Eastern Co Stock Price, News & Analysis

The Eastern Company (NASDAQ:EML) will announce its Q2 fiscal year 2022 financial results on August 8, 2022, after market close. A conference call is scheduled for August 9, 2022, at 11:00 a.m. ET to discuss these results. Participants can join via phone or webcast. The company specializes in engineered solutions for industrial markets and operates in several countries including the U.S., Canada, and China. For more details, visit easterncompany.com.

The Eastern Company (NASDAQ:EML) has appointed Mark Hernandez and Michael Mardy to its Board of Directors. Hernandez, currently Executive Vice President at Navistar Inc, brings extensive experience in manufacturing and logistics, previously serving at McKinsey & Company and Daimler AG. Mardy has a robust financial background, having held key positions at Tumi Holdings and other companies. The Chairman, James Mitarotonda, expressed confidence in their ability to enhance board contributions with their industry expertise.

The Eastern Company reported record net sales of $69.0 million in Q1 2022, up 12% year-over-year. Backlog increased 23% to $85.8 million. However, gross margin declined to 21% from 25% due to rising raw material costs, with nickel prices soaring by 41%. Earnings per diluted share fell to $0.43, down from $0.90 in 2021, indicating pressure from increased costs despite higher sales volumes. The company's management remains optimistic about future growth, anticipating continued demand in core markets.

The Eastern Company (NASDAQ:EML) has declared a quarterly cash dividend of $0.11 per share, payable on June 15, 2022, to shareholders of record by May 13, 2022. This marks the company's 327th consecutive quarterly dividend, reflecting its commitment to returning value to shareholders. The Eastern Company focuses on engineered solutions for niche markets, operating in the U.S., Canada, Mexico, U.K., Taiwan, and China.

The Eastern Company (NASDAQ:EML) will hold its Annual Meeting of Shareholders virtually on April 26, 2022, at 11:00 a.m. ET. A replay of the webcast will be available for those unable to attend live. The company specializes in engineered solutions for commercial transportation and logistics, focusing on long-term growth opportunities across various global locations, including the U.S., Canada, Mexico, U.K., Taiwan, and China. Detailed information can be found on their website.

The Eastern Company (NASDAQ: EML) announced it will release its financial results for Q1 fiscal 2022 after market close on May 9, 2022. A conference call to discuss these results is scheduled for May 10, 2022, at 11:00 a.m. ET. Investors can join the call via dial-in or watch it online. The company, which focuses on engineered solutions for various industrial markets, operates globally from locations in the U.S., Canada, Mexico, U.K., Taiwan, and China.

The Eastern Company (EML) reported a 25% increase in net sales from continuing operations for 2021, reaching $246.5 million. This growth was fueled by strong demand and new product launches, with a backlog of $82.8 million, up 28% from 2020. Gross margin slightly decreased to 23% due to rising material costs, with unrecovered costs estimated at $5.5 million. Earnings per diluted share rose 47% to $2.58. The company also announced the retirement of CFO John Sullivan, effective May 15, 2022, and the hiring of Peter O'Hara, who brings extensive finance experience.

The Eastern Company (NASDAQ: EML) will release its financial results for Q4 and fiscal year 2021 on March 17, 2022, after market close. A conference call will follow on March 18, 2022, at 11:00 a.m. ET, to discuss the results. Dial-in options are available for both US and international participants. The Company, which operates in multiple locations including the U.S. and China, specializes in engineered solutions for commercial transportation and logistics markets.

The Eastern Company (NASDAQ:EML) has declared a quarterly cash dividend of $0.11 per share, payable on March 15, 2022, to shareholders of record as of March 1, 2022. This marks the company's 326th consecutive quarterly dividend, demonstrating a commitment to returning value to shareholders. Eastern Company operates in various countries, including the U.S., Canada, and China, focusing on providing engineered solutions to niche markets. The firm aims for long-term growth despite potential risks associated with market conditions and the ongoing effects of COVID-19.