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Eastman Kodak (KODK)

Kodak is a global technology company focused on print and advanced materials & chemicals. Kodak provides industry-leading hardware, software, consumables and services primarily to customers in commercial print, packaging, publishing, manufacturing and entertainment. Kodak is committed to environmental stewardship and ongoing leadership in developing sustainable solutions. Kodak's broad portfolio of superior products, responsive support and world-class R&D make Kodak solutions a smart investment for customers looking to improve their profitability and drive growth.

Company profile

Ticker
KODK
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
1680382 Ontario Limited • Eastman Kodak Holdings B.V. • Da Hai (Shanghai) Trading Co Ltd • Eastman Kodak International Capital Company, Inc. • Eastman Kodak Sarl • Far East Development Ltd • FPC Inc. • Horsell Graphic Industries Ltd. • Kodak (Australasia) Pty. Ltd. • Kodak (China) Company Limited ...
IRS number
160417150

KODK stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 374M 374M 374M 374M 374M 374M
Cash burn (monthly) 16.33M 2.25M 6.33M 4.25M 14.33M 6.17M
Cash used (since last report) 46.95M 6.47M 18.21M 12.22M 41.21M 17.73M
Cash remaining 327.05M 367.53M 355.79M 361.78M 332.79M 356.27M
Runway (months of cash) 20.0 163.3 56.2 85.1 23.2 57.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 May 22 B Thomas Golisano RSU Common Stock Grant Acquire A No No 0 22,075 0 22,075
18 May 22 Jason Griffin New RSU Common Stock, par value $.01 Grant Acquire A No No 0 22,075 0 22,075
18 May 22 Kathleen B. Lynch RSU Common Stock, par value $.01 Grant Acquire A No No 0 22,075 0 22,075
18 May 22 Michael Sileck RSU Common Stock, par value $.01 Grant Acquire A No No 0 22,075 0 22,075
18 May 22 Katz Philippe D Common Stock, par value $.01 Grant Acquire A No No 0 11,000 0 142,496
18 May 22 Katz Philippe D RSU Common Stock, par value $.01 Grant Acquire A No No 0 22,075 0 22,075
17 May 22 B Thomas Golisano Common Stock Option exercise Acquire M No No 0 10,000 0 19,000
17 May 22 Jason Griffin New Common Stock, par value $.01 Option exercise Acquire M No No 0 10,000 0 85,894
17 May 22 Jason Griffin New RSU Common Stock, par value $.01 Option exercise Dispose M No No 0 10,000 0 0
17 May 22 Kathleen B. Lynch Common Stock, par value $.01 Option exercise Acquire M No No 0 10,000 0 10,000
50.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 123 125 -1.6%
Opened positions 24 33 -27.3%
Closed positions 26 27 -3.7%
Increased positions 44 27 +63.0%
Reduced positions 26 31 -16.1%
13F shares Current Prev Q Change
Total value 284.45M 419.5M -32.2%
Total shares 39.91M 45.69M -12.6%
Total puts 873.1K 1.39M -37.3%
Total calls 1.71M 1.29M +33.0%
Total put/call ratio 0.5 1.1 -52.9%
Largest owners Shares Value Change
GO EK Ventures IV 10.05M $80.94M 0.0%
Marx Moses 5.04M $40.05M 0.0%
Vanguard 3.95M $25.87M +4.0%
Kennedy Lewis Management 3.68M $24.14M +268.5%
BLK Blackrock 3.35M $21.92M -0.3%
UBS UBS Group AG - Registered Shares 1.6M $10.5M -33.2%
STT State Street 1.57M $10.31M +32.2%
Great Lakes Advisors 1.1M $7.22M -18.1%
D. E. Shaw & Co. 1.1M $7.17M +38.9%
Geode Capital Management 1.04M $6.82M +14.8%
Largest transactions Shares Bought/sold Change
Southeastern Asset Management 0 -9.35M EXIT
Kennedy Lewis Management 3.68M +2.68M +268.5%
GMT Capital 981.4K +981.4K NEW
UBS UBS Group AG - Registered Shares 1.6M -796.37K -33.2%
Millennium Management 43.27K -698.76K -94.2%
Marshall Wace 508.66K +508.66K NEW
STT State Street 1.57M +383.45K +32.2%
Susquehanna International 121.26K -315.23K -72.2%
Citadel Advisors 335.86K +313.95K +1432.9%
D. E. Shaw & Co. 1.1M +306.67K +38.9%

