EASTMAN KODAK Reports Strong Second Quarter Earnings for Fiscal Year 2023
August 10, 2023
☀️Earnings Overview
On June 30th, 2023, EASTMAN KODAK ($NYSE:KODK) announced their earnings results for the second quarter of fiscal year 2023. Total revenue for the quarter was USD 295.0 million, an 8.1% decrease compared to the same period last year. Net income for the quarter however, rose by 75.0%, totaling USD 35.0 million.
Market Price
The stock opened at $5.3 and closed at the same price, down by 0.6% from the previous closing price of 5.3. This was an impressive performance considering the current market conditions. This was mainly driven by higher sales volume and cost savings initiatives implemented in the previous quarter. Eastman Kodak‘s CEO Jim Continenza stated that the company’s strong second quarter performance demonstrates that their structural changes are creating a more efficient and profitable organization.
He further commented that the company is well positioned to capitalize on the growth opportunities presented by the digital transformation market. This indicates that the company is on track to achieve its financial goals for the full year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Eastman Kodak. More…
| Total Revenues | Net Income | Net Margin |
| 1.17k | 57 | 8.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Eastman Kodak. More…
| Operations | Investing | Financing |
| 8 | -58 | -6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Eastman Kodak. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.22k | 1.05k | 14.8 |
Key Ratios Snapshot
Some of the financial key ratios for Eastman Kodak are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.3% | 25.6% | 11.5% |
| FCF Margin | ROE | ROA |
| -2.1% | 6.8% | 3.8% |
Analysis
At GoodWhale, we recently analyzed the financials of Eastman Kodak. Based on our risk rating, Eastman Kodak is a high risk investment in terms of both financial and business aspects. Specifically, we identified three risk warnings in their income sheet, balance sheet, and cashflow statement. These risks should be taken into consideration before investing in Eastman Kodak. If you are interested in learning more about these risk warnings, or would like more detailed information regarding the financials of Eastman Kodak, register with us to check it out. Our team is always here to provide you with the most up-to-date and accurate information so that you can make informed decisions when investing. More…
Peers
In the world of photography, there is stiff competition among providers of film, processing, and other related services. Two of the biggest competitors in this market are Eastman Kodak Co and Universe Printshop Holdings Ltd. Both companies have a long history in the industry and are well-known for their high-quality products and services. Kodak has traditionally been a leader in the market, but Universe Printshop has been gaining ground in recent years. Both companies offer a wide range of products and services, and both have loyal customer base.
However, Kodak has been facing some challenges in recent years, and Universe Printshop has been capitalizing on this. The two companies are locked in a fierce battle for market share, and it is anyone’s guess who will come out on top.
– Universe Printshop Holdings Ltd ($SEHK:08448)
Universe Printshop Holdings Ltd is a printing company that specializes in the production of high-quality printed materials. The company has a market cap of 35.1M as of 2022 and a return on equity of -14.36%. The company’s products are used in a variety of industries, including advertising, marketing, and publishing. Universe Printshop Holdings Ltd is a publicly traded company listed on the Hong Kong Stock Exchange.
– Billboard Ad Or ($LTS:0OGR)
As of 2022, Billboard Ad Or has a market cap of 2.92M and a ROE of 4.47%. The company is in the business of providing advertising services to businesses.
Summary
Investors are considering Eastman Kodak with a cautiously optimistic outlook. The company experienced a 8.1% decline in revenue for the second quarter of 2023 compared to the same period in the previous year, but net income was up 75.0%. While this may have been driven by cost-cutting measures, it indicates that Eastman Kodak is still capable of generating profits despite a decrease in overall sales. Investors will want to keep an eye on the company’s future performance in order to determine its potential for long-term growth.
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