secwatch.observer — SEC 8-K summary
======================================

Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001654954-22-014782
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Company Q3 net sales $71.6M (+12%), EPS $0.72 (+18%)
------------------------------------------------------------

- Net sales from continuing ops grew 12% to $71.6M; backlog rose to $85.7M.
- Diluted EPS from continuing ops $0.72 vs $0.61; adjusted EBITDA $7.7M vs $7.1M.
- Repaid nearly $3M of debt in Q3 and an additional $5M after quarter end.
- Divested non-core Argo EMS on Oct 18, completing divestiture of all non-core businesses.
- Current ratio improved to 2.9x; 55% of term debt fixed at 3.19% via swap.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495422014782/0001654954-22-014782-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495422014782/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-014782

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer