Eastman Kodak Company (KODK) investor relations material

Executive summary

• Achieved four consecutive quarters of year-over-year growth in revenue, gross profit, and operational EBITDA, reflecting stability and expansion driven by investments in product development, manufacturing infrastructure, and R&D.

• Revenues for Q2 2026 were $311 million, up 18% year-over-year; six-month revenues were $576 million, up 13% year-over-year, driven by improved pricing and higher volumes in Print and Advanced Materials & Chemicals.

• Net income for Q2 2026 was $17 million, reversing a net loss of $26 million in Q2 2025; six-month net earnings were $1 million, compared to a net loss of $33 million in the prior year period.

• Focused on leveraging core strengths, executing long-term plans, and investing in innovation and R&D to support growth initiatives.

Financial highlights

• Q2 2026 revenue was $311 million, up 18% year-over-year; gross profit was $82 million, up 61%; gross margin improved to 26% from 19%.

• Operational EBITDA reached $36 million, a 300% increase from Q2 2025; Print segment Operational EBITDA improved by $12 million, Advanced Materials & Chemicals by $14 million.

• GAAP net income was $17 million, compared to a net loss of $26 million in Q2 2025; basic and diluted EPS for Q2 2026 were $0.13, compared to $(0.36) in Q2 2025.

• Cash, cash equivalents, and restricted cash totaled $388 million at June 30, 2026, down from $442 million at year-end 2025; cash balance at quarter-end was $290 million, mainly due to term loan repayments.

• Long-term debt reduced to $108 million at June 30, 2026, from $208 million at year-end 2025; total debt to EBITDA improved to 1x from 23x year-over-year.

Outlook and guidance

• Emphasized continued focus on growth, innovation, and leveraging industrial manufacturing strengths and core competencies.

• Management expects continued focus on pricing actions, operational efficiencies, and innovation in Print and Advanced Materials & Chemicals to drive future growth.

• Capital expenditures for 2026 are projected at $40–$45 million.

• Liquidity is considered adequate to fund operations and obligations for at least the next twelve months.

• Expect pension income to remain below prior year levels throughout 2026 due to KRIP plan termination.