Financial report summary

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Competition
Applied Dna Sciences
Risks
  • Kodak’s business, financial condition and results of operations have been and may continue to be adversely affected by global public health pandemics, including the COVID-19 pandemic.
  • If Kodak is unable to continue successful development, funding, and commercialization of products in businesses upon which we are focused or do so within an acceptable timeframe, Kodak’s financial performance could be adversely affected.
  • The loss of one or more of Kodak’s key personnel, or our failure to attract and retain other highly qualified personnel in the future, could harm our business.
  • If Kodak cannot effectively anticipate or rapidly respond to technology trends and develop and market new products to respond to changing customer needs and preferences, our revenue, earnings and cash flow could be adversely affected.
  • If Kodak does not manage product reliability, yield and quality, our product launch plans may be delayed, our financial results may be adversely impacted, and our reputation may be harmed.
  • Aging manufacturing facilities and equipment could lead to failures of equipment and systems.
  • If Kodak fails to manage distribution of our products and services properly, our revenue, gross margins and earnings could be adversely impacted.
  • Cyber-attacks or other data security incidents that disrupt Kodak’s operations or result in the breach or other compromise of proprietary of confidential information about our workforce, our customers, or other third parties could disrupt our business, harm our reputation, cause us to lose customers, and expose us to costly regulatory enforcement and litigation, any of which could lead to material adverse effects on Kodak’s results of operations, business and financial condition.
  • Kodak’s inability to effectively complete and manage strategic transactions could adversely impact our business performance, including our financial results.
  • Failure to successfully manage the development and improvement of IT systems could diminish or delay any anticipated efficiencies and operational improvements, and our operations and business could be disrupted.
  • Weakness or worsening of global economic conditions could adversely affect Kodak’s financial performance and liquidity.
  • If the reputation of Kodak or its brand erodes significantly, it could have a material impact on our financial results.
  • Business disruptions could seriously harm Kodak’s future revenue and financial condition.
  • Kodak relies on third-party suppliers and service providers to support our manufacturing, logistics, and business operations and faces the risks associated with reliance on external business partners.
  • Due to the nature of the products we sell and Kodak’s worldwide distribution, Kodak is exposed to fluctuations in foreign currency exchange rates, interest rates and commodity costs which, together with tariffs that may be imposed, may adversely impact our results of operations and financial position.
  • Kodak faces additional costs and risks associated with our worldwide business operations.
  • An inability to provide competitive financing arrangements to Kodak’s customers or extension of credit to customers whose creditworthiness deteriorates could adversely impact our revenue, profitability and financial position.
  • Legal proceedings and governmental investigations associated with the U.S. International Development Finance Corporation announcement or in general could have a material adverse effect on our business operations and prospects, reputation, financial condition, results of operations and stock price.
  • Failure to comply with anti-corruption laws and regulations, anti-money laundering laws and regulations, economic and trade sanctions, and similar laws could have a materially adverse effect on Kodak’s reputation, results of operations or financial condition, or have other adverse consequences.
  • Failure to comply with privacy, data protection and cyber security laws and regulations could have a materially adverse effect on Kodak’s reputation, results of operations or financial condition.
  • Kodak is subject to environmental laws and regulations. Failure to comply with such laws and regulations or liabilities imposed as a result of such laws and regulations could have an adverse effect on our business, results of operations and financial condition.
  • Kodak may have additional tax liabilities.
  • Kodak’s future pension and other postretirement benefit plan costs and required level of contributions could be unfavorably impacted by changes in actuarial assumptions, market performance of plan assets and obligations imposed by legislation or pension authorities which could adversely affect our financial position, results of operations, and cash flow.
  • Kodak may be required to recognize impairments in the value of our goodwill and/or other long-lived assets which could adversely affect our results of operations.
  • The conversion of the Series B Preferred Stock, Series C Preferred Stock and 2021 Convertible Notes into shares of the Company’s common stock may dilute the value for the current holders of the Company’s common stock.
  • The holder of the Series C Preferred Stock owns a large portion of the voting power of the Company’s outstanding securities, and the holders of the Series C Preferred Stock and 2021 Convertible Notes each have the right to nominate one member for election to the Company’s Board. As a result, these holders may influence the composition of the Board and future actions taken by the Board.
  • The Company has registered, and has a duty to register, the resale of a large portion of our outstanding securities. The resale of the Company’s common stock, or the perception that such resale may occur, may adversely affect the price of our common stock.
  • The resale of a significant portion of the Company’s securities or certain accumulations or transfers of the Company’s securities could result in a change of control of the Company and the loss of favorable tax attributes.
  • The Company’s stock price has been and may continue to be volatile.
Management Discussion
  • For the year ended December 31, 2021, revenues improved approximately $121 million compared with the same period in 2020.  Volume increases within Traditional Printing ($49 million), Advanced Materials and Chemicals ($29 million), Digital Printing ($5 million), Brand ($2 million) and Other ($4 million), improved pricing in Advanced Materials and Chemicals ($9 million) and Traditional Printing ($7 million), and favorable foreign currency ($16 million) drove the revenue improvement. See segment discussions for additional details.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Bad
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