Eastern Co Q2 sales -12% to $61.8M; adjusted EPS $0.15; backlog +45% on aerospace buys

EASTERN CO

Net sales $61.8M, down 12% YoY; gross margin 20.6% vs 23.3% prior year.
Net income from continuing ops $5.6M ($0.94 diluted) includes $6.5M non-cash bargain purchase gain; adjusted net income $0.9M ($0.15).
Adjusted EBITDA $3.4M vs $6.7M YoY, down ~49%.
Acquired Sungear LLC and Crown Precision on June 1, 2026, adding $1.7M aerospace sales; backlog up 45% to $126.2M.
Repurchased 19,529 shares in Q2; 256,275 shares remain under repurchase program.

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