Kodak reports Q2 EPS (36c) vs 23c last year

Reports Q2 revenue $263M vs $267M last year. “In the second quarter, Kodak (KODK) continued to make progress against our long-term plan despite the challenges of an uncertain business environment,” said Jim Continenza, Kodak’s Executive Chairman and CEO. “While tariffs did not have a material impact on our business in Q2, we are assessing the potential impact of new tariffs going forward. It’s important to note that Kodak is committed to U.S. manufacturing – in fact, we manufacture a wide range of products in the U.S., including lithographic printing plates, photographic and industrial films, inkjet presses and inks, and pharmaceutical key starting ingredients – and our expectation is that tariffs instituted by the U.S. government are designed to protect American businesses like ours. We continue to accelerate the growth of our Advanced Materials & Chemicals (“AM&C”) business. I’m pleased to report that our AM&C group’s cGMP pharmaceutical manufacturing facility is now registered with the FDA and certified to manufacture and sell regulated pharmaceutical products, expanding our current business in unregulated pharmaceutical products. The facility will begin operation manufacturing phosphate buffered saline (PBS) for laboratory use and create a bridge to manufacturing more sophisticated specialty products, such as injectable IV saline, in the future. For the balance of the year, we plan to focus on serving our customers, strengthening our balance sheet and developing growth businesses for our future.”