Q2 2026 Eastman Kodak Co Earnings Call

August 4, 2026

Speaker #1: Good day, and thank you for standing by. Welcome to the Eastman Kodak second quarter 2026 earnings conference call. At this time, all participants are on a listen-only mode.

Operator: Good day. Thank you for standing by. Welcome to the Eastman Kodak Second Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Denise Goldbard. Please go ahead.

Speaker #1: be advised that these conferences are being recorded. I would now like to hand the conference over to your speaker today, Denise Goldbar. Please go ahead.

Speaker #2: Thank you, and good afternoon, everyone. I am Denise Goldbard, Eastman Kodak's Chief Marketing Officer, and welcome to Eastman Kodak's second quarter 2026 earnings call.

Denise Goldbard: Thank you. Good afternoon, everyone. I am Denise Goldbard, Eastman Kodak's Chief Marketing Officer. Welcome to Eastman Kodak's Q2 2026 earnings call. At 4:15 this afternoon, Kodak filed its Form 10-Q and issued its release on financial results for Q2 2026. You may access the presentation and webcast for today's call on our investor center at investor.kodak.com. During today's conference call, we will be making certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Investors are cautioned not to unduly rely on forward-looking statements, and such statements should not be read or understood as a guarantee of future performance or results.

Denisse Goldbarg: Thank you. Good afternoon, everyone. I am Denise Goldbard, Eastman Kodak's Chief Marketing Officer. Welcome to Eastman Kodak's Q2 2026 earnings call. At 4:15 this afternoon, Kodak filed its Form 10-Q and issued its release on financial results for Q2 2026. You may access the presentation and webcast for today's call on our investor center at investor.kodak.com. During today's conference call, we will be making certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Investors are cautioned not to unduly rely on forward-looking statements, and such statements should not be read or understood as a guarantee of future performance or results.

Speaker #2: At 4:15 this afternoon, Kodak filed its Form 10-Q. An issued its release on financial results for the second quarter of 2026. You may access the presentation and webcast for today's call on our investor center at investor.kodak.com.

Speaker #2: During today's conference call, we will be making certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the Safe Harbor Provisions for Forward-Looking Statements Contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Speaker #2: Investors are cautioned not to unduly rely on forward-looking statements. And such statements should not be read or understood as a guarantee of future performance or result.

Speaker #2: All forward-looking statements are based on Kodak's expectations and various assumptions. Future events or results may differ from those anticipated or expressed in the forward-looking statements.

Denise Goldbard: All forward-looking statements are based on Kodak's expectations and various assumptions. Future events or results may differ from those anticipated or expressed in the forward-looking statements. Important factors that could cause actual events or results to differ materially from these forward-looking statements include, among others, the risks, uncertainties, and other factors described in more detail in Kodak's filings with the U.S. Securities and Exchange Commission from time to time. All forward-looking statements attributable to Kodak or persons acting on its behalf only apply as of the date of this presentation and are expressly qualified in their entirety by the cautionary statements included or referenced in this presentation. Kodak undertakes no obligation to update or revise forward-looking statements or reflect events or circumstances that may arise after the date made or to reflect the occurrence of unanticipated events.

Denisse Goldbarg: All forward-looking statements are based on Kodak's expectations and various assumptions. Future events or results may differ from those anticipated or expressed in the forward-looking statements. Important factors that could cause actual events or results to differ materially from these forward-looking statements include, among others, the risks, uncertainties, and other factors described in more detail in Kodak's filings with the U.S. Securities and Exchange Commission from time to time. All forward-looking statements attributable to Kodak or persons acting on its behalf only apply as of the date of this presentation and are expressly qualified in their entirety by the cautionary statements included or referenced in this presentation. Kodak undertakes no obligation to update or revise forward-looking statements or reflect events or circumstances that may arise after the date made or to reflect the occurrence of unanticipated events.

