secwatch.observer — SEC 8-K summary
======================================

Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0001654954-24-013766
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495424013766/0001654954-24-013766-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495424013766/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-013766

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