Kodak Q3 profit up; readies to open Rochester facility

Andrea Deckert//November 13, 2024//

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Eastman Kodak Co. reported mixed third quarter results this week as the Rochester-based company readies to open a new manufacturing facility at the Eastman Business Park in 2025.

The company reported after markets closed Tuesday that consolidated revenues for the quarter were $261 million, down $8 million, or 3 percent from consolidated revenues of $269 million a year ago.

Kodak said GAAP net income was $18 million, compared with net income of $2 million for the same period last year, an increase of $16 million or 800 percent.

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“In the third quarter, Kodak continued to focus on the fundamentals of our long-term strategic plan: increasing operating efficiency, investing in innovation and driving smart revenue,” said Jim Continenza, Kodak’s executive chairman and CEO. “Looking forward, we will continue to invest in streamlining our operations and developing the leading-edge products our customers expect from Kodak.”

Continenza highlighted the company’s Advanced Materials & Chemicals group, which he said continues to emerge as a key part of the company’s future.

Because of that, Kodak continues to invest in AM&C growth initiatives, including the $20 million facility for manufacturing pharmaceutical ingredients currently nearing completion at Eastman Business Park.

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