EASTERN CO (EML) Form 10-Q — Aug 11, 2026
The Eastern Company's Q2 2026 net sales fell 12% year over year to $61.8 million, and core profitability weakened sharply, with adjusted diluted EPS dropping to $0.15 from $0.57 and adjusted EBITDA nearly halving to $3.4 million. Headline GAAP results look strong only because of a one-time item: net income of $5.6 million ($0.94 per diluted share) versus $2.0 million ($0.33) a year ago was driven by a $6.5 million bargain purchase gain on the June 1, 2026 acquisition of aerospace and defense suppliers Sinecera LLC (Crown Precision) and Sungear LLC for $7.85 million.
Key figures
- Eps
- 0.94
- Revenue
- 61821757
- Net Income
- 5649285
- Revenue Yoy
- -12%
- Cash Position
- 15108764
- Shares Outstanding
- 6017558
- Backlog
- 126200000
- Revolver capacity
- 100000000
- Adjusted ebitda q2
- 3429000
- Backlog growth pct
- 45
- Revolver available
- 59000000
- Tariff expenses q2
- 1900000
- Gross margin q2 pct
- 20.6
- Six month net sales
- 121498295
- Avg repurchase price
- 20.76
- Q2 share repurchases
- 19529
- Six month net income
- 6289415
- Bargain purchase gain
- 6529299
- Six month diluted eps
- 1.04
- Adjusted net income q2
- 925000
- Adjusted diluted eps q2
- 0.15
- Q2 net sales prior year
- 70164086
- Total debt to equity pct
- 32.1
- Acquisition purchase price
- 7850000
- Tariff expenses six months
- 5000000
- Adjusted ebitda q2 prior year
- 6735000
- Long term debt proceeds drawn
- 8000000
- Gross margin q2 prior year pct
- 23.3
- Operating cash flow six months
- 12036548
- Six month net sales prior year
- 136101298
- Adjusted diluted eps q2 prior year
- 0.57
- Shares remaining repurchase authorization
- 256275
Price after filing
Close on the filing date to close N calendar days later (from $24.90). Historical, not a forecast.
AI analysis
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