---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-014491"
form_type: "8-K"
ticker: "EML"
cik: "0000031107"
company_name: "EASTERN CO"
filed_at: "2023-11-16T23:59:59+00:00"
generated_at: "2026-06-08T01:36:06.532703+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-23-014491
- form_type: 8-K
- ticker: EML
- cik: 0000031107
- company_name: EASTERN CO
- filed_at: 2023-11-16T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/31107/000165495423014491/0001654954-23-014491-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31107/000165495423014491/eml_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-014491
- JSON: https://secwatch.observer/filing/0001654954-23-014491.json
- Plain text: https://secwatch.observer/filing/0001654954-23-014491.txt

## Key facts
- Earnings Releases
  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
  source text: Net sales in the third quarter of 2023 decreased 8% to $65.6 million from $71.6 million in the corresponding period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31107/000165495423014491/0001654954-23-014491-index.htm

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