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Investor Relations14 Oct 2025
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The Eastern Company (EML) investor relations material
The Eastern Company Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary6 Aug, 2025
Executive summary
Q2 2025 revenue/net sales were $70.2M, down 3% year-over-year, mainly due to lower truck mirror assembly sales, partially offset by higher latch, handle, and transport packaging sales.
Net income from continuing operations was $2.0M ($0.33 per share), down from $4.1M ($0.65 per share) year-over-year, impacted by $1.8M in restructuring charges.
Gross margin declined to 23.3% from 25.4% in Q2 2024, mainly due to higher raw material costs and a shift to in-house sourcing.
Cost reduction initiatives included $1.8M in restructuring charges, facility closures, headcount reductions, and strategic refreshes, expected to yield $4M in annual savings starting 2026.
Sale of Big 3 Mold's ISBM business unit and personnel reductions strengthened the operating position, with discontinued operations reflected in all periods.
Financial highlights
Adjusted net income for Q2 2025 was $3.5M ($0.57 per share), compared to $4.1M ($0.65 per share) in Q2 2024.
Adjusted EBITDA for Q2 2025 was $6.7M, down from $8.0M in Q2 2024.
SG&A expenses rose by 9.4% in Q2 2025 due to restructuring charges, partially offset by lower personnel and other costs.
Inventory was $54.1M as of June 28, 2025, down from year-end 2024; accounts receivable increased to $40.2M.
Debt reduced by $5.9M and $2.1M spent on share repurchases (82,000 shares) year-to-date.
Outlook and guidance
Management expects recovery in coming quarters, focusing on margin protection, flexible supply chains, and sufficient liquidity for working capital needs.
Annual cash cost savings of $4M expected from restructuring actions starting in 2026.
Plans to remain active and disciplined in M&A, leveraging a conservative balance sheet.
Company continues to monitor tariff environment and the impact of the OBBBA on future tax provisions.
No material changes to risk factors or critical accounting estimates since the last annual report.
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Q3 20255 Nov, 2025
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Frequently asked questions
The Eastern Company manufactures industrial hardware, security products, and metal castings for a variety of markets including commercial, industrial, and military sectors. The company’s product portfolio includes locks, latches, access control systems, and custom-engineered solutions. Eastern serves OEMs and distributors globally with specialized hardware products. The company is headquartered in Shelton, Connecticut, and its shares are listed on the NASDAQ.
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