Eastman Kodak Company Reports Q2 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
Eastman Kodak Company Reports Q2 2024 Financial Results
Overview
Eastman Kodak Company reported its financial results for the second quarter of 2024, ending on June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | Year-over-Year Change | Quarter-over-Quarter Change |
|---|---|---|---|---|---|
| Total Revenue (million $) | $267 | $249 | $295 | -9% | 7% |
| Earnings Per Share (EPS) | $0.01 | $0.00 | $0.01 | 0% | N/A |
Interpretation
Kodak's revenues for Q2 2024 were $267 million, representing a 9% decline year-over-year compared to $295 million in Q2 2023. The earnings per share (EPS) remained steady at $0.01 compared to the same quarter last year. Quarter-over-quarter, the revenues showed a 7% improvement from Q1 2024 with $249 million. Overall, the company has managed to stabilize its EPS despite challenging market conditions.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue (million $) | Q1 2024 Revenue (million $) | Q2 2023 Revenue (million $) | Year-over-Year Change | Quarter-over-Quarter Change |
|---|---|---|---|---|---|
| $186 | $182 | $215 | -13% | 2% | |
| Advanced Materials and Chemicals | $73 | $59 | $72 | 1% | 24% |
Interpretation
The Print segment, which constitutes about 70% of total revenue, saw a 13% year-over-year decline and a slight 2% increase quarter-over-quarter. The Advanced Materials and Chemicals segment showed a modest year-over-year growth of 1% and an impressive 24% growth compared to Q1 2024. Detailed revenue from the Brand Licensing and All Other segments was not provided.
Stock Price Movement
Following the earnings announcement, Kodak's stock price saw an increase of approximately 2.92%.
This concise summary provides a clear snapshot of Eastman Kodak Company's financial performance for Q2 2024. The data indicates mixed performance across segments with stabilizing earnings per share amidst declining revenues. The strong quarter-over-quarter growth in the Advanced Materials and Chemicals segment deserves special mention.
