Eastern Company

The Eastern Co. engages in the design, manufacture and sale of industrial hardware, security products and metal products. It operates through the following segments: Engineered Solutions and Diversified Products. The Engineered Solutions segment consists of Big 3 Precision. The Diversified Products segment consists of Frazer & Jones, Greenwald Industries, and Argo EMS. The company was founded by Eben Tuttle in October 1858 and is headquartered in Naugatuck, CT.

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Eastern Company excels in Q2 2024, navigating market challenges

Eastern Company's Q2 2024 performance reflects strong financial growth, driven by increased sales, improved margins, and operational efficiency.
Despite challenges in the commercial vehicle market, the company's strategic focus on agility, operational excellence, and debt reduction underpins its profitability.
With a commitment to consistent earnings and shareholder value, Eastern is well-positioned to navigate market uncertainties and capitalize on growth opportunities.

Eastern Company (EML) reports robust Q3 earnings and appoints new CEO

Eastern Company (EML) delivered strong financial results in Q3 2024, driven by increased net sales and improved margins. The strategic sale of a business unit underscores a focus on core strengths in manufacturing. The appointment of a new CEO with relevant experience positions the company for continued growth.

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The Eastern Co. engages in the design, manufacture and sale of industrial hardware, security products and metal products. It operates through the following segments: Engineered Solutions and Diversified Products. The Engineered Solutions segment consists of Big 3 Precision. The Diversified Products segment consists of Frazer & Jones, Greenwald Industries, and Argo EMS. The company was founded by Eben Tuttle in October 1858 and is headquartered in Shelton, CT.

The Eastern Company (NASDAQ:EML ) Q3 2024 Earnings Call Transcript November 6, 2024 11:00 AM ET Company Participants Marianne Barr - Treasurer & Secretary James Mitarotonda - Chairman of the Board Nicholas Vlahos - Vice President and Chief Financial Officer Conference Call Participants Operator Good morning and welcome to the Eastern Company's Third Quarter Fiscal Year 2024 Earnings Call. [Operator Instructions] Please note this conference is being recorded.

The Eastern Company (EML) Q3 2024 Earnings Call Transcript

EML posts strong Q3 growth, with EPS and net sales rising 36% and 15%, respectively, driven by demand in transport packaging, despite higher SG&A expenses.

Eastern's Q3 Earnings Surge 36% Y/Y on Packaging Demand

ANNOUNCES A NEW CEO Net sales from continuing operations increase to $71.3 million in Q3 2024 compared to $62.0 million in Q3 2023 Gross margin from continuing operations increases to 25.5% in Q3 2024 compared to 24.9% in Q3 2023 Earnings per diluted share from continuing operations increase 36% to $0.75 in Q3 2024 compared to $0.55 in Q3 2023 Eastern advances its business transformation by reporting Big 3 Mold business as discontinued operations Eastern 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, logistics, and other industrial markets, today announced the results of operations for the third fiscal quarter ended September 28, 2024 and that its Board of Directors has named Ryan Schroeder the Company's next Chief Executive Officer, effective November 6, 2024. Mr. Schroeder, a seasoned executive with a proven history of leading manufacturing companies to sustained long-term growth, will succeed Mark Hernandez as CEO.

The Eastern Company Reports Third Quarter 2024 Results

SHELTON, CT / ACCESSWIRE / October 30, 2024 / The Eastern Company (NASDAQ:EML) today announced the declaration of its regular quarterly cash dividend of eleven cents ($0.11) per share, payable December 13, 2024, to common shareholders of record as of November 15, 2024. This dividend represents the Company's 337th consecutive quarterly dividend.

The Eastern Company Declares 337th Consecutive Quarterly Cash Dividend

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.

The Eastern Company Announces Timing of Third Quarter Fiscal Year 2024 Earnings Release and Conference Call

The Eastern Company (NASDAQ:EML ) Q2 2024 Results Conference Call August 7, 2024 11:00 AM ET Company Participants Marianne Barr - Treasurer & Corporate Secretary Mark Hernandez - President, CEO & Director Nicholas Vlahos - CFO & VP Operator Greetings. Welcome to the Eastern Company's Second Quarter Fiscal Year 2024 Earnings Call.

The Eastern Company (EML) Q2 2024 Earnings Call Transcript

Eastern (EML) posted second-quarter fiscal 2024 net income per share of 56 cents, a nearly 155% increase from the prior-year quarter, driven by robust demand in key product lines and strategic adjustments.

Eastern (EML) Q2 Earnings Rise Y/Y on Strong Truck Mirror Sales

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.

