secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2025-03-11T23:59:59+00:00
Accession:  0001654954-25-002609
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Company Q4 net income $1.6M vs $3.9M; FY2024 net income up 12% to $13.2M
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- Q4 net sales +4.5% to $66.7M; net income $1.6M ($0.26/diluted) vs $3.9M ($0.63) in Q4 2023.
- FY2024 net sales $272.8M (+5% YoY); net income $13.2M ($2.13/diluted) vs $11.8M ($1.88) in 2023.
- Adjusted EBITDA from cont. ops FY2024 $27.1M vs $25.4M; backlog $89.2M vs $77.1M.
- Gross margin in Q4 fell to 23.0% from 26.8% due to higher material costs and non-recurring LIFO adjustment.
- CEO Schroeder (joined Nov 2024) appointed new presidents at two of three businesses; focus on faster execution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495425002609/0001654954-25-002609-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495425002609/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-002609

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