Speaker #2: Important factors that could cause actual events or results to differ materially from these forward-looking statements include, among others, the risks, uncertainties, and other factors described in more detail in Kodak's filings with the U.S.

Speaker #2: Securities and Exchange Commission from time to time. All forward-looking statements attributable to Kodak or persons acting on its behalf only apply as of the date of this presentation and are expressly qualified in their entirety by the cautionary statements included or referenced in this presentation.

Speaker #2: Kodak undertakes no obligation to update or revise forward-looking statements or reflect events or circumstances that may arise after the date made or to reflect the occurrence of unanticipated events.

Speaker #2: In addition, the release just issued and the presentation provided contain certain measures that are deemed non-GAAP measures. Reconciliations to the most directly comparable GAAP measures have been provided with the release, and within the presentation and other documents on our website, in our investor center at investor.kodak.com.

Denise Goldbard: In addition, the release just issued and the presentation provided contains certain measures that are deemed non-GAAP measures. Reconciliations to the most directly comparable GAAP measures have been provided with the release and within the presentation and other documents on our website in our investor center at investor.kodak.com. Speakers on today's call are Jim Continenza, Kodak's Executive Chairman and Chief Executive Officer, and David Bullwinkle, Kodak's Chief Financial Officer and Senior Vice President. We will not be holding a formal Q&A during today's call. As always, the investor relations team is available for follow-up. I will now turn the call over to Jim. Thank you. Have a great day.

Denisse Goldbarg: In addition, the release just issued and the presentation provided contains certain measures that are deemed non-GAAP measures. Reconciliations to the most directly comparable GAAP measures have been provided with the release and within the presentation and other documents on our website in our investor center at investor.kodak.com. Speakers on today's call are Jim Continenza, Kodak's Executive Chairman and Chief Executive Officer, and David Bullwinkle, Kodak's Chief Financial Officer and Senior Vice President. We will not be holding a formal Q&A during today's call. As always, the investor relations team is available for follow-up. I will now turn the call over to Jim. Thank you. Have a great day.

Speaker #2: Speakers on today's call are Jim Continenza, Kodak's Executive Chairman, and Chief Executive Officer. And David Bullwinkle, Kodak's Chief Financial Officer and Senior Vice President.

Speaker #2: We will not be holding a formal Q&A during today's call. As always, the investor relations team is available for follow-up. I will now turn the call over to Jim.

Speaker #2: Thank you, and have a great day.

Speaker #3: Welcome, everyone. And thank you for joining the second quarter 2026 investor call for Eastman Kodak. If I had to summarize our performance in the second quarter, it would be stability and growth.

James V. Continenza: Welcome, everyone, and thank you for joining the Q2 2026 investor call for Eastman Kodak. If I had to summarize our performance in the Q2, it would be stability and growth. Kodak has delivered year-over-year improvement in key metrics for four consecutive quarters. We've done it by consistent focus on leveraging our core strengths and focusing on execution. Highlights for the Q2, consolidated revenues of $311 million compared with $263 million for Q2 2025, an increase of $48 million or 18%. Gross profit of $82 million, compared with $51 million for Q2 2025, an increase of $31 million or 61%. Operational EBITDA of $36 million, compared with $9 million for Q2 2025, an increase of $27 million or 300%. Total debt to EBITDA of one times in Q2 2026 versus total debt to EBITDA of 23 times in Q2 2025.

Speaker #3: Kodak has delivered year-over-year improvement in key metrics for four consecutive quarters. We've done it by consistent focus on leveraging our core strengths and focusing on execution.

Speaker #3: Highlights for the second quarter: consolidated revenues of $311 million compared with $263 million for Q2 2025, an increase of 48 million dollars or 18 percent.

Speaker #3: Gross profit of $82 million compared with $51 million for Q2 2025, an increase of $31 million or 61 percent. Operational EBITDA of $36 million compared with $9 million for Q2 2025, an increase of $27 million or 300 percent.

