Kodak's Materials Business Grows 21% To $99 Million While Print Revenue Falls 7%
Third-quarter net income rose to $21 million from $13 million, and quarter-end cash climbed to $317 million.
Kodak's advanced materials and chemicals business grew 21% to $99 million in the third quarter, more than offsetting a 7% decline in print revenue to $165 million, the company said Tuesday in an 8-K filing. Total revenue rose 3% to $276 million, and net income reached $21 million, up from $13 million a year earlier.
Chemicals up, print down
Eastman Kodak, a Rochester, New York, manufacturer focused on commercial print and on advanced materials and chemicals, reported gross profit of $73 million against $68 million a year earlier. Print revenue was $177 million in the third quarter of 2025.
The segments diverged on Operational EBITDA, an adjusted earnings measure. Print fell to $1 million from $8 million, while advanced materials and chemicals rose to $21 million from $16 million. Company-wide, the measure reached $31 million, up from $29 million.
CEO Jim Continenza called the materials unit, Kodak's "primary growth engine," now its "fastest growing, most profitable unit." He said print "has performed well for the year to date despite challenging economic conditions."
Interest savings lift the bottom line
Kodak attributed the $8 million rise in net income mainly to higher gross profit and lower interest expense, which fell to $3 million from $18 million. Higher selling and administrative costs, tied to equity compensation and employee benefit accruals, partly offset the gain. Stock-based compensation was $8 million, against $1 million a year earlier.
Diluted earnings were $0.18 a share, compared with a loss of $0.08 a share in the year-earlier quarter.
Cash up $27 million, debt down
Kodak ended the quarter with $317 million in cash, up $27 million from June 30 and down $20 million from $337 million at the end of 2025. Operations generated $25 million in the quarter, and cash flow from operations for the year to date was break-even.
The year-to-date decline reflects $101 million in required term loan repayments and $18 million of capital spending, partly offset by $93 million from redeeming Kodak Retirement Income Plan reversion investments. Long-term debt stood at $108 million on September 30, down from $208 million at year-end 2025.
Continenza said Kodak will keep investing in its core businesses and aims to finish the year with profitable growth.
Sources
- 8-K Filing — EASTMAN KODAK CO (KODK) — SEC EDGAR
- Exhibit kodk-ex99_1.htm — EASTMAN KODAK CO 8-K exhibit — SEC EDGAR
