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) 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.
The Eastern Company (NASDAQ:EML) has declared its regular quarterly cash dividend of $0.11 per share, payable on September 15, 2022, to shareholders on record as of August 15, 2022. This marks the 328th consecutive quarterly dividend for the company, reflecting its ongoing commitment to returning value to shareholders. The Eastern Company operates across various locations, including the U.S., Canada, and China, focusing on engineered solutions for industries with macroeconomic growth potential.
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.
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