Speaker #3: Total debt-to-EBITDA of one times in Q2 2026 versus total debt-to-EBITDA of 23 times in Q2 2025. I don't want to just breeze through these metrics again.

James V. Continenza: I don't want to just breeze through these metrics. The growth in revenue, growth in gross profit, growth in operational EBITDA, the continuing deleveraging of the business as reflected in the balance sheet, have all been part of our long-term plan over the last seven years. We've continued to focus and execute on our plan, we're going to continue to focus and execute and innovate new products in the future. Moving on to segments of the business. Several years ago, part of our business we were vacating was AM&C. As you recall, we've invested heavily back in it. This is our core competency. This is what we do. This is our know-how. This is where our people shine. We are the best in the world at layering and coating. It's just what we do. When we get into AM&C, I'm proud to see the results.

Speaker #3: The growth in revenue, growth in gross profit, growth in operational EBITDA—the continuing delivery of the business—has flowed through to the balance sheet. It's all been part of our long-term plan over the last seven years.

Speaker #3: We've continued to focus and execute on our plan, and we're going to continue to focus and execute and innovate new products in the future.

Speaker #3: Moving on to segments of the business. Several years ago, right, part of our business, we were vacating. Was AM&C. As you recall, we've invested heavily back in it.

Speaker #3: This is our core competencies. This is what we do. This is our know-how. This is where our people shine. We are the best in the world at layering and coning.

Speaker #3: It's just what we do. When we get into AM&C, I'm proud to see the results. I'm going to walk through some of them now.

James V. Continenza: I'm going to walk through some of them now. Advanced Materials and Chemicals, revenues were $105 million, compared with $75 million for Q2 2025, an increase of $30 million or 40%. Still Film, we now offer a range of Kodak films sold directly to distributors to stabilize the market and meet customer demand. Motion Picture Film, this is a big one for me. When we look at where we are today and the resurgence we've seen and the demand, I'm so proud of the decision from my board all the way down to the leadership to really reinvest in this. I want to thank some key directors, Christopher Nolan, Steven Spielberg, and others, for helping us understand the importance and pushing and supporting it. Currently out are two blockbuster movies that were shot on Kodak film.

Speaker #3: Advanced Retails and Chemicals revenues were $105 million, compared with $75 million for Q2 2025—an increase of $30 million, or 40 percent. Still Film: we now offer a range of Kodak films sold directly to distributors to stabilize the market and meet customer demand.

Speaker #3: Motion Picture Film, this is a big one for me. When we look at where we are today and the resurgence we've seen and the demand, I'm so proud of the decision from my board all the way down to the leadership to really reinvest in this.

Speaker #3: And I want to thank some key directors, Christopher Nolan, Steven Spielberg, and others, for helping us understand the importance and pushing and supporting it.

Speaker #3: Currently out are two blockbuster movies that were shot on Kodak Film: The Odyssey, which was shot on 65 millimeter, and played on 70 millimeter, at IMAX theaters.

James V. Continenza: The Odyssey" was shot on 65mm and played on 70mm at IMAX theaters. You have to see it. That's all I'm going to tell you. Steven Spielberg, "The Closer Day," again, phenomenal movie, shot on Kodak film, that utilized our new VISION3 AHU film structure. We're glad to see the resurgence coming back into the industry and the appreciation we're seeing even of movie buffs and movie fans. Continuing on AM&C. Let me give you an update on pharma. Kodak launched its first pharmaceutical web store, an important part of our strategic growth, adding saline products to the portfolio, continuing to work towards Class II certification to manufacture more complex, higher-margin products. We continue to invest in our battery coating.

Speaker #3: You have to see it. That's all I'm going to tell you. Steven Spielberg just closed her day. Again, phenomenal movie, shot on Kodak Film.

Speaker #3: It utilized our new Vision 3 AHU film structure. And we're glad to see, you know, the resurgence coming back into the industry. And the appreciation we're seeing even of movie buffs and movie fans.

