EML - Earnings announcements

Aims to Install an Independent Slate and Legendary CEO Committed to Abandoning the Blocked Nippon Deal, Collecting the $565 Million Breakup Fee and Making U.S. Steel Great Again in the Public Market Believes the Board's Decision to Pursue a Risky Sale to Nippon – an Overseas Bidder Paying Just $1 Per Share More Than the Top Domestic Bidder – Has Led to a Dead End Contends the Board and CEO David Burritt, Who Collectively Stood to Receive $100+ Million if the Sale Proceeded, Prioritized Deal Advocacy at the Expense of Financial Health and Operational Performance Expresses Concern About the Board and Mr. Burritt Continuing to Devote Immense Resources to Litigation Despite Legal Headwind

Net sales from continuing operations increase to $71.3 million in Q3 2024 compared to $62.0 million in Q3 2023Gross margin from continuing operations increases to 25.5% in Q3 2024 compared to 24.9% in Q3 2023Earnings per diluted share from continuing operations increase 36% to $0.75 in Q3 2024 compared to $0.55 in Q3 2023Eastern advances its business transformation by reporting Big 3 Mold business as discontinued operationsEastern announces transition to new CEO – Ryan Schroeder SHELTON, CT / ACCESSWIRE / November 5, 2024 / The Eastern Company ("Eastern" or the "Company") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistic

SHELTON, CT / ACCESSWIRE / October 21, 2024 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the third quarter fiscal year 2024 after the market close on Tuesday, November 5, 2024.Management will hold a conference call and webcast on Wednesday, November 6, 2024 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q3 Fiscal Year 2024 Financial Results Conference CallWhen: Wednesday, November 6, 2024Time: 11

Net income for Q2 2024 rises to $3.5 million, or $0.56 per diluted share, compared to net income of $1.4 million, or $0.22 per diluted share, for Q2 2023.Gross margin increases to 25% in Q2 2024 compared to 22% in Q1 2023.Backlog as of June 29, 2024 rises 43% to $107.3 million from $75.3 million as of July 1, 2023.SHELTON, CT / ACCESSWIRE / August 6, 2024 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, today announced the results of operations for the second fiscal quarter ended June 29, 2024.President and CEO Mark Hernandez stated, "Our second quarter results

SHELTON, CT / ACCESSWIRE / July 22, 2024 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the second quarter fiscal year 2024 after the market close on Tuesday, August 6, 2024.Management will hold a conference call and webcast on Wednesday, August 7, 2023 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q2 Fiscal Year 2024 Financial Results Conference CallWhen: Wednesday, August 7, 2024Time: 11:00 a.m.

Gross margin increases to 24% in Q1 2024 compared to 21% in Q1 2023.Net income for Q1 2024 rises to $1.9 million, or $0.31 per diluted share, compared to net income of $0.6 million, or $0.10 per diluted share, for Q1 2023.Backlog as of March 30, 2024 rises 22% to $97.4 million compared to $80.1 million as of December 30, 2023.Solid operational foundation established in 2023 positions Eastern to take steps to further reduce costs, improve product competitiveness, deliver increased earnings, and enhance shareholder value.SHELTON, CT / ACCESSWIRE / May 6, 2024 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportat

SHELTON, CT / ACCESSWIRE / April 22, 2024 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the first quarter fiscal year 2024 after the market close on Monday, May 6, 2024.Management will hold a conference call and webcast on Tuesday, May 7, 2023 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q1 Fiscal Year 2024 Financial Results Conference CallWhen: Tuesday, May 7, 2024Time: 11:00 a.m. ETDial-in Num

Gross Margin increased sequentially in each quarter of 2023, rising to 26.8% in Q4 2023 compared to 16.6% in Q4 2022.Cash flow from operations for the year ended December 30, 2023 increased $19.0 million compared to fiscal 2022, enabling debt paydown of $20.2 million.EPS increased sequentially in each quarter of 2023, rising to $0.56 per diluted share in Q4 2023 compared to $0.03 in Q4 2022.Strong fourth quarter caps a year of significant changes designed to optimize operations and restore consistent profitability as evidenced by improvements in earnings from operations.SHELTON, CT / ACCESSWIRE / March 12, 2024 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of uni

