Eastman Kodak (NYSE:KODK) Issues Quarterly Earnings Results

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

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

Eastman Kodak stock traded down $2.76 during trading hours on Friday, reaching $11.39. 2,953,580 shares of the stock were exchanged, compared to its average volume of 1,247,486. The company has a current ratio of 3.14, a quick ratio of 2.32 and a debt-to-equity ratio of 0.34. Eastman Kodak has a twelve month low of $4.94 and a twelve month high of $14.87. The company has a market cap of $1.11 billion, a P/E ratio of -6.06 and a beta of 1.66. The stock has a 50 day moving average of $10.09 and a two-hundred day moving average of $8.52.

Institutional Trading of Eastman Kodak

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Eastman Kodak by 8.1% in the first quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company’s stock valued at $1,108,000 after acquiring an additional 13,129 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Eastman Kodak by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,992 shares of the technology company’s stock worth $227,000 after purchasing an additional 1,566 shares during the last quarter. Empowered Funds LLC lifted its stake in Eastman Kodak by 4.2% during the first quarter. Empowered Funds LLC now owns 435,379 shares of the technology company’s stock worth $2,752,000 after purchasing an additional 17,621 shares during the last quarter. Creative Planning boosted its holdings in shares of Eastman Kodak by 3.4% in the 2nd quarter. Creative Planning now owns 52,090 shares of the technology company’s stock valued at $294,000 after purchasing an additional 1,726 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Eastman Kodak by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 97,705 shares of the technology company’s stock valued at $552,000 after purchasing an additional 2,927 shares in the last quarter. Institutional investors and hedge funds own 33.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Eastman Kodak from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. Weiss Ratings lowered shares of Eastman Kodak from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

About Eastman Kodak

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.