secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001654954-24-003007
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495424003007/0001654954-24-003007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495424003007/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-003007

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