| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 269.00 | 2.3% | 3.1% |
| Total Income | 269.00 | 2.3% | 3.1% |
| Expenditure | 250.00 | 6.7% | 7.1% |
| PBT | 16.00 | 166.7% | 23.8% |
| Net Profit | 13.00 | 150.0% | 27.8% |
| OPM | 7.06% | 8.96pp | 10.13pp |
| NPM | 4.83% | 14.72pp | 2.06pp |
| EPS | -0.08 | 77.8% | 150.0% |
Kodak Reports Q3 2025 Financial Results; Operational EBITDA Increased $28M
04 May 2026 · 4 May, 7:45 am
Summary
Eastman Kodak Company reported its Q3 2025 financial results, with consolidated revenues of $269 million, a 3% increase compared to the same period in 2024. Gross profit saw a significant increase of 51%, reaching $68 million. Operational EBITDA also improved substantially, increasing by $28 million to $29 million. The company's cash balance increased to $168 million, and the expected pension reversion amount increased from $500 million to $600 million.
Key Highlights
- 1
Eastman Kodak Company reported consolidated revenues of $269 million for Q3 2025, an increase of 3 percent compared to Q3 2024.
- 2
Advanced Materials & Chemicals (AM&C) revenues were $82 million, up 15 percent compared to $71 million in Q3 2024.
- 3
Gross profit increased by 51 percent to $68 million, compared with $45 million for Q3 2024.
- 4
The gross profit percentage increased to 25 percent, compared with 17 percent for Q3 2024.
- 5
Operational EBITDA increased by $28 million to $29 million, compared with $1 million for Q3 2024.
- 6
The company's cash balance at the end of the quarter was $168 million, an increase of $13 million from June 30, 2025.
- 7
The expected pension reversion amount increased from $500 million to $600 million.
Management Comments
Jim Continenza
Kodak delivered strong performance in the third quarter, delivering significant year-over-year increases in gross profit and Operational EBITDA while continuing to focus on driving operational excellence. Our AM&C business continued to grow both revenue and profitability and that group’s cGMP pharmaceutical manufacturing facility is now certified to manufacture and sell regulated products, with the goal of expanding our product offering over time. More recently, our AM&C unit’s film business launched still films, which will be sold directly to distributors, giving Kodak greater control over our participation in the consumer film market and providing distributors, retailers and consumers with more stable pricing and a broader, more reliable supply. We also recently met our obligations to our U.S. pension plan participants as part of our pension reversion plan and established a new pension plan for employees that is identical to active employee benefit features of the prior plan. By managing the process patiently and carefully we have obtained favorable annuity pricing and investment returns, which resulted in the expected reversion amount to increase from $500 million to $600 million. The next step will be to use the surplus assets from the reversion to pay down debt and strengthen our balance sheet. The reversion frees us up to continue accelerating our plan to create a strong, growing Kodak for our employees and shareholders.
David Bullwinkle
In Q3 we continued to improve our use of cash compared to Q2, increasing our cash balance to $168 million from $155 million at the end of the second quarter. We have taken decisive steps to strengthen and reduce debt levels on Kodak’s balance sheet. The cash from the pension reversion will reduce our term debt to $200 million, lowering interest expense and improving liquidity, resulting in our healthiest balance sheet in years. We have confidence that the continued execution of our plan will provide the liquidity to fulfill our obligations. We remain committed to a disciplined approach to cash management, driving operational efficiencies and margin improvement to deliver sustainable, long-term value for our shareholders.
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