Eastern Company Q3 net sales up 15% to $71.3M, EPS $0.75 (+36%); names new CEO

EASTERN CO

2024-Q3 EPS reported -$1.58 revenue$206,068,490

Net sales from continuing ops $71.3M, up 15% YoY; gross margin 25.5% vs 24.9%.
EPS from continuing ops $0.75 diluted, up 36% YoY from $0.55; adjusted EBITDA $8.7M vs $6.7M.
Big 3 Mold business classified as discontinued ops with $23.1M write-down and $0.8M operating loss.
Ryan Schroeder named CEO effective Nov 6, replacing Mark Hernandez; previously CEO at Plaskolite LLC.
Backlog increased 13% to $97.2M from $86.2M; demand up for truck mirror assemblies and packaging.

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