Zacks Initiates Coverage of Eastern With Neutral Recommendation [Yahoo! Finance]
Eastern Company (The) (EML)
US:NASDAQ Investor Relations:
easterncompany.com
Company Research
Source: Yahoo! Finance
The comprehensive report delves into the company's robust backlog growth, operational efficiencies, strong financial health and potential challenges, offering an insightful analysis for investors. Eastern has demonstrated significant backlog growth, with a 35% increase from $72 million as of Apr 1, 2023, to $97.4 million as of Mar 30, 2024. This growth indicates a solid demand for Eastern's products, providing a stable foundation for future revenue and operational stability. Eastern has made notable strides in improving operational efficiency. The company reduced its inventory by $3.5 million from the end of 2023, enhancing cash flow and lowering holding costs. Additionally, Eastern's gross margin improved to 24% in Q1 2024 from 21% in Q1 2023, driven by cost-saving initiatives and better price-cost alignment. Eastern's financial health is reinforced by a significant reduction in long-term debt, from $64.1 million at the end of 2022 to $43.1 million by Q1 2024. This reduction en
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EML
News
- Philip Morris International Announces the Acquisition of a Minority Stake in Egypt-Based Eastern Company [Yahoo! Finance]Yahoo! Finance
- Gulf markets drop on weaker earnings; US inflation data in focus [Reuters]Reuters
- The Eastern Company (NASDAQ:EML) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Major Gulf markets muted as Mideast conflict rages [Reuters]Reuters
- The Eastern Company Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
EML
Sec Filings
- 6/18/24 - Form 4
- 6/18/24 - Form 4
- 6/18/24 - Form 4
- EML's page on the SEC website