---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-010218"
form_type: "8-K"
ticker: "EML"
cik: "0000031107"
company_name: "EASTERN CO"
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T05:02:05.313717+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Eastern Company reports Q1 GAAP net income of $0.6M, down 78% YoY despite 5% sales growth

## Summary
- Net sales rose 5% to $72.5M; GAAP diluted EPS $0.10 vs $0.43; adjusted EPS $0.36 vs $0.46.
- Inventory down 11% vs Dec 2022; operating cash flow improved $10.4M to $6.9M source.
- Selling/admin expenses up 21% driven by $1.8M severance for CEO/COO departures.
- Backlog $72M vs $85.8M prior year; new product launches include electric vehicle components.

## SEC filing metadata
- accession: 0001654954-23-010218
- form_type: 8-K
- ticker: EML
- cik: 0000031107
- company_name: EASTERN CO
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31107/000165495423010218/0001654954-23-010218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31107/000165495423010218/eml_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-010218
- JSON: https://secwatch.observer/filing/0001654954-23-010218.json
- Plain text: https://secwatch.observer/filing/0001654954-23-010218.txt

## Key facts
- Earnings Releases
  EASTERN CO reported first fiscal quarter ended April 1, 2023 results: revenue $72.5 million, net income $0.6 million, EPS $0.10 per diluted share.
  - Period: first fiscal quarter ended April 1, 2023
  - Revenue: $72.5 million
  - Net income: $0.6 million
  - EPS: $0.10 per diluted share
  - Result: reported results
  source text: Net sales in the first quarter of 2023 increased 5% to $72.5 million from $69.0 million in the corresponding period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31107/000165495423010218/0001654954-23-010218-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.