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Kodak grows revenue, sharpens profitability in Q1
Kodak grows revenue, sharpens profitability in Q1
Listen to this articleEastman Kodak Co. reported higher revenue and significantly improved operating performance in the first quarter of 2026, marking the company’s third consecutive quarter of year-over-year improvement despite ongoing economic volatility and rising commodity costs.
For the quarter ended March 31, Kodak posted consolidated revenue of $265 million, up 7 percent from $247 million in the first quarter of 2025. Excluding the favorable impact of foreign exchange, revenue increased 4 percent year over year.
“We have delivered three consecutive quarters of strong performance, despite a highly volatile and challenging business environment,” said Jim Continenza, Kodak’s executive chairman and CEO. “Our success is no accident. It reflects several years of investing in innovation and infrastructure and focusing on operational excellence.”
Kodak’s Print segment remained the company’s largest revenue driver, generating $180 million in first-quarter revenue, an increase of 9 percent from the same period last year. Revenue in the Advanced Materials & Chemicals segment rose 3 percent to $76 million.
Gross profit rose 24 percent to $57 million, compared with $46 million a year earlier, while gross profit margin improved to 22 percent from 19 percent in the prior-year period. Operational EBITDA increased sharply to $15 million, up from $2 million in the first quarter of 2025.
The company attributed the operational improvement primarily to stronger pricing, partially offset by higher manufacturing expenses and increased silver and aluminum costs.
Despite stronger operational results, Kodak reported a GAAP net loss of $16 million for the quarter, compared with a net loss of $7 million in the first quarter of 2025.
The company ended the quarter with a cash balance of $299 million, down $38 million from Dec. 31, 2025. Kodak said the decline was primarily driven by increased inventory tied to higher silver and aluminum commodity prices, as well as a $50 million principal repayment on term loans completed in March. The decrease was partially offset by $46 million in proceeds from redemption of Kodak Retirement Income Plan reversion investments.
Looking ahead, Continenza said Kodak plans to continue investing in businesses positioned for future growth while maintaining a focus on customers and strengthening the company’s balance sheet.
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