Eastman Kodak Company · NYSE:KODK
Eastman Kodak — Q3 2019 Earnings Presentation
17 slides from Eastman Kodak's earnings presentation, Nov 7, 2019
Slide 1: Third Quarter 2019 Earnings Call
Third Quarter 2019 Earnings Call November 7, 2019
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-looking Statements Pursuant to Safe Harbor Provisions of The Private Securities Litigation Reform Act of 1995 Cautionary Statement Regarding Forward-Looking Statements This presentation includes “forward-looking statements” as that term is defined under the Pri
Slide 3: Agenda
Agenda Introduction Bill Love, Treasurer and Investor - Relations First line bullet point First line bullet point - Second line bullet point First line bullet point - CEO Third Perspective line Jim Continenza, Executive Chairman bullet point First line bullet point - Fourth line bullet point Fir
Slide 4: CEO Perspective
CEO Perspective • On September 1, 2019, established a strategic relationship with Lucky HuaGuang Graphics Co. Ltd: • Sale of offset printing plates facility in Xiamen, China • Supply agreement • Intellectual property license agreement related to plates technology • The focus in 2020 will be on gener
Slide 5: 2019 Third Quarter and Year-To-Date Results
2019 Third Quarter and Year-To-Date Results ($ millions) Three Months Ended September 30, 2019 2018 Net (Loss) Income $ (5) $ 19 Net gain on sale of Flexographic Packaging Business (5) - Workers Compensation and Legal Reserve Adjustments 2 (10) Changes in Fair Value of Embedded Derivative Liability
Slide 6: 2019 Third Quarter and Year-to-Date Results
2019 Third Quarter and Year-to-Date Results (Decline) / Improvement - ($ millions) Q3 2019 Q3 2018 $ Revenue $315 $329 ($14) Add Back: Unfavorable Impact of Foreign Exchange 2 $5 Less: License Revenue Received from HuaGuang Graphics Co. Ltd Transaction ($13) Adjusted Revenue $307 $329 ($22) Operatio
Slide 7: 2019 Year-To-Date Cash Flow
2019 Year-To-Date Cash Flow Nine Months Ended September 30, ($ Millions) 2019 2018 Change Primary Drivers of Cash: Cash from Operations: Net earnings (loss) $ 178 $ (2) $ 180 Depreciation and amortization 43 58 (15) Pension income (72) (81) 9 Change in fair value of embedded derivatives in Series A
Slide 8: Questions and Answers
Questions and Answers 8
Slide 9: Non-GAAP Measures
Non-GAAP Measures In this third quarter earnings presentation, reference is made to the following non-GAAP financial measures: • Operational EBITDA; • Revenues and Operational EBITDA on a constant currency basis; • Revenues on a constant currency basis excluding license revenue received from HuaGuan
Slide 10: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Total Revenues to Total Revenues on a constant currency basis excluding license revenue received from HuaGuang Graphics Co. Ltd transaction for the three and nine months ended September 30, 2019 and 2018, r
Slide 11: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Operational EBITDA, Operational EBITDA on a constant currency basis and Operational EBITDA on a constant currency basis excluding the impact of aluminum costs, license revenue received
Slide 12: Non-GAAP Measures
Non-GAAP Measures The following table reconciles the most directly comparable GAAP measure of Net (Loss) Income to Operational EBITDA, Operational EBITDA on a constant currency basis and Operational EBITDA on a constant currency basis excluding the impact of aluminum costs, license revenue received
Slide 13: Non-GAAP Measures
Non-GAAP Measures Footnote Explanations: (1) As reported in the Consolidated Statement of Operations. (2) Consulting and other costs are primarily professional services and internal costs associated with certain corporate strategic initiatives. (3) Consists of costs such as security, maintenance and
Slide 14: Appendix
APPENDIX 14
Slide 15: 2019 Third Quarter Financial Summary by Division
2019 Third Quarter Financial Summary by Division ($ millions) Q3 2019 Actuals PSD EISD KSD BFID AM3D EBPD Total EK Revenue $ 213 $ 29 $ 14 $ 56 $ 1 $ 2 $ 315 Operational EBITDA (1) $ 20 $ (3) $ 2 $ (1) $ (4) $ - $ 14 Q3 2018 Actuals PSD EISD KSD BFID AM3D EBPD Total EK Revenue $ 217 $ 39 $ 15 $ 54 $
Slide 16: 2019 Year-to-Date Financial Summary by Division
2019 Year-to-Date Financial Summary by Division ($ millions) YTD 2019 Actuals PSD EISD KSD BFID AM3D EBPD Total EK Revenue $ 612 $ 90 $ 42 $ 159 $ 3 $ 7 $ 913 Operational EBITDA (1) $ 32 $ (6) $ 1 $ (10) $ (9) $ (1) $ 7 YTD 2018 Actuals PSD EISD KSD BFID AM3D EBPD Total EK Revenue $ 660 $ 103 $ 47 $
Slide 17: Thank You
i < Thank You
Eastman Kodak Company — Q3 2019 Earnings Presentation on 6ix