Q1 2024 Earnings Summary
Reported on Mar 17, 2025 (After Market Close)
Pre-Earnings Price$4.73Last close (May 9, 2024)
Post-Earnings Price$4.74Open (May 10, 2024)
Price Change
$0.01(+0.21%)
- Improved Gross Profit Margin Despite Revenue Decline: Kodak's gross profit percentage increased from 18% in Q1 2023 to 20% in Q1 2024, despite a revenue decline of $29 million or 10%. This reflects successful pricing strategies and cost reductions, indicating enhanced operational efficiency and resilience in a challenging market. ,
- Strategic Investments in Innovation and Growth: The company is investing in long-term growth initiatives, particularly in digital print technology and Advanced Materials & Chemicals. Kodak is preparing to showcase a range of new products at Drupa, demonstrating a commitment to innovation and positioning itself as a growth company. ,
- Strong Cash Generation and Improved Cash Position: Kodak generated $17 million in cash from operating activities in Q1 2024, an improvement of $3 million over the prior year. The cash balance increased to $262 million, enhancing the company's ability to fund operations and invest in future growth opportunities. ,
- Revenue declined by $29 million or 10% in Q1 2024 compared to the prior year quarter, indicating a significant drop in sales.
- Operational EBITDA decreased from $9 million in the prior year quarter to $4 million in Q1 2024, reflecting a decline of $5 million or approximately 56%, highlighting reduced profitability.
- Excluding certain items, net income decreased by $12 million from $26 million in the prior year quarter to $14 million in Q1 2024, showing a substantial drop in earnings.