Speaker #3: Continuing on AM&C, let me give you an update on pharma. Kodak launched its first pharmaceutical webstore. An important part of our strategic growth, adding saline products to the portfolio, continuing to work towards class 2 certification to manufacture more complex, higher-margin products.

Speaker #3: We continue to invest in our battery coating. We're putting CapEx into the machine to add additional capabilities, such as coating electrodes at a large scale, and using our pilot facility to help other customers scale new technologies.

James V. Continenza: We're putting CapEx into the machine to add additional capabilities, such as coating electrodes at a large scale, and using our pilot facility to help other customers scale new technologies. Moving on to now our largest division, Commercial Print. We continue to see growth in our Commercial Print business. Print revenues were $195 million compared with $178 million Q2 2025, an increase of $17 million or 10%. Growth is remarkable in a competitive marketplace that's also dealing with shortage in supply, high costs, inflation. We continue to deliver all over the globe in all three markets that we manufacture. The performance you're seeing in Commercial Print reflects the superiority of our products and service, particularly when we have a level playing field. In these markets today, with wars, supply, inflation, we continue to deliver and support and take care of our customers. Our next steps, focus.

Speaker #3: Moving on to now our largest division, commercial print. We continue to see growth in our commercial print business. Print revenues were $195 million compared with $178 million Q2 2025, an increase of 17 million dollars or 10 percent.

Speaker #3: Growth is remarkable in a competitive marketplace that's also dealing with shortage in supply, high cost, inflation. We continue to deliver an all-over-the-globe and all-three markets that we manufacture.

Speaker #3: The performance you're seeing in commercial print reflects a superiority of our products and service particularly when we have a level playing field. And in these markets today, with wars, supplies, inflation, we continue to deliver and support and take care of our customers.

Speaker #3: Our next steps: focus. We have to focus on growth. We've been saying that for the last few quarters. We have built a stable growing business.

James V. Continenza: We have to focus on growth. We've been saying that for the last few quarters. We have built a stable, growing business. We are solidly in control of our destiny. We continue to work for shareholders, employees, and customers. We are building momentum. We will continue to capitalize on our strengths as an industrial manufacturer. To accelerate our investment in R&D, we acquired an R&D division to help us focus on innovation, efficiency, and quality control. Now I'm going to turn it over to Dave Bullwinkle to discuss our financial results.

Speaker #3: We are solidly in control of our destiny. We continue to work for shareholders, employees, and customers. We are building momentum, and we will continue to capitalize on our strengths.

Speaker #3: As an industrial manufacturer, we accelerate our investment in R&D. We acquired an R&D division to help us focus on innovation, efficiency, and quality control.

Speaker #3: Now I'm going to turn it over to David Bullwinkle, to discuss our financial results.

Speaker #4: Thanks, Jim. And welcome to the call, everybody. Thank you for joining us today. This afternoon, the company filed its Form 10-Q for the quarter ended June 30, 2026.

David Bullwinkle: Thanks, Jim, and welcome to the call, everybody. Thank you for joining us today. This afternoon, the company filed its Form 10-Q for the quarter ended 30 June 2026. As I have done consistently, I encourage you to review the filing in its entirety along with today's earnings release, which provides additional detail on the results and metrics discussed during this call. Let's begin with the financial highlights for the second quarter of 2026. Once again, Kodak delivered a strong quarter with significant year-over-year growth in revenue, gross profit, and operational EBITDA, despite continued volatility in commodity costs and ongoing inflationary pressures. This performance reflects our ability to navigate a challenging business environment by focusing on operational excellence and improving efficiency. Notably, this marks our fourth consecutive quarter of year-over-year growth across all three metrics.

Speaker #4: As I have done consistently, I encourage you to review the filing in its entirety along with today's earnings release. Which provides additional detail on the results and metrics discussed during this call.

