Business
The Eastern Company Reports First Quarter 2025 Results
Net sales from continuing operations of $63.3 million, Adjusted EBITDA from continuing operations of $4.6 million, and Earnings per share from continuing operations of $0.31 Completed sale of Big 3 Mold's ISBM business unit on April 30, 2025 Revamped ...
About this update from Eastern Company (the)
[{"type":"list","items":[{"val":[{"type":"text","content":"Net sales from continuing operations of $63.3 million, Adjusted EBITDA from continuing operations of $4.6 million, and Earnings per share from continuing operations of $0.31","length":173,"tagName":"p"}]},{"val":[{"type":"text","content":"Completed sale of Big 3 Mold's ISBM business unit on April 30, 2025","length":71,"tagName":"p"}]},{"val":[{"type":"text","content":"Revamped Big 3 Precision's geographic footprint for improved focus, production and cost-efficiency","length":102,"tagName":"p"}]},{"val":[{"type":"text","content":"Completed 200,000-share repurchase program; new 400,000 share buyback program authorized by Board","length":97,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":443,"olType":false},{"type":"text","content":"SHELTON, CT / ACCESS Newswire / May 6, 2025 / The Eastern Company ("Eastern" or the "Company") (NASDAQ:EML), an industrial manufacturer of engineered solutions serving commercial transportation, logistics, and other industrial markets, today announced the results of operations for the first fiscal quarter ended March 29, 2025.","length":348,"tagName":"p"},{"type":"text","content":"Chief Executive Officer Ryan Schroeder commented, "The first quarter was a period of significant change for Eastern as the Company's new leadership team began implementing its business plans and taking a wide variety of steps to bolster sales, reduce costs and improve the operating efficiency of our businesses. More recently, on April 30, 2025, we completed the sale of Eastern's Big 3 Mold's ISBM business unit, one of three separate units within Big 3 Mold. In addition, we have been making steady progress in revamping the footprint of Big 3 Precision, including transitioning its engineering and prototyping from Dearborn, MI to a smaller and dedicated location in Sterling Heights, MI, and consolidating its production activities into Big 3 Precision's existing Centralia, IL facility, This process, which we expect to have a significant positive impact on Big 3's operating costs, will be completed during the second quarter of 2025.","length":966,"tagName":"p"},{"type":"text","content":""Today's macro-economic environment is challenging, particularly in the heavy-duty truck market, which negatively impacted our Q1 results and...