Eastern Q3 sales $65.6M (-8% YoY); EPS $0.49, gross margin 24.9% (seq +270bp)

EASTERN CO

2023-Q3 EPS reported $0.81 revenue$206,468,838

Net sales $65.6M, down 8% from $71.6M in Q3 2022; backlog up 4% YoY to $89.4M.
GAAP diluted EPS from continuing ops $0.49 (sequential +123%); adjusted EPS $0.49 (sequential +23%).
Gross margin improved 270 bps sequentially to 24.9% due to repricing; YoY 25% vs 23%.
Cash from ops nine months up $19.6M; record debt paydown $15.2M YTD.
Senior net leverage 1.85x; management highlights operational transformation progress.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EASTERN CO reported third fiscal quarter ended September 30, 2023 results: revenue $65.6 million, EPS $0.49 per share.

Period: third fiscal quarter ended September 30, 2023
Revenue: $65.6 million
EPS: $0.49 per share
Result: reported results

Exact text from the filing

Net sales in the third quarter of 2023 decreased 8% to $65.6 million from $71.6 million in the corresponding period in 2022.

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39 earnings releases filed in the last 30 days. Browse all earnings releases →

EASTERN CO filing history →

Source: SEC EDGAR

accession 0001654954-23-014491

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