Speaker #4: Let's begin with the financial highlights for the second quarter of 2026. Once again, Kodak delivered a strong quarter with significant year-over-year growth in revenue, gross profit, and operational EBITDA, despite continued volatility in commodity costs and ongoing inflationary pressures.

Speaker #4: This performance reflects our ability to navigate a challenging business environment by focusing on operational excellence and improving efficiency. Notably, this marks our fourth consecutive quarter of year-over-year growth across all three metrics.

Speaker #4: Highlights of our second quarter performance include: revenue of $311 million up 48 million dollars or 18 percent from the prior year quarter, primarily driven by robust growth in print and advanced materials and chemicals.

David Bullwinkle: Highlights of our second quarter performance include revenue of $311 million, up $48 million or 18% from the prior year quarter, primarily driven by robust growth in print, Advanced Materials and Chemicals. Our gross profit was $82 million, compared with $51 million in the prior year quarter, an increase of $31 million or 61%. This strong growth was driven by favorable pricing and higher volumes in print and Advanced Materials and Chemicals, despite higher commodity costs for aluminum and silver. Our gross profit percentage was 26% compared with 19% in the prior year quarter, reflecting strong operational execution. Our GAAP net income was $17 million, compared with a GAAP net loss of $26 million in the prior year quarter, representing a $43 million improvement.

Speaker #4: Our gross profit was $82 million compared with $51 million in the prior year quarter, an increase of 31 million dollars or 61 percent. This strong growth was driven by favorable pricing and higher volumes in print and advanced materials and chemicals, despite higher commodity costs for aluminum and silver.

Speaker #4: Our gross profit percentage was 26 percent compared with 19 percent in the prior year quarter, reflecting strong operational execution. Our gap net income was $17 million compared with a gap net loss of $26 million in the prior year quarter, representing a 43 million dollar improvement.

Speaker #4: Key drivers of the year-over-year improvement in gap net income include: a $20 million increase in earnings from operations, reflecting strong growth in revenue and gross profit; a $9 million reduction in interest expense which is driven by the significant reduction in our term loan debt; and a $28 million improvement in other income and charges net, driven primarily by the absence of asset impairment charges in the current year quarter versus a $17 million charge in the prior year quarter.

David Bullwinkle: Key drivers of the year-over-year improvement in GAAP net income include a $20 million increase in earnings from operations, reflecting strong growth in revenue and gross profit, a $9 million reduction in interest expense, which is driven by the significant reduction in our term loan debt, and a $28 million improvement in other income and charges net, driven primarily by the absence of asset impairment charges in the current year quarter versus a $17 million charge in the prior year quarter. These benefits were partially offset by an $11 million decline in non-cash pension income following the termination of the KRIP pension plan in Q4 of 2025. As we have previously communicated, we expect pension income to remain below prior year levels throughout 2026 as a result of the KRIP plan termination and asset reversion.

Speaker #4: These benefits were partially offset by an $11 million decline in non-cash pension income following the termination of the CRIP pension plan in the fourth quarter of 2025.

Speaker #4: As we have previously communicated, we expect pension income to remain below prior year levels throughout 2026 as a result of the CRIP plan termination and asset reversion.

Speaker #4: Our operational EBITDA was 36 million dollars compared with $9 million in the prior year quarter, an improvement of 27 million dollars. This increase was primarily driven by improved pricing and higher volumes, which more than offset increases in aluminum and silver costs as well as higher SG&A expenses primarily related to the net change in employee benefit reserves and corporate infrastructure costs.

David Bullwinkle: Our operational EBITDA was $36 million, compared with $9 million in the prior year quarter, an improvement of $27 million. This increase was primarily driven by improved pricing and higher volumes, which more than offset increases in aluminum and silver costs, as well as higher SG&A expenses, primarily related to the net change in employee benefit reserves and corporate infrastructure costs. These results reflect the benefits of the actions we have taken to strengthen our balance sheet and create long-term shareholder value. Now let's turn to our financial highlights for H1 of 2026. We reported revenue of $576 million, an increase of $66 million or 13% year-over-year. Currency fluctuations had a $7 million favorable impact on revenue. Our gross profit was $139 million, compared with $97 million in the prior year period, an increase of $42 million or 43%.

