Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Eastern Company (EML)
NASDAQ:EML
Holding EML?
Track your performance easily
Earnings Data
Report Date
Mar 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$0.56Same Quarter Last Year
Based on 0 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -12.13%
|Next Earnings Date:Mar 18, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance with significant increases in sales, income, and backlog, alongside an improved gross margin and a strategic new CEO appointment. However, these positives were offset by a substantial loss from discontinued operations and increased expenses, leading to a more balanced outlook.Company Guidance
During the Eastern Company's third quarter earnings call for 2024, the executives provided several key financial metrics and strategic updates. The company reported a 15% increase in net sales, reaching $71.3 million, driven by demand for returnable packaging products and truck mirror assemblies. The backlog rose 13% to $97.2 million by the end of September 2024. Gross margin improved to 25.5% from 24.9% in the prior year, while selling and administrative expenses increased by 22% to $1.9 million. Additionally, the company recognized a $19.2 million net loss from the write-down of the Big 3 Mold business, which was reclassified as discontinued operations. Adjusted EBITDA from continuing operations rose to $8.7 million, and net income increased to $4.7 million, or $0.75 per diluted share. The company also highlighted a share repurchase of 50,000 shares, bringing the total to 110,000 under the buyback program. Lastly, they announced the appointment of Ryan Schroder as the new CEO, expected to drive long-term growth.Strong Financial Performance
Net sales increased 15% to $71.3 million, and net income rose to $4.7 million or $0.75 per diluted share, compared to $3.5 million or $0.55 per diluted share in the previous year.
Increased Backlog
Backlog rose 13% to $97.2 million, primarily driven by increased orders for truck mirror assemblies and returnable transport packaging products.
Improved Gross Margin
Gross margin increased to 25.5% from 24.9% in the previous year, reflecting improved price cost alignment and cost savings initiatives.
Appointment of New CEO
Ryan Schroder, a seasoned executive with a strong record in manufacturing leadership, was appointed as the new CEO.
---
EML Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
EML Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $31.40 | $30.49 | -2.90% |
| Aug 06, 2024 | $27.39 | $26.92 | -1.72% |
| May 06, 2024 | $31.16 | $27.74 | -10.98% |
| Mar 12, 2024 | $24.76 | $25.27 | +2.06% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Eastern Company (EML) report earnings?
Eastern Company (EML) is schdueled to report earning on Mar 18, 2025, TBA Not Confirmed.
What is Eastern Company (EML) earnings time?
Eastern Company (EML) earnings time is at Mar 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EML EPS forecast?
Currently, no data Available
---