Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q2 2020 Earnings Presentation
17 slides from Eastman Kodak's earnings presentation, Aug 11, 2020
Slide 1: Second Quarter 2020 Earnings Call
Second Quarter 2020 Earnings Call August 11, 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 • COVID-19 update: • Continues to present challenges for companies around the world • Kodak continues to operate as an essential business putting the health and safety of employees first • Leveraging the Advanced Materials and Chemical and manufacturing expertise to assist with the p
Slide 5: CEO Perspective
CEO Perspective • Announced several new products and enhancements to existing products: • Enhancements to industry leading Kodak SONORA Plates • Two new Kodak MAGNUS Platesetters which will be the world’s fastest Computer To Plate (“CTP”) devices • Kodak PRINERGY On Demand Workflow Software, a cloud
Slide 6: Second Quarter Results
Second Quarter Results (Decline) / Improvement - ($ millions) Q2 2020 Q2 2019 $ Consolidated Revenue $213 $307 ($94) Add Back: Unfavorable Impact of Foreign Exchange 2 $2 Consolidated Revenue on a Constant Currency Basis $215 $307 ($92) Net (Loss) Income ($5) $201 ($206) Changes in Fair Value of Emb
Slide 7: First Half Results
First Half Results (Decline) / Improvement - ($ millions) YTD 2020 YTD 2019 $ Consolidated Revenue $480 $598 ($118) Add Back: Unfavorable Impact of Foreign Exchange 2 $5 Consolidated Revenue on a Constant Currency Basis $485 $598 ($113) Net (Loss) Income ($116) $183 ($299) Changes in Fair Value of E
Slide 8: First Half Cash Flow
First Half Cash Flow Six Months Ended June 30, ($ Millions) 2020 2019 Change Primary Drivers of Cash: Cash from Operations: Net (loss) income $ (116) $ 183 $ (299) Depreciation and amortization 20 29 (9) Pension income $33M Use of (43) (45) 2 $2M Year-Over-Year Change in fair value of embedded conve
Slide 9: Non-GAAP Measures
Non-GAAP Measures In this second 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 for the Series
Slide 10: Non-GAAP Measures
Non-GAAP Measures The following tables reconcile the most directly comparable GAAP measure of Net (Loss) Income to Adjusted Net Income (Loss) for the three and six months ended June 30, 2020 and 2019, respectively: (in millions) Three Months Ended June 30, 2020 2019 Net (Loss) Income $ (5) $ 201 Cha
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 for the three months ended June 30, 2020 and 2019, respectively: (in millions) Q2 2020 Q2 2019 $ Change Net (Loss) Income $ (5) $ 201 $ (206) All Other (1) - (1) Depr
Slide 12: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net Loss (Income) to Operational EBITDA and Operational EBITDA excluding the increase in accounts receivable reserves for the six months ended June 30, 2020 and 2019, respectively: (in millions) YTD 2020 YT
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. (3) Consists of costs such as security, maintenance and
Slide 14: Appendix
APPENDIX 14
Slide 15: Second Quarter Financial Summary by Reportable Segment
Second Quarter Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital Q2 2020 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 119 $ 52 $ 38 $ 2 $ 211 Operational EBITDA (1) $ 1 $ (3) $ (7) $ 2 $ (7) Advanced Traditional Digital Q2 2019 Actuals Materia
Slide 16: Year-To-Date Financial Summary by Reportable Segment
Year-To-Date Financial Summary by Reportable Segment ($ millions) Advanced Traditional Digital YTD 2020 Actuals Materials & Brand Total Printing Printing Chemicals Revenue $ 273 $ 117 $ 80 $ 5 $ 475 Operational EBITDA (1) $ 2 $ (5) $ (16) $ 4 $ (15) Advanced Traditional Digital YTD 2019 Actuals Mate
Slide 17: Thank You
i < Thank You
Eastman Kodak Company — Q2 2020 Earnings Presentation on 6ix