KODK - Eastman Kodak falls to near 2-month low as supply chain woes hit results

Eastman Kodak (NYSE:KODK) stock fell to a near 2-month low on Wednesday as the firm's Q1 earnings report failed to impress amid ongoing supply chain issues and growing costs.  KODK reported Q1 operational EBITDA of -$7M vs. $3M for Q1 2021, hurt by ongoing global cost increases.  But revenue grew 9.4% to $290M, helped by improved pricing and volume, and continued growth in products such as Kodak Sonora Process Free Plates and Kodak Prosper System annuities. Traditional printing revenue rose 16.2% to $172M, while advanced materials & chemicals revenue grew 17.4% to $54M. But digital printing revenue fell ~13% to $56M.  KODK CEO Jim Continenza in a post-earnings call highlighted continued supply chain disruptions, shortages in materials and labor, as well as higher labor, material and distribution costs. The firm implemented steps to offset these challenges including increasing safety stock materials, increasing lead times and implementing pricing actions.  "We navigated supply chain issues by carrying higher-than-historical levels of inventory

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Eastman Kodak falls to near 2-month low as supply chain woes hit results