KODK - Eastman Kodak stock gains after Q2 results

• Eastman Kodak ( NYSE: KODK ) stock higher after Q2 revenue rose 17%, excluding currency impact .
• Despite the current economic challenges, gross profit percentage increased from 11% in Q1 to 16% in Q2, which reflects the execution of our strategy and the controls we initiated to mitigate the challenging economic environment.
• Adjusted operational EBITDA was $10M in the quarter vs. $7M year ago.
• In July, the company announced that it has taken a minority stake in Wildcat Discovery Technologies.
• The company will provide coating and engineering services in collaboration with Wildcat to develop and scale build coating technologies which are critical for the safety and reliability of the next generation of EV and energy storage battery technology.
• “The use of cash in the second quarter primarily reflects higher inventory levels which strengthen our ability to serve our customers and support increased revenues. As planned, the Company also continues to invest in new product innovations and growth areas,” said David Bullwinkle, Kodak’s CFO. “Key metrics from the second quarter, such as increasing revenues and gross profit on both a year-over-year and quarter-sequential basis, reflect the successful ongoing execution of our long-term strategy.”
• Stock up ~33% on YTD basis.

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