secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2023-11-16T23:59:59+00:00
Accession:  0001654954-23-014491
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495423014491/0001654954-23-014491-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495423014491/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-014491

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