Kodak released its second-quarter 2025 financials with lackluster revenue and profit, and a cautionary comment in its "Going Concern Assessment" raises "substantial doubt" about its future.
Kodak reported that "conditions raise substantial doubt about the Company's ability to continue as a going concern."
It sounds bad. Especially considering Kodak's January 2011 Chapter 11 bankruptcy filing, which it emerged from after 19 months and selling substantial portions of its business holdings.
Second-quarter 2025 revenue was reported at $263 million, off about 1% from 2024. Kodak also reported "Gross profit of $51 million, compared with $58 million for Q2 2024, a decrease of $7 million or 12 percent."
Kodak Executive Chairman and CEO Jim Continenza, said, "In the second quarter, Kodak continued to make progress against our long-term plan despite the challenges of an uncertain business environment."
He pointed to a combination of direct business concerns and the global business outlook, including tariffs imposed by President Donald Trump. But Kodak is somewhat supportive of Trump's tariffs and said, "tariffs instituted by the U.S. government are designed to protect American businesses like ours."
Kodak is headquartered in Rochester, New York. Local RochesterFirst reported that a Kodak spokesperson said the doubt about the company's stability had more to do with how terminating a pension plan would impact repayment of a loan coming due and predicted that the company would soon "be virtually net debt free and will have a stronger balance sheet than we have had in years."
The quarterly report references a new business direction for Kodak, with a new manufacturing facility "expanding our current business in unregulated pharmaceutical products."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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