Eastman Kodak Co Q4 2022 Earnings Call
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Executive Chairman & Chief Executive Officer, Eastman Kodak
Search every verified James Continenza interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. James Continenza, Executive Chairman and CEO of Eastman Kodak, has emphasized the company’s focus on its core businesses of print, film, and chemicals, describing the company as “a chemical company first” and stating that it had “lost its way” before his leadership. He has highlighted efforts to stabilize Kodak’s balance sheet, reduce debt, and improve operational efficiencies, noting that the company reduced net debt by $294 million compared to March 2019. Continenza has also pointed to revenue growth in all segments in 2021 and improvements in gross profit in 2022, attributing these results to cost-cutting, pricing actions, and a strategic plan implemented over the prior four years. In 2020, Continenza announced Kodak’s intention to produce pharmaceutical ingredients, with the U.S. International Development Finance Corporation signing a letter of interest for a potential $765 million loan. He described the loan as repayable over 25 years and said Kodak would repurpose existing buildings at Eastman Business Park to reduce costs. Continenza later stated that the application process had been placed on hold but that Kodak would continue expanding its pharmaceutical business regardless, though the scale and speed would depend on capital availability. He has also discussed investments in digital printing technology, including the release of the Prosper Ultra 520 press, and the construction of a facility to manufacture reagents for health care applications. Continenza has said he is “out” on Kodak’s prior venture into cryptocurrency, stating it is “not what we do.”
“I'm excited to talk to the transformation we've made over the last four years and the journey and the results are starting to follow the efforts that we've taken as a team.”
“These actions have repositioned the company enabling us to focus on initiatives that drive positive results and which continue to drive smart revenue and support our plan to return Kodak to sustainable profitable growth.”
“Our past actions include stabilizing our balance sheet allowing us to focus on overall business model, customers and growth initiatives.”
“We only win when our customers win.”
“I am pleased to let you know that we are now releasing the Prosper Ultra 520 Digital Press which delivers offset-like print quality at production speed and the Prosper 7000 Turbo digital press, the world's fastest ink press.”
“These groundbreaking products have helped bring digital print to the tipping point where it should be considered as a complement to traditional print and virtually every print shop.”
“Just to be clear what I stated earlier: the digital print is not a total replacement for offset — it will continue to manufacture plates and CTPs and supplying our customers; it is a mitigation of risk and a new technology to help drive new business at lower cost.”
“In January 2023 we finalized the upgrade of SAP P20, our ERP system; the upgrade is a huge step forward in modernizing our infrastructure reflecting our commitment to long-term investment in Kodak and serving our customers' needs.”
“We reduced our net debt by 294 million dollars compared with March of 2019. We remain committed to our continued innovation in digital print. In October Kodak announced another revolutionary new digital press, the Kodak Ascend digital press, which earned the prestigious European Digital Press Association 2021 EDP award...”
“These new initiatives are in various stages of commercialization and include EV energy storage battery material manufacturing. We have started coding substrates for EV and energy storage materials. We've started limited production of approximately 3 million square meters with a maximum capacity of 80 million square met...”
“We have started the construction of an approximately 20 million dollar facility to manufacture reagents for health care applications. As part of the investment we are currently in the process of building out a clean room manufacturing facility and plan to pursue FDA certification as a CGMP facility.”
“The announcement on July 28th was about the U.S. International Development Finance Corp signing a letter of interest for an application for a potential loan — not a subsidy or a grant. This is an opportunity for the company to apply for a loan only; the application process has been placed on hold by the DFC.”
“As part of our long-term strategy we will continue to move forward with expanding the existing pharmaceutical business regardless of whether we received the potential DFC loan; the scale and speed of the expansion will depend on the availability of capital and our assessment of the business opportunity at various produ...”
“We remain 100% committed to our core business of print, advanced materials and chemicals including unregulated key starting materials — this combined with the continued dedication of our employees in the United States and globally gives us tremendous confidence that we are on the right track to restoring Kodak to its r...”
“The industry is starting to recognize the company's achievements as a technology leader in print — Kodak recently won a total of eight awards in three prestigious competitions for products like the Prosper QD packaging inks and the stream inkjet-powered presses.”
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Eastman Kodak made waves on Tuesday with news it is shifting into production of pharmaceutical ingredients with a $765 million ...
Kodak CEO Jim Continenza talks about federal loan to produce key starting materials for drugs.
Eastman Kodak Q4 results fail to impress the street April 1, 2019 Shares of the imaging firm Eastman Kodak (KODK) dropped ...
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