Eastman Kodak Stock Price, News & Analysis

Eastman Kodak Company (NYSE:KODK) responded to the New York Attorney General's request for testimony and documents, clarifying that it had previously offered compliance. Kodak asserts that CEO Continenza’s stock purchase was pre-approved during an open trading window, in line with insider trading policies. Kodak challenges the Attorney General’s legal theory, arguing it could impair executive investment in their companies. The company maintains confidence in its legal standing and prepares for potential court proceedings.

Eastman Kodak Company (NYSE: KODK) reported first quarter 2021 results with consolidated revenues of $265 million and a GAAP net income of $6 million, a significant improvement from a net loss of $111 million in the prior year. The company ended the quarter with a cash balance of $401 million, up from $196 million at the end of 2020. Key segments showed growth, with SONORA Process Free Plates volume increasing by 8% and PROSPER annuities rising by 12% year-over-year. Kodak's financial strategies have established a solid foundation for long-term growth.

Kodak will conduct its First-Quarter 2021 Earnings Call on May 12, 2021, at 5:00 PM ET, featuring Executive Chairman James Continenza and CFO David Bullwinkle. The call aims to discuss the financial results with analysts and investors. Participants can dial in using the toll-free number (877) 359-9508 or the toll number (224) 357-2393, entering Conference ID 3539148. A webcast will also be available at this link.

Eastman Kodak has acquired ECRM Incorporated's CTP device business, a key player in the graphic arts sector. This acquisition includes equipment, contracts, inventory, and intellectual property, though financial terms remain undisclosed. Kodak aims to consolidate its position in the CTP segment of commercial printing and enhance its service offerings to customers. Kodak's CEO emphasized the strategic importance of this deal, aligning with their commitment to growth in the printing industry.

Eastman Kodak Company (NYSE: KODK) reported full-year 2020 consolidated revenues of $1 billion, down $213 million from 2019. The year-end cash balance was $196 million, a decrease from $233 million in 2019. Kodak faced a GAAP net loss of $541 million, driven by a $416 million derivative liability charge. Despite challenges, the company increased cash in the second half of the year and announced financial transactions to enhance liquidity and support growth in core businesses. Operational EBITDA was negative $1 million, compared to $13 million in 2019.

Kodak will host its Fourth-Quarter and Full Year 2020 Earnings Conference Call on March 16, 2021, at 5:00 pm ET. Executive Chairman James Continenza and CFO David Bullwinkle will discuss the financial results with analysts and investors. Interested parties can join via two dial-in numbers: (877) 359-9508 for toll-free and (224) 357-2393 for toll. The conference ID is 4381706. A webcast of the call will also be available at this link.

Dealmed has entered into a licensing agreement with Eastman Kodak Company (NYSE: KODK) to produce and distribute infrared thermometers. This partnership bolsters Dealmed's product offerings and leverages its established supply chains. The thermometers, designed for non-contact temperature readings with high accuracy, will be available in the United States and South America. Kodak aims to enhance its presence in the medical equipment market through this collaboration, ensuring high-quality standards are maintained.

Eastman Kodak Company (NYSE: KODK) reported Q3 2020 financial results with consolidated revenues of $252 million, down $63 million year-over-year. The company achieved a cash balance of $193 million, increasing by $13 million over Q2 2020. Kodak converted its $100 million secured convertible notes into common stock, decreasing its debt. Despite improved revenue from Q2, Kodak posted a net loss of $445 million due to a $416 million charge related to the convertible notes. Operational EBITDA was negative $1 million.

Kodak will host its Third-Quarter 2020 Earnings Conference Call on November 10, 2020, at 5:00 pm ET. Executive Chairman James Continenza and CFO David Bullwinkle will discuss financial results with analysts and investors. Participants can dial in via toll-free number 877-359-9508 or toll number 224-357-2393, using passcode 7172977. The call will also be available via webcast at this link. This earnings call is crucial for shareholders to evaluate the company's performance in Q3 2020.