secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001654954-24-010037
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 Q2 net income rises to $3.5M ($0.56/diluted) from $1.4M; backlog up 43% to $107.3M
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- Net income $3.5M ($0.56 diluted) vs $1.4M ($0.22) in Q2 2023; adjusted net income $3.5M ($0.56) vs $2.5M ($0.40).
- Revenue $73.2M (+7% YoY); gross margin improved to 25% from 22%.
- Backlog increased 43% to $107.3M from $75.3M, driven by truck mirror assemblies and returnable packaging.
- Adjusted EBITDA $7.2M vs $5.9M in prior year quarter; six-month adj EBITDA $12.4M.
- Company notes softening in commercial vehicle and EV programs affecting custom packaging demand, but highlights operational improvements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495424010037/0001654954-24-010037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495424010037/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-010037

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