SHELTON, CT / ACCESSWIRE / February 20, 2024 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the fourth quarter and fiscal year 2023 after the market close on Tuesday, March 12, 2024.Management will hold a conference call and webcast on Wednesday, March 13, 2024, at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q4 and Fiscal Year 2023 Financial Results Conference CallWhen: Wednesday, March 13, 2024Tim

Impact of new operational transformation program evident in working capital improvement, margin improvement and an increase in EPS from continuing operations sequentially.Gross margin as a percentage of sales improved to 24.9% in the third quarter of 2023 from 22.2% in the second quarter of 2023.Cash flow from operations for the nine months ended September 30, 2023 increased $19.6 million compared to the same period in 2022, enabling record debt paydown of $15.2 million during the first nine months of 2023.EPS from continuing operations was $0.49 per share in the third quarter of 2023 compared to $0.22 in the second quarter of 2023, an increase of 123%. Adjusted EPS increased 23% to $0.49 pe

SHELTON, CT / ACCESSWIRE / October 20, 2023 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the third quarter fiscal year 2023 after the market close on Tuesday, November 7, 2023.Management will hold a conference call and webcast on Wednesday, November 8, 2023 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q3 Fiscal Year 2023 Financial Results Conference CallWhen: Wednesday, November 8, 2023Time: 11

New leadership team executing on its operational transformation program with results beginning to materialize.Cash flow from operations for the six months ended July 1, 2023 increased by $16 million as compared to the same period in 2022.Secured $60 million term loan, $30 million revolver, and $75 million accordion for future acquisitions.Declared quarterly cash dividend of eleven cents ($0.11) per share to common shareholders, representing the Company's 332nd consecutive quarterly dividend.SHELTON, CT / ACCESSWIRE / August 8, 2023 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other

SHELTON, CT / ACCESSWIRE / July 21, 2023 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the second quarter fiscal year 2023 after the market close on Tuesday, August 8, 2023.Management will hold a conference call and webcast on Wednesday, August 9, 2023 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q2 Fiscal Year 2023 Financial Results Conference CallWhen: Wednesday, August 9, 2023Time: 11:00 a.m.

Net sales from continuing operations rose 5% to $72.5 million compared to last year's period.Inventory down 11% compared to December 31, 2022; working capital also reduced quarter over quarter.New leadership team focusing on efficient operations that consistently deliver strong results.SHELTON, CT / ACCESSWIRE / May 9, 2023 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, today announced the results of operations for the first fiscal quarter ended April 1, 2023.President and CEO Mark Hernandez commented, "The first quarter was a period of significant change for

SHELTON, CT / ACCESSWIRE / April 27, 2023 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the first quarter fiscal year 2023 after the market close on Tuesday, May 9, 2023.Management will hold a conference call and webcast on Wednesday, May 10, 2023 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q1 Fiscal Year 2023 Financial Results Conference CallWhen: Wednesday, May 10, 2023Time: 11:00 a.m. ETDial

Strong demand across core markets, combined with superb execution by our teams, drove growth in net sales from continuing operations to $279.3 million in 2022, an increase of 13% compared to net sales from continuing operations in 2021.To streamline our portfolio of businesses and build scale in our largest businesses, we divested Argo EMS in the fourth quarter of 2022. With this divestiture completed, we are focused on accelerating organic growth, new product innovation, and margin enhancement at our core businesses.Eastern's balance sheet remains strong with net leverage of 2.27x as of the end of 2022, down from 2.46x at the end of 2021. We made total debt payments of $17.5 million, of whi

SHELTON, CT / ACCESSWIRE / February 23, 2023 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the fourth quarter and fiscal year 2022 after the market close on Tuesday, March 14, 2023.Management will hold a conference call and webcast on Wednesday, March 15, 2023, at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q4 and Fiscal Year 2022 Financial Results Conference CallWhen: Wednesday, March 15, 2023Tim

Net sales from continuing operations grew to a new record of $71.6 million in the third quarter of 2022, an increase of 12% compared to net sales from continuing operations in the third quarter of 2021. Orders remained strong and the backlog at the end of the quarter increased to $85.7 million compared to $83.1 million in the prior year quarter.Earnings per diluted share from continuing operations for the third quarter of 2022 were $0.72, compared to $0.61 for the third quarter of 2021. The change in earnings was primarily the result of an increase in sales volumes.Balance sheet continues to remain solid with a strong current ratio of 2.9x for the third quarter of 2022, compared to 2.7x for

