Eastman Kodak Posts 9% Revenue Rise and $1.023B Pension Reversion
Eastman Kodak finished Q4 2025 with 9% revenue growth to $290M and operational EBITDA up 144% year-over-year. The company generated $1.023B from pension reversion, boosting cash to $337M, but reported a GAAP net loss of $108M due to a $153M excise tax expense.
1. Q4 2025 Financial Performance
Eastman Kodak recorded $290M in Q4 revenue, up 9% year-over-year, with gross profit margin rising to 23% and operational EBITDA surging 144% due to pricing and efficiency improvements. However, a $153M excise tax from a pension reversion led to a $108M GAAP net loss for the quarter.
2. Pension Reversion Strengthens Balance Sheet
Completion of the pension reversion generated $1.023B in proceeds, boosting cash on hand to $337M and reducing debt and ongoing interest expenses. This enhanced liquidity positions the company for strategic investments and growth initiatives.
3. Full-Year Results and Challenges
Full-year 2025 revenues reached $1.069B, up 2%, with operational EBITDA up 138% to $62M despite a $128M annual GAAP net loss. Elevated restructuring costs and higher manufacturing expenses, coupled with global economic uncertainties, present ongoing operational challenges.