---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-24-003007"
form_type: "8-K"
ticker: "EML"
cik: "0000031107"
company_name: "EASTERN CO"
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T23:30:51.877879+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001654954-24-003007
- form_type: 8-K
- ticker: EML
- cik: 0000031107
- company_name: EASTERN CO
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31107/000165495424003007/0001654954-24-003007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31107/000165495424003007/eml_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-24-003007
- JSON: https://secwatch.observer/filing/0001654954-24-003007.json
- Plain text: https://secwatch.observer/filing/0001654954-24-003007.txt

## Key facts
- Earnings Releases
  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
  source text: Press Release dated March 12, 2024, announcing the fourth quarter and full year earnings for 2023 is attached hereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/31107/000165495424003007/0001654954-24-003007-index.htm

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