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Eastman Kodak Company Common New (KODK+0.81%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports consolidated revenues of $1.043 billion for 2024, a decrease of $74 million from the previous year. This decline was primarily attributed to lower volumes and unfavorable pricing in the Print segment.
The Print segment, which accounted for 71% of Kodak's total revenues, experienced an 11% decline in revenue, driven by reduced volumes in Prepress Solutions and Electrophotographic Printing Solutions.
Advanced Materials and Chemicals segment saw a 6% increase in revenue, driven by improved pricing and product mix in Industrial Film and Chemicals.
The Brand segment reported a slight increase in revenue, primarily due to higher volumes.
Kodak's gross profit decreased by $7 million, with lower margins in Advanced Materials and Chemicals and higher aluminum costs contributing to the decline.
Selling, general, and administrative expenses increased by $20 million, influenced by investments in IT systems and costs associated with the drupa trade show.
The company recorded a net income of $102 million, an increase from $75 million in the previous year.
Kodak's cash and cash equivalents decreased by $54 million, ending the year with $201 million.
The company continues to face challenges from global economic conditions, including inflation and geopolitical tensions, impacting customer demand and manufacturing costs.
Kodak's strategy focuses on leveraging its proprietary technologies in print and advanced materials, promoting film usage, and investing in automation to drive cost reductions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Eastman Kodak Company Common New annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.