Eastman Kodak (NYSE:KODK) Announces Quarterly Earnings Results

Eastman Kodak (NYSE:KODK) posted its earnings results on Thursday. The technology company reported ($0.21) EPS for the quarter, FiscalAI reports. Eastman Kodak had a negative return on equity of 20.84% and a negative net margin of 12.60%.The firm had revenue of $265.00 million during the quarter.

Here are the key takeaways from Eastman Kodak’s conference call:

• Kodak reported stronger operating performance with consolidated revenue up 7% to $265 million, gross profit rising to $57 million (22% margin), and operational EBITDA improving to $15 million, the third consecutive quarter of year-over-year growth.
• GAAP net loss widened to $16 million, driven mainly by a $12 million non-cash fair-value charge on a preferred-stock derivative (linked to the company’s stock price) and $5 million of stock-based compensation, which management excludes from its operational EBITDA metric.
• Balance sheet strengthened — Kodak ended the quarter with $299 million of unrestricted cash, made a $50 million term-loan principal repayment, and reported an improved net debt-positive position (net debt positive of $139 million).
• Operational and product momentum: AM&C and print revenues grew, Kodak highlighted renewed investment and demand in still and motion-picture film (including the new KODAK VERITA 200D), launch of the SONORA UltraXR Plate in Europe, a running cGMP pharmaceutical facility, and a new electrophysiology lab partnership to support future product development.

Eastman Kodak Price Performance

KODK traded down $2.76 during trading on Friday, reaching $11.39. The stock had a trading volume of 2,953,580 shares, compared to its average volume of 1,247,486. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -6.06 and a beta of 1.66. The company has a quick ratio of 2.32, a current ratio of 3.14 and a debt-to-equity ratio of 0.34. Eastman Kodak has a 1-year low of $4.94 and a 1-year high of $14.87. The stock has a 50 day moving average of $10.09 and a two-hundred day moving average of $8.52.

Analysts Set New Price Targets

Several research firms have commented on KODK. Wall Street Zen upgraded shares of Eastman Kodak from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. Weiss Ratings cut shares of Eastman Kodak from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Eastman Kodak

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Eastman Kodak by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,177,801 shares of the technology company’s stock worth $19,707,000 after purchasing an additional 113,398 shares during the period. Fifth Third Bancorp acquired a new stake in Eastman Kodak in the first quarter worth approximately $77,000. Virtu Financial LLC acquired a new stake in Eastman Kodak in the fourth quarter worth approximately $134,000. Empowered Funds LLC boosted its holdings in Eastman Kodak by 10.9% during the fourth quarter. Empowered Funds LLC now owns 353,909 shares of the technology company’s stock worth $2,994,000 after buying an additional 34,646 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in Eastman Kodak by 17.3% during the fourth quarter. XTX Topco Ltd now owns 65,967 shares of the technology company’s stock worth $558,000 after buying an additional 9,744 shares in the last quarter. 33.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Kodak Company Profile

Eastman Kodak Company (NYSE: KODK) is a global technology firm specializing in imaging, printing and advanced materials. The company offers a wide array of products and services that enable customers to create, manage and share visual content across traditional and digital platforms. Its core offerings include graphic communications solutions, enterprise inkjet systems, packaging technologies, functional printing and micro 3D printing systems.

Kodak’s graphic communications segment serves commercial printers, packaging converters and publishing houses with offset plates, digital presses, workflow software and services designed to streamline production.