Kodak posts stronger second quarter as print, advanced materials drive growth
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Eastman Kodak Co. reported improved second-quarter 2026 financial results, marking its fourth consecutive quarter of year-over-year growth in revenue, gross profit and operational EBITDA as gains in its Print and Advanced Materials & Chemicals (AM&C) businesses offset higher raw material costs. Photographic film is part of the company’s AM&C segment, which includes the manufacturing capabilities and coating technologies used for Kodak’s still and motion picture films. Film is not broken out as a separate results.
Revenue increased 18% to $311 million from $263 million in the second quarter of 2025. Gross profit rose 61% to $82 million, while the gross margin improved to 26% from 19%. Kodak reported GAAP net income of $17 million, compared with a net loss of $26 million a year earlier. Operational EBITDA climbed to $36 million from $9 million.
The Print segment generated revenue of $195 million, up 10% year over year, while operational EBITDA improved to $8 million from a $4 million loss in the prior-year period. The AM&C segment posted the strongest growth, with revenue rising 40% to $105 million and operational EBITDA nearly tripling to $22 million.
CEO Jim Continenza said Kodak’s results reflect consistent execution of the company’s long-term strategy, including investments in manufacturing infrastructure, product development and operational efficiency. He said the company is entering “a new phase” focused on growth through expansion of its core businesses, increased efficiency and higher investment in research and development.
Kodak ended the quarter with $290 million in cash, down from $337 million at the end of 2025, primarily due to debt repayments and increased inventory tied to higher silver and aluminum prices. Those commodity costs also weighed on profitability during the quarter, partially offsetting gains from improved pricing and higher sales volumes.
|
(in millions) |
Q2 2026 |
|
|
Q2 2025 |
|
|
$Change |
|
|
% Change |
|
||||
|
Net Earnings (Loss) |
$ |
17 |
|
|
$ |
(26 |
) |
|
$ |
43 |
|
|
|
(165 |
)% |
|
All other |
|
(1 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
|
|
|
Depreciation and amortization |
|
6 |
|
|
|
7 |
|
|
|
(1 |
) |
|
|
|
|
|
Restructuring costs and other |
|
1 |
|
|
|
6 |
|
|
|
(5 |
) |
|
|
|
|
|
Stock based compensation |
|
9 |
|
|
|
1 |
|
|
|
8 |
|
|
|
|
|
|
Consulting and other costs (1) |
|
— |
|
|
|
(1 |
) |
|
|
1 |
|
|
|
|
|
|
Idle costs (2) |
|
2 |
|
|
|
1 |
|
|
|
1 |
|
|
|
|
|
|
Other operating expense, net (3) |
|
4 |
|
|
|
— |
|
|
|
4 |
|
|
|
|
|
|
Interest expense (3) |
|
6 |
|
|
|
15 |
|
|
|
(9 |
) |
|
|
|
|
|
Pension income excluding service cost |
|
(5 |
) |
|
|
(16 |
) |
|
|
11 |
|
|
|
|
|
|
Loss on early extinguishment of debt (3) |
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
|
|
|
|
Other (income) charges, net (3) |
|
(8 |
) |
|
|
20 |
|
|
|
(28 |
) |
|
|
|
|
|
Provision for income taxes (3) |
|
4 |
|
|
|
2 |
|
|
|
2 |
|
|
|
|
|
|
Operational EBITDA |
$ |
36 |
|
|
$ |
9 |
|
|
$ |
27 |
|
|
|
300 |
% |
