Pulling SEC filings + quote and writing the call…

EASTMAN KODAK CO
Next earnings Aug 10, 2026
Last earnings -2.5% on 2026-05-07
A cash-rich turnaround story trading at 0.9x sales — but FY25 swung to a $128M loss and the core Print business is shrinking.
Kodak's FY2025 numbers tell a confusing story that the filing helps decode. Revenue grew a modest 2.5% to $1.07B, but net income collapsed from +$102M to -$128M and diluted EPS swung to -$1.78. Operating income was exactly $0 and gross margin sits at just 21.7%. Yet operating cash flow exploded to $480M (from ~$7M) — a divergence this large between earnings and cash flow signals large non-cash charges (likely pension/legacy liability remeasurements) rather than operating strength, and the MD&A's silence on a clean operating-cash explanation means the headline figure should not be taken at face value.
Sources: SEC EDGAR (CIK 0000031235, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 2:38:21 PM.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.15B | $1.21B | $1.12B | $1.04B | $1.07B |
| Gross profit | $164M | $170M | $210M | $203M | $232M |
| Operating income | -$46.0M | -$26.0M | $4.00M | -$7.00M | $0.00 |
| Net income | $24.0M | $26.0M | $75.0M | $102M | -$128M |
| Diluted EPS | $0.27 | $0.16 | $0.67 | $0.90 | -$1.78 |
| Net margin | 2.1% | 2.2% | 6.7% | 9.8% | -12.0% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Annual meeting voting results disclosed; routine governance update.
Q1 2026 results filed; ongoing tariff/Print segment headwinds noted.
Q1 2026 results filed; ongoing tariff/Print segment headwinds noted.
Proxy statement: director slate and exec compensation for 2026 vote.
FY25 swung to -$128M loss (EPS -$1.78); LT debt cut 55%, cash +68%.
FY25 swung to -$128M loss (EPS -$1.78); LT debt cut 55%, cash +68%.
Executive officer change disclosed; leadership transition.
Executive officer change disclosed; further C-suite transition.
Other material event disclosed with exhibits; non-earnings update.
1047 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
| 2026-05-19 | SILECK MICHAEL Director | Exercise | 16.4K | |
| 2026-05-19 | Bovenzi David Director | Exercise | 16.4K | |
| 2026-05-17 | Michaels Richard T CAO and Corp. Controller | Exercise | 10.0K | |
| 2026-05-17 | Michaels Richard T CAO and Corp. Controller | Tax | 3.65K @ $9.69 | $35.3K |
| 2026-05-17 | Bullwinkle David E CFO and Senior Vice President | Exercise | 16.7K | |
| 2026-05-17 | Bullwinkle David E CFO and Senior Vice President | Tax | 6.01K @ $9.69 | $58.2K |
| 2026-05-17 | Bullwinkle David E CFO and Senior Vice President | Exercise | 50.0K | |
| 2026-05-17 | Bullwinkle David E CFO and Senior Vice President | Tax | 18.0K @ $9.69 | $175K |
| 2026-05-17 | Byrd Roger W. General Counsel, Sec., SVP | Exercise | 8.33K | |
| 2026-05-17 | Byrd Roger W. General Counsel, Sec., SVP | Tax | 2.03K @ $9.69 | $19.7K |
| 2026-05-17 | Byrd Roger W. General Counsel, Sec., SVP | Exercise | 25.0K | |
| 2026-05-17 | Byrd Roger W. General Counsel, Sec., SVP | Tax | 6.09K @ $9.69 | $59.0K |
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.