Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q4 2024 Earnings Presentation
21 slides from Eastman Kodak's earnings presentation, Mar 17, 2025
Slide 1: Fourth Quarter and Full Year 2024 Earnings Call
Fourth Quarter and Full Year 2024 Earnings Call March 17, 2025
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) delays in shipment and production times, and fluctuations in demand; Kodak’s abil
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 • Continued to execute our long-term plan; investing in innovation and increasing operational efficiencies, shedding unprofitable businesses and driving strong gross profit. • Fourth Quarter 2024 Results: • Revenues of $266 million compared with $275 million for Q4 2023, a decrease o
Slide 6: CEO Perspective
CEO Perspective • Print Division: • Completed the tariff petition process with the U.S. International Trade Commission. This is an important win for the U.S. printing industry because it establishes a level playing field in the U.S. plates business. • KODAK PROSPER 7000 Turbo Press had a strong show
Slide 7: Fourth Quarter 2024 Results
Fourth Quarter 2024 Results (Decline) (Decline) Improvement Improvement ($ millions) Q4 2024 Q4 2023 $ % Consolidated Revenue $ 266 $ 275 $ (9) -3% Impact of Foreign Exchange 2 - Adjusted Consolidated Revenue $ 266 $ 275 $ (9) -3% Gross Profit $ 51 $ 47 $ 4 9% 2 Impact of Foreign Exchange - Adjusted
Slide 8: 2024 Fourth Quarter Cash Flow
2024 Fourth Quarter Cash Flow Three Months Ended December 31, ($ Millions) 2024 2023 $ Change Primary Drivers of Cash: Cash Flow from Operations: Net income $ 26 $ 5 $ 21 Depreciation and amortization 7 7 - $6M Year-Over- Year Increase Pension and other postretirement income $10M Use of (44) (36) (8
Slide 9: Full Year 2024 Results
Full Year 2024 Results (Decline) (Decline) Improvement Improvement ($ millions) FY 2024 FY 2023 $ % Consolidated Revenue $ 1,043 $ 1,117 $ (74) -7% Impact of Foreign Exchange 2 3 Adjusted Consolidated Revenue $ 1,046 $ 1,117 $ (71) -6% Gross Profit $ 203 $ 210 $ (7) -3% 2 Impact of Foreign Exchange
Slide 10: Full Year 2024 Cash Flow
Full Year 2024 Cash Flow Twelve Months Ended December 31, ($ Millions) 2024 2023 $ Change Primary Drivers of Cash: Cash Flow from Operations: Net income $ 102 $ 75 $ 27 Depreciation and amortization 28 30 (2) Pension and other postretirement income (155) (145) (10) $34M Year- Change in fair value of
Slide 11: 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 non-cash changes in workers compensation and employee benefit reserves, net gain on sale of assets, changes in fair value o
Slide 12: 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 twelve months ended December 31, 2024 and 2023, respectively: (in millions) Q4 2024 Q4 2023 $ Change % Change Net Income $ 26 $ 5 $ 21 420% Non-Cash Chang
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 three months ended December 31, 2024 and 2023, respectively: (in millions) Q4 2024 Q4 2023 $ Change % Change Net Income $ 26 $ 5 $ 21
Slide 14: 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 twelve months ended December 31, 2024 and 2023, respectively: (in millions) FY 2024 FY 2023 $ Change % Change Net Income $ 102 $ 75 $
Slide 15: 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) increase in cash and cash equivalents for the three months ended December 31, 2024 and 2023, respectively Thr
Slide 16: 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 twelve months ended December 31, 2024 and 2023, respectively Twelve Months
Slide 17: Non-GAAP Measures: Footnote Explanations
Non-GAAP Measures Footnote Explanations: (1) Restructuring costs and other for the twelve months ended December 31, 2024 and 2023 included $8 million and $7 million, respectively, which were reported as Restructuring costs and other and $3 million for December 31, 2023, representing inventory write-
Slide 18: Appendix
APPENDIX 18
Slide 19: Fourth Quarter 2024 Financial Summary by Reportable Segment
Fourth Quarter 2024 Financial Summary by Reportable Segment ($ millions) Advanced Q4 2024 Actuals Print Materials & Brand Total Chemicals Revenue $ 187 $ 68 $ 7 $ 262 Operational EBITDA (1) $ 1 $ 2 $ 6 $ 9 Advanced Q4 2023 Actuals Print Materials & Brand Total Chemicals Revenue $ 208 $ 58 $ 5 $ 271
Slide 20: Full Year 2024 Financial Summary by Reportable Segment
Full Year 2024 Financial Summary by Reportable Segment ($ millions) Advanced FY 2024 Actuals Print Materials & Brand Total Chemicals Revenue $ 737 $ 271 $ 20 $ 1,028 (1) Operational EBITDA $ (8) $ 17 $ 17 $ 26 Advanced FY 2023 Actuals Print Materials & Brand Total Chemicals Revenue $ 828 $ 255 $ 17
Slide 21: Thank You
i < Thank You
Eastman Kodak Company — Q4 2024 Earnings Presentation on 6ix