secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001654954-23-010296
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495423010296/0001654954-23-010296-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495423010296/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-010296

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