Speaker #4: These results reflect the benefits of the actions we have taken to strengthen our balance sheet and create long-term shareholder value. Now, let's turn to our financial highlights for the first half of 2026.

Speaker #4: We reported revenue of $576 million and increase of 66 million dollars or 13 percent year over year. Currency fluctuations had a $7 million favorable impact on revenue.

Speaker #4: Our gross profit was $139 million compared with $97 million in the prior year period, an increase of 42 million dollars or 43 percent. Our gross profit percentage was 24 percent compared to 19 percent in the prior year period.

David Bullwinkle: Our gross profit percentage was 24% compared to 19% in the prior year period. The company's GAAP net income for the year-to-date period was $1 million, compared with a GAAP net loss of $33 million in the prior year period, representing a $34 million increase, primarily driven by significant improvements in operating earnings, lower interest expense, and the absence of asset impairment charges compared to the prior year period, partially offset by lower pension income. The company's operational EBITDA was $51 million, compared with $11 million in the prior year period, an increase of $40 million, primarily driven by improved pricing and higher volumes, which again more than offset higher commodity costs as well as increased SG&A expenses, as explained earlier. Overall, our Q2 and H1 results demonstrate continued momentum across the business, reflecting improved profitability and the ongoing benefits of our initiatives to strengthen the balance sheet.

Speaker #4: The company's gap net income for the year-to-date period was $1 million compared with a gap net loss of $33 million in the prior year period, representing a 34 million dollar increase primarily driven by significant improvements in operating earnings, lower interest expense, and the absence of asset impairment charges compared to the prior year period, partially offset by lower pension income.

Speaker #4: The company's operational EBITDA was $51 million compared with $11 million in the prior year period, an increase of 40 million dollars primarily driven by improved pricing and higher volumes, which again more than offset higher commodity costs as well as increased SG&A expenses, as explained earlier.

Speaker #4: Overall, our second quarter and first half results demonstrate continued momentum across the business, reflecting improved profitability and the ongoing benefits of our initiatives to strengthen the balance sheet.

Speaker #4: Turn into cash in our liquidity. We ended the second quarter with $290 million of unrestricted cash, down 47 million dollars from December 31, 2025.

David Bullwinkle: Turning to cash and our liquidity, we ended the Q2 with $290 million of unrestricted cash, down $47 million from 31 December 2025. However, you should note this decline primarily reflects required term loan repayments partially offset by cash proceeds received from the redemption of KRIP investment assets. Let me briefly highlight the key drivers of our quarter-end cash position. First, we received $41 million in cash proceeds during the quarter from the redemption of hedge fund investments related to the KRIP pension reversion. Year to date through 30 June 2026, cumulative proceeds totaled $87 million. Second, consistent with the term loan amendment, we made an additional $50 million principal payment on our higher rate term loans in June, bringing total principal repayments to $100 million for the year-to-date period.

Speaker #4: However, we should note this decline primarily reflects required term loan repayments, partially offset by cash proceeds received from the redemption of CRIP investment assets.

Speaker #4: Let me briefly highlight the key drivers of our quarter-end cash position. First, we received $41 million in cash proceeds during the quarter from the redemption of hedge fund investments related to the CRIP pension reversion.

Speaker #4: Year to date, through June 30, 2026, cumulative proceeds totaled $87 million. Second, consistent with the term loan amendment, we made an additional $50 million principal payment on our higher-rate term loans in June, bringing total principal repayments to $100 million for the year-to-date period.

Speaker #4: These repayments were primarily funded through the CRIP asset redemptions and further strengthened our balance sheet while reducing future interest expense. As a result, our net cash position increased to $180 million at June 30, 2026, from $128 million at December 31, 2025.

