash changes in workers compensation and employee bene
Slide 11: Non-GAAP Measures
Non-GAAP Measures The following tables reconcile the most directly comparable GAAP measure of Net Income to Adjusted Net Income for the three and nine months ended September 30, 2024 and 2023, respectively: (in millions) Q3 2024 Q3 2023 $ Change % Change Net Income $ 18 $ 2 $ 16 800% Non-Cash Change
Slide 12: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Income to Operational EBITDA and Adjusted Operational EBITDA for the three months ended September 30, 2024 and 2023, respectively: (in millions) Q3 2024 Q3 2023 $ Change % Change Net Income $ 18 $ 2 $ 1
Slide 13: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Income to Operational EBITDA and Adjusted Operational EBITDA for the nine months ended September 30, 2024 and 2023, respectively: (in millions) YTD 2024 YTD 2023 $ Change % Change Net Income $ 76 $ 70 $
Slide 14: 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 Adjusted net decrease in cash and cash equivalents for the nine months ended September 30, 2024 and 2023, respectively Nine Months En
Slide 15: Non-GAAP Measures: Footnote Explanations
Non-GAAP Measures Footnote Explanations: (1) Restructuring costs and other for the three and nine months ended September 30, 2023 included $1 million and $7 million, respectively, which were reported as Restructuring costs and other and $2 million in each period representing inventory write-downs wh
Slide 16: Appendix
APPENDIX 16
Slide 17: Third Quarter 2024 Financial Summary by Reportable Segment
Third Quarter 2024 Financial Summary by Reportable Segment ($ millions) Advanced Q3 2024 Actuals Print Materials & Brand Total Chemicals Revenue $ 182 $ 71 $ 5 $ 258 Operational EBITDA (1) $ (9) $ 6 $ 4 $ 1 Advanced Q3 2023 Actuals Print Materials & Brand Total Chemicals Revenue $ 196 $ 64 $ 4 $ 264
Slide 18: Year-To-Date 2024 Financial Summary by Reportable Segment
Year-To-Date 2024 Financial Summary by Reportable Segment ($ millions) Advanced YTD September 2024 Actuals Print Materials & Brand Total Chemicals Revenue $ 550 $ 203 $ 13 $ 766 Operational EBITDA (1) $ (9) $ 15 $ 11 $ 17 Advanced YTD September 2023 Actuals Print Materials & Brand Total Chemicals Re
Slide 19: Thank You
i < Thank You
Eastman Kodak Company — Q3 2024 Earnings Presentation on 6ix