Eastman Kodak Company (KODK) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 3% YoY to $276M; gross profit increased 7% to $73M, GAAP net income rose to $21M from $13M, and Operational EBITDA increased to $31M from $29M.

• AM&C led growth, while Print faced lower volumes and higher input costs; cash and cash equivalents were $317M at quarter-end, up $27M QoQ.

• Nine-month revenue rose 9% to $852M; net income was $22M versus a $20M loss, and Operational EBITDA increased $42M to $82M.

Financial highlights

• Q3 revenue was $276M vs. $269M; gross profit was $73M vs. $68M, and gross margin was 26% vs. 25%.

• Q3 GAAP net income was $21M vs. $13M, driven by higher gross profit and lower interest expense, partly offset by higher SG&A; Q3 operating income was $15M vs. $19M.

• Nine-month gross profit rose to $212M from $165M; operating income was $29M vs. $3M, while SG&A increased $24M to $151M.

• Nine-month operating cash flow was a $9M use vs. $9M provided in 2025; cash, cash equivalents and restricted cash declined to $413M from $442M at year-end 2025.

• TTM net loss was $86M vs. net income of $6M in Q3 2025.

Outlook and guidance

• Continued investment in core businesses aims to support profitable growth; priorities include sustaining cash flow and profitability and achieving strategic objectives.

• 2026 capital expenditures are expected to total $30M–$35M; $18M was spent in the first nine months.

• 2026 restructuring actions are expected to generate $5M in annual cash savings, with most savings expected by Q4 2026.

• Remaining KRIP investment assets are expected to convert primarily to cash in 2027 and 2028; an estimated $6M net cash reversion is expected in Q4 2026 or Q1 2027.