Welcome to our dedicated page for Eastern Co news (Ticker: EML), a resource for investors and traders seeking the latest updates and insights on Eastern Co stock.
Eastern Co (NASDAQ: EML), a leader in industrial hardware and security solutions since 1858, maintains this dedicated news hub for stakeholders tracking its manufacturing innovations and market position. Access timely updates on operational developments, financial performance, and strategic initiatives directly from the source.
This resource consolidates Eastern Co's official announcements including earnings disclosures, product launches, and partnership agreements. Investors benefit from structured updates about metal casting technologies, composite panel advancements, and security system innovations that drive the company's growth in transportation and industrial sectors.
All content undergoes rigorous verification to ensure alignment with financial reporting standards. Users can monitor evolving developments across Eastern Co's global operations while maintaining perspective on its historical engineering expertise. Bookmark this page for efficient tracking of material events impacting EML's market trajectory.
The Eastern Company (NASDAQ: EML) reported net sales of $279.3 million for 2022, marking a 13% increase from 2021. The growth was driven by strong demand across commercial vehicle and industrial markets, alongside new product launches. However, the company experienced a 32% decline in net income, totaling $11.1 million due to restructuring costs and property sales. The gross margin dropped to 21%, affected by rising material and freight costs. The company reduced total debt to $64.1 million, achieving a net leverage ratio of 2.27x. A conference call is scheduled for March 15, 2023, to discuss these results further.
The Eastern Company (NASDAQ:EML) will announce its Q4 and fiscal year 2022 financial results on March 14, 2023, after the market closes. Following this, management will host a conference call on March 15, 2023, at 11:00 a.m. ET to discuss the results and other related matters. Interested participants can listen live or access a replay later. The Eastern Company specializes in engineered solutions for commercial transportation, logistics, and industrial markets, showing a global operational presence across the U.S., Canada, Mexico, U.K., Taiwan, and China.
The Eastern Company (EML) announced its regular quarterly cash dividend of $0.11 per share, marking the company's 330th consecutive quarterly dividend. This dividend will be payable on March 15, 2023 to common shareholders of record as of February 15, 2023. The Eastern Company focuses on industrial markets with significant growth opportunities across multiple countries, including the U.S., Canada, Mexico, U.K., Taiwan, and China. The company aims to provide engineered solutions tailored to niche markets, reflecting a commitment to shareholder returns and sustained business operations.
The Eastern Company (NASDAQ:EML) has appointed Nicholas Vlahos as the new Chief Financial Officer, effective February 3, 2023. Vlahos succeeds Peter O'Hara, who resigned to pursue other opportunities. Mark Hernandez, President and CEO, praised Vlahos for his strong leadership and integral role in the company's growth since joining in 2017. Vlahos aims to focus on enhancing systems and processes to drive financial performance and shareholder value. Eastern Company operates across various industrial markets, offering unique engineered solutions globally, with a focus on long-term macroeconomic opportunities.
The Eastern Company (NASDAQ:EML) has appointed Mark Hernandez as its new CEO, effective January 23, 2023, succeeding August Vlak, who led the company since 2016. Hernandez brings extensive industry experience, having held leadership roles at Navistar and McKinsey & Company, and aims to drive organic growth and long-term shareholder value. The Board expresses gratitude for Vlak's leadership during challenging times. The Eastern Company operates across various global markets, focusing on engineered solutions for industrial sectors.
The Eastern Company (NASDAQ:EML) announced that President & CEO August Vlak and CFO Peter O'Hara will present at the Sidoti December Virtual Investor Conference on December 7-8, 2022. The presentation is set for 1:00 PM ET on December 7, focusing on the company's growth strategies in electrification, digitization, and automation. Investors can register for the event and one-on-one meetings through Sidoti’s website. The Eastern Company operates in several countries, providing engineered solutions across various industries.
The Eastern Company (NASDAQ:EML) reported record net sales of $71.6 million for Q3 2022, a 12% increase from Q3 2021, driven by strong orders and growth in transport packaging. Adjusted EBITDA rose to $7.7 million, up from $7.1 million year-over-year. Earnings per diluted share increased 18% to $0.72. The backlog grew to $85.7 million. The company maintained a solid current ratio of 2.9x and repaid nearly $3 million in debt during the quarter. Management remains optimistic about future growth despite challenges from raw material inflation and supply chain constraints.
The Eastern Company (NASDAQ:EML) declared a quarterly cash dividend of $0.11 per share, payable on December 15, 2022, to shareholders of record by November 15, 2022. This marks the company's 329th consecutive quarterly dividend, reflecting its commitment to return value to its shareholders.
The Eastern Company specializes in manufacturing engineered solutions across various niche markets, with operations in multiple countries, including the U.S., Canada, and China.
The Eastern Company (NASDAQ:EML) will release its Q3 fiscal results on November 7, 2022, after market close. A conference call is scheduled for November 8, 2022, at 11:00 a.m. ET, where management will discuss the results and other matters. Participants can join via a toll-free number or online webcast. The Eastern Company focuses on engineered solutions for niche industrial markets, operating across several countries. For more information, visit easterncompany.com.
The Eastern Company (NASDAQ:EML) announced the sale of its Argo EMS business, aiming to streamline its operations and enhance growth in its core sectors. President & CEO August Vlak stated that this divestiture aligns with the company's strategy to focus on three principal businesses and is expected to strengthen operating margins. The proceeds from the sale will primarily be used to reduce debt, with an anticipated gain recorded in the fourth quarter of fiscal 2022. This completes the divestiture of all non-core assets.
FAQ
What is the current stock price of Eastern Co (EML)?
What is the market cap of Eastern Co (EML)?
