Eastern Company Q4 net income jumps to $0.56 EPS; full year net income down 22%

EASTERN CO

Q4 net sales $67.0M (-3% YoY); gross margin improved to 26.8% from 16.6%.
Q4 diluted EPS $0.56 vs $0.03; adjusted diluted EPS $0.56 vs $0.11.
Full year net income $8.6M ($1.37 EPS) vs $11.1M ($1.77 EPS); adjusted EPS $1.81 flat.
Operating cash flow $26.5M in 2023; debt reduced by $20.2M; net leverage down to 1.41x.
Backlog up 10.5% to $80.1M; management adds 'One Eastern' supply chain strategy.

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 0.7

EASTERN CO reported financial results for the fourth fiscal quarter and full year ended December 30, 2023.

Period: the fourth fiscal quarter and full year ended December 30, 2023
Result: reported results

Exact text from the filing

Press Release dated March 12, 2024, announcing the fourth quarter and full year earnings for 2023 is attached hereto.

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EASTERN CO filing history →

Source: SEC EDGAR

accession 0001654954-24-003007

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