---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-010296"
form_type: "8-K"
ticker: "EML"
cik: "0000031107"
company_name: "EASTERN CO"
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T03:06:07.829039+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Eastern Company Q2 net income falls to $1.4M from $3.7M; cash flow improves $16M in H1

## Summary
- GAAP diluted EPS $0.22 vs $0.59 YoY; adjusted diluted EPS $0.40 vs $0.59.
- Net sales $68.3M, down 2% from $69.5M; gross margin 22% (up 1% sequentially).
- Closed Associated Toolmakers (cost $1.4M); acquired Sureflex assets for Velvac.
- Cash from ops +$16M YTD; paid $5M debt in Q2; net leverage 1.95x.
- Declared $0.11/share regular dividend; 332nd consecutive quarterly dividend.

## SEC filing metadata
- accession: 0001654954-23-010296
- form_type: 8-K
- ticker: EML
- cik: 0000031107
- company_name: EASTERN CO
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31107/000165495423010296/0001654954-23-010296-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31107/000165495423010296/eml_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-010296
- JSON: https://secwatch.observer/filing/0001654954-23-010296.json
- Plain text: https://secwatch.observer/filing/0001654954-23-010296.txt

## Key facts
- Earnings Releases
  EASTERN CO reported the second fiscal quarter ended July 1, 2023 results: revenue $68.3 million, net income $1.4 million, EPS $0.22 per diluted share.
  - Period: the second fiscal quarter ended July 1, 2023
  - Revenue: $68.3 million
  - Net income: $1.4 million
  - EPS: $0.22 per diluted share
  - Result: reported results
  source text: Net sales in the second quarter of 2023 decreased 2% to $68.3 million from $69.5 million in the corresponding period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31107/000165495423010296/0001654954-23-010296-index.htm

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