NAUGATUCK, CN / ACCESSWIRE / October 25, 2022 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the third quarter of fiscal year 2022 after the market close on Monday, November 7, 2022.Management will hold a conference call and webcast on Tuesday, November 8, 2022, at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q3 Fiscal Year 2022 Financial Results Conference CallWhen: Tuesday, November 8, 2022Time: 1

Second Quarter 2022 Net Sales from Continuing Operations Grew 14% Over Prior-Year PeriodEarnings Per Share from Continuing Operations Grew 34% Over Prior-Year PeriodNet sales from continuing operations grew to a new record of $69.5 million in the second quarter of 2022, an increase of 14% compared to net sales from continuing operations in the second quarter of 2021. Orders remained strong and the backlog at the end of the quarter was $82.8 million.Earnings per diluted share from continuing operations for the second quarter of 2022 were $0.59, compared to $0.44 for the second quarter of 2021. The change in earnings was primarily the result of an increase in sales volumes.Liquidity continues

NAUGATUCK, CT / ACCESSWIRE / July 21, 2022 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the second quarter of fiscal year 2022 after the market close on Monday, August 8, 2022.Management will hold a conference call and webcast on Tuesday, August 9, 2022 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q2 Fiscal Year 2022 Financial Results Conference CallWhen: Tuesday, August 9, 2022Time: 11:00 a.m.

Net sales from continuing operations grew to a record $69.0 million in the first quarter of 2022, an increase of 12% compared to net sales from continuing operations in the first quarter of 2021. Customer orders were strong and our backlog at the end of the first quarter of 2022 was up 23% to $85.8 million from $69.7 million at the end of the first quarter of 2021.Gross margin was 21% in the first quarter of 2022, compared to 25% in the first quarter of 2021, as raw materials costs accelerated and our latest round of price increases will not take effect until May and June of 2022.Earnings per diluted share from continuing operations for the first quarter of 2022 were $0.43, compared to $0.90

NAUGATUCK, CT / ACCESSWIRE / April 19, 2022 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the first quarter fiscal year 2022 after the market close on Monday, May 9, 2022.Management will hold a conference call and webcast on Tuesday, May 10, 2022 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q1 Fiscal Year 2022 Financial Results Conference CallWhen: Tuesday, May 10, 2022Time: 11:00 a.m. ETDial-in

Eastern Announces Upcoming Retirement of John Sullivan, CFO, and Hiring of Peter O'HaraStrong demand across core markets, combined with superb execution by our teams, drove growth in our net sales from continuing operations to $246.5 million in 2021, an increase of 25% compared to net sales from continuing operations in 2020. Customer orders were strong and backlog grew to $82.8 million at the end of 2021 compared to $64.7 million at the end of 2020.Gross margin was 23% in 2021, compared to 24% in 2020, as price increases and cost recovery actions largely offset elevated material costs and freight rates. We estimate that unrecovered raw material cost increases in 2021 were approximately $5.5

NAUGATUCK, CN / ACCESSWIRE / March 8, 2022 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the fourth quarter and fiscal year 2021 after the market close on Thursday, March 17, 2022.Management will hold a conference call and webcast on Friday, March 18, 2022 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q4 and Fiscal Year 2021 Financial Results Conference CallWhen: Friday, March 18, 2022Time: 11:00

NAUGATUCK, CT / ACCESSWIRE / November 3, 2021 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will release financial results for the third quarter of 2021 after the market close on Wednesday, November 10, 2021.Management will hold a conference call and webcast on Thursday, November 11, 2021 at 11:00 a.m. ET to discuss the Company's results and other matters. For those who cannot listen to the live broadcast, a replay of the webcast will be available.What: The Eastern Company Q3 2021 Financial Results Conference CallWhen: Thursday, November 11, 2021Time: 11:00 a.m. ETDial-

NET SALES from continuing operations INCREASED BY 55%; NET EARNINGS from continuing operations grew BY 32%Eastern accelerates its transformation and focus on growing its Engineered Solutions segment. The Company reports its Diversified Products segment as "discontinued operations" while exploring strategic alternatives for these businesses.Strong demand across core markets drove second quarter of 2021 net sales from continuing operations growth of 55% to $61.2 million. Customer orders were strong and backlog grew to $89.2 million at the end of the second quarter of 2021, compared with $55.3 million at the end of the second quarter of 2020.Rapid escalation in material costs and freight rates