Eastern Co. Q1 net sales $59.7M, net income $0.6M; racks business drag contained to H1 2026

EASTERN CO

2027-Q1 EPS reported $0.11 revenue$59,676,538

Net sales $59.7M (-5.7% YoY); net income $0.6M ($0.11 diluted EPS) vs $1.9M ($0.31) YoY.
Adjusted EBITDA $3.0M, down ~35% YoY on lower volume, pricing pressures, and labor inefficiencies.
Gross margin 20.0% vs 22.4% YoY; unfavorable rack contracts impacted results, expected to resolve by Q2 2026.
Backlog $82.2M; sequential revenue growth from Q4 2025; demand recovery intact per CEO.
Balance sheet: $1.0M debt reduction, $422K share repurchases, ~$67M revolver available.

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