David Bullwinkle: These repayments were primarily funded through the KRIP asset redemptions and further strengthen our balance sheet while reducing future interest expense. As a result, our net cash position increased to $180 million at 30 June 2026, from $128 million at 31 December 2025. This is an improvement of $52 million that reflects the continued strengthening of our financial position. Finally, working capital was impacted by a $37 million increase in inventory. The majority of this increase occurred within our AM&C segment during Q1, as we previously reported, and was driven primarily by significantly higher silver prices, which were more than double year-end levels, as well as an increase in the volume of silver we carry on the balance sheet due to supply terms. Inventory levels also increased as we built product ahead of a planned Q2 maintenance shutdown.

Speaker #4: This is an improvement of $52 million that reflects the continued strengthening of our financial position. Finally, working capital was impacted by a $37 million increase in inventory.

Speaker #4: The majority of this increase occurred within our AM&C segment during the first quarter as we previously reported. And was driven primarily by significantly higher silver prices which were more than double year-end levels as well as an increase in the volume of silver we carry on the balance sheet due to supply terms.

Speaker #4: Inventory levels also increased as we built product ahead of a planned second-quarter maintenance shutdown. As I conclude my remarks, I would like to personally reflect on my experiences over the years as Kodak progressed through this remarkable transformation.

David Bullwinkle: As I conclude my remarks, I would like to personally reflect on my experiences over the years as Kodak progressed through this remarkable transformation. I've seen the transformation of Kodak over many years, and I'm proud of the progress we have made. Our strong performance over recent quarters has been the result of our commitment to executing our long-term plan. I'm excited about the next phase of our turnaround as we shift our focus to growth. Thank you for your time and attention. I'll now turn the call back over to Jim.

Speaker #4: I've seen the transformation of Kodak over many years and I'm proud of the progress we have made. Our strong performance over recent quarters has been the result of our commitment to executing our long-term plan.

Speaker #4: I'm excited about the next phase of our turnaround as we shift our focus to growth. Thank you for your time and attention. And I'll turn the call back over to Jim.

Speaker #1: Thank you, Dave. In summary, Kodak has built a stable growth business and delivered four consecutive quarters of strong year-over-year improvements, such as year-over-year growth in revenue, year-over-year growth in gross profit, and year-over-year growth in operational EBITDA. I want to remind everyone that our growth principles are strategically leveraging our core competencies, IP, and infrastructure.

James V. Continenza: Thank you, Dave. In summary, Kodak has built a stable growth business and delivered four consecutive quarters of strong year-over-year improvements, such as year-over-year growth in revenue, year-over-year growth in gross profit, year-over-year growth in operational EBITDA. Reminding everyone our growth principles are strategically leveraging our core competencies, IP and infrastructure, emphasizing excellence in execution, focus on industrial manufacturing businesses in growth segments with a high barrier to entry, prioritizing opportunities focusing on ROI and potential growth. With that, I want to thank everyone. I want to thank our shareholders for their patience. I want to thank our board for their participation, always supportive. I want to thank my leadership team for executing on this plan and all the employees at Kodak for giving it everything they have to bring in the company where it is today. Thank you and goodbye.

Speaker #1: Emphasizing excellent in execution. Focus on industrial manufacturing businesses in growth segments with a high barrier to entry. And prioritizing opportunities focusing on ROI and potential growth.

Speaker #1: With that, I want to thank everyone. I want to thank our shareholders for their patience, and I want to thank our board for their participation—always supportive. I want to thank my leadership team for executing on this plan, and all the employees at Kodak for giving it everything they have to bring the company where it is today.

Speaker #1: Thank you and goodbye.

Operator: Thank you, ladies and gentlemen. This concludes today's presentation. We thank you for your participation. You may now disconnect and have a wonderful day.

Q2 2026 Eastman Kodak Co Earnings Call

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