GET DAILY SIGNALSEastman Kodak (KODK) Delivers +3% Revenue Growth in Q3 With AM&C Strength
Key Takeaways
- Eastman Kodak reported third-quarter 2026 revenue of $276 million, up 3% from $269 million a year earlier.
- Diluted earnings per share (EPS) came in at $0.18, swinging from a loss of $0.08 in the prior-year quarter and topping the consensus estimate of $0.16.
- Revenue fell modestly short of analyst expectations near $284 million, while the bottom line benefited from sharply lower interest expense.
- The Advanced Materials and Chemicals (AM&C) segment grew revenue 21% to $99 million, while the Print segment declined 7% to $165 million.
- GAAP net income rose 62% to $21 million, and the company generated $27 million in cash during the quarter.
Earnings Context and Why It Matters
Eastman Kodak's third-quarter report offers a clear look at how the company's multi-year pivot is progressing. Once defined by its legacy film and print franchise, KODK has repositioned around its Advanced Materials and Chemicals business, which is now its primary growth engine and profitability driver. The latest quarterly earnings show that momentum, with AM&C expanding rapidly even as the larger Print segment contends with raw-material costs and digital substitution. For investors, the results matter because they reveal whether Kodak's higher-value business lines can offset secular pressure in traditional printing while the company continues to strengthen its balance sheet through debt reduction and cash generation. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Reported Results
For the third quarter ended September 30, 2026, Kodak reported consolidated revenue of $276 million, an increase of $7 million, or 3%, from $269 million in the prior-year period. Gross profit rose 7% to $73 million, with gross margin improving to 26% from 25%, driven by better pricing, product mix, and higher volumes in AM&C and Brand, partially offset by lower Print volumes.
GAAP net income increased 62% to $21 million, while diluted EPS reached $0.18, up from a loss of $0.08 per share a year ago. The earnings improvement was aided by a sharp drop in interest expense, which fell to $3 million from $18 million following the repayment of term-loan debt. Operational EBITDA rose to $31 million from $29 million.
By segment, AM&C revenue climbed 21% to $99 million, while Print revenue declined 7% to $165 million. Management noted that AM&C now accounts for roughly one-third of revenue and more than half of Operational EBITDA. The company ended the quarter with $317 million in cash, up from $290 million on June 30, 2026, and reduced long-term debt to $108 million from $208 million at the end of 2025.
Market Reaction and Investor Sentiment
Heading into the report, consensus expectations called for EPS of roughly $0.16 and revenue near $284 million. Kodak's EPS beat was driven largely by lower interest expense and operational gains, while the top-line result came in slightly below the revenue estimate. The mixed nature of the quarter, with strong AM&C growth offset by Print softness, framed a cautious near-term interpretation. Shares traded lower in after-hours activity following the announcement, reflecting investor focus on the revenue shortfall and the continued pressure on the Print segment, even as profitability and cash generation improved on a year-over-year basis.
Forward Outlook and Key Factors to Monitor
Looking ahead, investors will want to watch whether the Advanced Materials and Chemicals segment can sustain its double-digit growth and carry more of the company's profitability. Management has pointed to continued investments in AM&C, including pharmaceutical manufacturing initiatives and battery-coating capacity, as longer-term growth opportunities. The pace at which these initiatives translate into revenue and margin will be a key signal for the stock.
At the same time, the Print business remains the larger revenue base, so its trajectory still matters. Higher raw-material prices, digital substitution, and competitive pricing in Europe are ongoing headwinds that could weigh on results even as management works to preserve profitability.
On the financial side, the sharp reduction in long-term debt and rising cash balance give Kodak more flexibility, and further progress on interest expense and cash generation could support future earnings. Investors should also monitor gross margin trends, segment-level Operational EBITDA, and any updates to full-year guidance as the company aims to finish the year with profitable growth. From what I see, tracking these metrics closely will help clarify the sustainability of the turnaround.
AI Tools in Portfolio Monitoring
When reviewing earnings like these, I find it helpful to cross-check segment trends and peer performance with specialized platforms. One resource I turn to regularly is Tickeron’s AI Screener, which allows filtering by industry, technical patterns, fundamentals, and AI-driven signals to surface relevant comparisons quickly. It supports scanning thousands of stocks and ETFs with customizable criteria, helping identify setups or monitor shifts without manual effort. This approach keeps the analysis efficient while focusing on names such as KODK and its sector peers.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
KODK sees MACD Histogram just turned negative
KODK saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on October 30, 2026. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 46 instances where the indicator turned negative. In 40 of the 46 cases the stock moved lower in the days that followed. This puts the odds of a downward move at 87%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 30, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on KODK as a result. In 73 of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 81%.
KODK moved below its 50-day moving average on October 29, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for KODK crossed bearishly below the 50-day moving average on October 14, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 12 of 17 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 71%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where KODK declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 84%.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where KODK's RSI Oscillator exited the oversold zone, 21 of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 68%.
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
Following a +4.48% 3-day Advance, the price is estimated to grow further. Considering data from situations where KODK advanced for three days, in 214 of 270 cases, the price rose further within the following month. The odds of a continued upward trend are 79%.
KODK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 129 of 160 cases where KODK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 81%.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 28 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.381) is normal, around the industry mean (6.110). P/E Ratio (-6.416) is within average values for comparable stocks, (32.833). Projected Growth (PEG Ratio) (0.332) is also within normal values, averaging (1.946). Dividend Yield (0.000) settles around the average of (0.025) among similar stocks. P/S Ratio (0.792) is also within normal values, averaging (9.907).
The Tickeron Price Growth Rating for this company is 59 (best 1 - 100 worst), indicating fairly steady price growth. KODK’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 64 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 79 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. KODK’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock better than average.
The Tickeron SMR rating for this company is 96 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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General Information
a manufacturer of imaging products, including photographic film and digital cameras
Industry OfficeEquipmentSupplies
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