Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q1 2020 Earnings Presentation
14 slides from Eastman Kodak's earnings presentation, May 12, 2020
Slide 1: First Quarter 2020 Earnings Call
First Quarter 2020 Earnings Call May 12, 2020
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 • Started 2020 with a strong balance sheet, including $233 million of cash and cash equivalents • New, simplified organization structure for 2020 is better aligned with customers’ needs by providing a “One Kodak” customer first experience and better allows us to continue to focus on
Slide 5: First Quarter Results
First Quarter Results (Decline) / Improvement - ($ millions) Q1 2020 Q1 2019 $ Consolidated Revenue $267 $291 ($24) Add Back: Unfavorable Impact of Foreign Exchange 2 $3 Consolidated Revenue on a Constant Currency Basis $270 $291 ($21) Net Loss ($111) ($18) ($93) Changes in Fair Value of Embedded De
Slide 6: First Quarter Cash Flow
First Quarter Cash Flow Three Months Ended March 31, ($ Millions) 2020 2019 Change Primary Drivers of Cash: Cash from Operations: Net loss $ (111) $ (18) $ (93) Depreciation and amortization 10 15 (5) Pension income (22) (23) 1 $2M Year-Over-Year $19M Use of Change in fair value of embedded conversi
Slide 7: Questions and Answers
Questions and Answers 7
Slide 8: 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 excluding changes in fair value of embedded derivative liability features for the Series A Preferr
Slide 9: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Loss to Adjusted Net Income (Loss) for the three months ended March 31, 2020 and 2019, respectively: (in millions) Three Months Ended March 31, 2020 2019 Net Loss $ (111) $ (18) Changes in Fair Value of
Slide 10: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Loss to Operational EBITDA and Operational EBITDA excluding the increase in accounts receivable reserves for the three months ended March 31, 2020 and 2019, respectively: (in millions) Q1 2020 Q1 2019 $
Slide 11: 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. (3) Consists of costs such as security, maintenance and
Slide 12: Appendix
APPENDIX 12
Slide 13: First Quarter Financial Summary by Reportable Segment
First Quarter Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital Q1 2020 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 154 $ 65 $ 42 $ 3 $ 264 Operational EBITDA (1) $ 1 $ (2) $ (9) $ 2 $ (8) Advanced Traditional Digital Q1 2019 Actuals Material
Slide 14: Thank You
i < Thank You
Eastman Kodak Company — Q1 2020 Earnings Presentation on 6ix