The Eastern Company Reports Second Quarter 2024 Results

SHELTON, CT / ACCESSWIRE / July 31, 2024 / The Eastern Company (NASDAQ:EML) today announced the declaration of its regular quarterly cash dividend of eleven cents ($0.11) per share, payable September 13, 2024, to common shareholders of record as of August 15, 2024. This dividend represents the Company's 336th consecutive quarterly dividend.

The Eastern Company Declares 336th Consecutive Quarterly Cash Dividend

SHELTON, CT / ACCESSWIRE / July 1, 2024 / The Eastern Company ("Eastern") (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, announced today that the company has been added as a member of the broad-market Russell 3000® Index and the Russell 2000® Index, effective today after the US equity markets open, as part of the 2024 Russell indexes reconstitution. "We are pleased to be included in the Russell 3000® index and to be added to the Russell 2000® Index, a widely used performance benchmark for emerging U.S. companies," said Eastern's President and CEO Mark Hernandez.

The Eastern Company Announces Addition to the Russell 3000(R) and Russell 2000(R) Indexes

Discover why Zacks rates Eastern as "Neutral", being the first on Wall Street to initiate coverage on the stock. Dive into EML's impressive backlog growth, operational efficiencies and robust financial health while exploring the challenges posed by sales declines and supply chain disruptions.

Zacks Initiates Coverage of Eastern With Neutral Recommendation

The Eastern Company (NASDAQ:EML ) Q1 2024 Earnings Conference Call May 7, 2024 11:00 AM ET Company Participants Marianne Barr - Treasurer & Corporate Secretary Mark Hernandez - President, CEO & Director Nicholas Vlahos - CFO & VP Conference Call Participants Ross Davisson - Banneton Capital Operator Good morning, everyone, and welcome to the Eastern company's First Quarter Fiscal Year 2024 Earnings Call. [Operator Instructions].

The Eastern Company (EML) Q1 2024 Earnings Call Transcript

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.

The Eastern Company Reports First Quarter 2024 Results

SHELTON, CT / ACCESSWIRE / April 25, 2024 / The Eastern Company (NASDAQ:EML) today announced the declaration of its regular quarterly cash dividend of eleven cents ($0.11) per share, payable June 17, 2024, to common shareholders of record as of May 15, 2024. This dividend represents the Company's 335th consecutive quarterly dividend.

The Eastern Company Declares 335th Consecutive Quarterly Cash Dividend

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.

The Eastern Company Announces Timing of First Quarter Fiscal Year 2024 Earnings Release and Conference Call

SHELTON, CT / ACCESSWIRE / April 5, 2024 / The Eastern Company (NASDAQ:EML), an industrial manufacturer of unique engineered solutions serving commercial transportation, logistics, and other industrial markets, will conduct its Annual Meeting of Shareholders virtually on Thursday, April 25, 2024. For those who cannot listen to the live broadcast, a replay of the webcast will be made available.

The Eastern Company Announces Timing of Virtual Annual Meeting of Shareholders

The Eastern Company (EML) Q4 2023 Earnings Call Transcript

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.

The Eastern Company Reports Fourth Quarter and Full Year 2023 Results

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.

The Eastern Company Announces Timing of Fourth Quarter and Fiscal Year 2023 Earnings Release and Conference Call

SHELTON, CT / ACCESSWIRE / February 5, 2024 / The Eastern Company (NASDAQ:EML) today announced the declaration of its regular quarterly cash dividend of eleven cents ($0.11) per share, payable March 15, 2024, to common shareholders of record as of February 15, 2024. This dividend represents the Company's 334th consecutive quarterly dividend.

The Eastern Company Declares 334th Consecutive Quarterly Cash Dividend

The Eastern Company recently appointed a new CEO and CFO, which have ambitious margin improvement plans. The company is well-positioned to benefit from the growth of the Internet of Things sector. Despite a decrease in revenue, the company's gross profit remained stable and it has a strong cash flow profile.

The Eastern Company Aims For A 30% Gross Margin

The Eastern Company (EML) Q3 2023 Earnings Call Transcript

SHELTON, CT / ACCESSWIRE / November 8, 2023 / The Eastern Company (NASDAQ:EML) today announced that President & CEO Mark Hernandez will present at the Sidoti Micro-Cap Conference, taking place virtually on Wednesday, November 15 and Thursday, November 16, 2023. Joining him will be Vice President & CFO Nicholas Vlahos.

The Eastern Company To Present at Virtual Investor Conference on November 15-16, 2023

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.

The Eastern Company Reports Third Quarter 2023 Results

SHELTON, CT / ACCESSWIRE / October 31, 2023 / The Eastern Company (NASDAQ:EML) today announced the declaration of its regular quarterly cash dividend of eleven cents ($0.11) per share, payable December 15, 2023, to common shareholders of record as of November 15, 2023. This dividend represents the Company's 333rd consecutive quarterly dividend.

News for Eastern Company Stock (EML)