EASTMAN KODAK CO Q2 FY2024 earnings call

• Gross profit percentage continued to increase, reaching 22% in Q2 2024, the seventh consecutive year-over-year increase. - Revenue decrease was intentional as the company continued to invest in long-term strategy. - AMC is a key future area, with growth in key products and an expected cGMP facility for manufacturing diagnostic test reagents to begin production in 2025. - Continued investment in the Print portfolio, including showcasing the PROSPER ULTRA 520 at drupa 2024, launching enhanced PRINERGY software, SONORA XTRA next-generation plates, and new CTPs. - Films business saw demand with movies like Twisters and The Bikeriders shot on Kodak film.

In the second quarter of 2024, Kodak's revenues were $267 million compared to $295 million in the prior year quarter, a decrease of $28 million or 9%. Excluding foreign exchange, revenue decreased by $24 million. Gross profit was $5 million less than the prior year quarter, a decrease of 8%. The gross profit percentage was 22% in Q2 2024, up from 21% in the prior year quarter. The Advanced Materials & Chemicals (AMC) segment is seeing growth in key products. AMC leverages Kodak's strength in chemicals, layering, and coating, and is a key part of the company's future growth plans. Revenue contribution details weren't explicitly broken down by segment in terms of percentage, but AMC is noted as an important growth area.

Important factors that could cause actual events or results to differ materially from forward-looking statements include risks, uncertainties, and other factors described in more detail in Kodak's filings with the U.S. Securities and Exchange Commission from time to time. There may be other factors that may cause Kodak's actual results to differ materially from the forward-looking statements. All forward-looking statements are expressly qualified by cautionary statements included or referenced in the presentation.

Q: Is there a formal Q&A during today's call?

A: We will not be holding a formal Q&A during today's call. As always, the Investor Relations team is available for follow-up.