Kodak Q3 revenue rises 3% as AM&C segment grows
Overview
US commercial print and advanced materials maker's Q3 revenue rose 3% yr/yr to $276 mln
Q3 net income increased to $21 mln, driven by higher gross profit and lower interest expense
Advanced Materials & Chemicals segment led growth, while Print segment revenue declined
Outlook
Company says it is focused on investing in core businesses and finishing the year with profitable growth
Result Drivers
AM&C SEGMENT GROWTH - Revenue growth was primarily driven by a 21% increase in Advanced Materials & Chemicals segment sales
IMPROVED PRICING AND VOLUME - Higher pricing and increased volume contributed to higher Operational EBITDA, partially offset by increased raw material and SG&A costs
LOWER INTEREST EXPENSE - Net income rose partly due to a reduction in interest expense compared to the prior period
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $276 mln | $311 mln (1 Analyst) |
Q3 Net Income | $21 mln | ||
Q3 Operational EBITDA | $31 mln |
Analyst Coverage
Wall Street's median 12-month price target for Eastman Kodak Co is $12.00, about 36.5% above its November 2 closing price of $8.79
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)