Eastern Company (The) (EML) Financial Statements (2024 and earlier)

Company Profile

Business Address 3 ENTERPRISE DRIVE
SHELTON, CT 06484
State of Incorp. CT
Fiscal Year End December 31
Industry (SIC) 342 - Cutlery, Handtools, And General Hardware (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments98610,1886,16816,13118,03113,926
Cash and cash equivalents  10,1886,16816,10217,99713,926
Short-term investments986  2934 
Receivables37,63143,89344,179(147)37,94231,419
Inventory, net of allowances, customer advances and progress billings59,27264,63762,86253,11254,59952,773
Inventory59,27264,63762,86253,11254,59952,773
Asset, held-for-sale, not part of disposal group   3,522   
Other undisclosed current assets14,3476,5996,94442,6394,3443,072
Total current assets:112,237125,316123,675111,736114,915101,190
Noncurrent Assets
Operating lease, right-of-use asset17,23612,21811,13912,76812,342
Property, plant and equipment28,29026,11228,30439,95242,02329,853
Long-term investments and receivables3752,277    
Accounts and financing receivable, after allowance for credit loss3752,277    
Intangible assets, net (including goodwill)91,61895,112100,485109,395111,38248,808
Goodwill70,77770,77772,21276,89579,51834,840
Intangible assets, net (excluding goodwill)20,84124,33528,27332,50031,86413,968
Deferred income tax assets2,284    
Other undisclosed noncurrent assets  4892,7271,677 1,396
Total noncurrent assets:139,802136,207142,654163,793165,74780,058
TOTAL ASSETS:252,039261,523266,329275,528280,663181,248
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities35,25534,91138,81831,30526,74425,753
Employee-related liabilities4,3763,6753,8154,160
Accounts payable25,31927,63829,63423,50819,96118,498
Accrued liabilities9,9367,2734,8084,1222,9683,096
Debt3,0549,0117,5006,4385,1882,325
Business combination, contingent consideration, liability      2,070
Other undisclosed current liabilities4,4243,0603,2462,924  
Total current liabilities:42,73446,98149,56440,66631,93130,148
Noncurrent Liabilities
Long-term debt and lease obligation41,79255,13672,45392,139105,92026,350
Long-term debt, excluding current maturities41,06455,13663,81482,25693,57826,350
Finance lease, liability728    
Liabilities, other than long-term debt35,03323,59528,55835,51837,37427,881
Deferred tax liabilities, net1,516
Deferred income tax liabilities     5,270
Liability, pension and other postretirement and postemployment benefits21,58022,84127,89034,37429,63926,011
Other liabilities6417556681,1442,465354
Operating lease, liability12,812 8,6399,88312,342
Other undisclosed noncurrent liabilities  9,1951,1522,899  
Total noncurrent liabilities:76,82587,927102,163130,556143,29454,231
Total liabilities:119,559134,908151,727171,222175,22684,379
Equity
Equity, attributable to parent, including:132,481126,615114,602104,306105,43796,869
Common stock33,95133,58632,62031,50130,65229,995
Treasury stock, value(23,280)(22,545)(20,908)20,538(20,169)(20,169)
Accumulated other comprehensive loss(22,995)(23,413)(26,533)(29,497)(25,235)(22,629)
Retained earnings (accumulated deficit)144,805138,986(129,423)122,840120,189109,671
Other undisclosed equity, attributable to parent   258,845(41,076)  
Total equity:132,481126,615114,602104,306105,43796,869
TOTAL LIABILITIES AND EQUITY:252,039261,523266,329275,528280,663181,248

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues273,455279,265246,523240,403251,743234,275
Cost of revenue
(Cost of Goods and Services Sold)
(208,502)(220,649)(189,757)(186,745)(189,890)(175,550)
Gross profit:64,95358,61656,76653,65861,85358,725
Operating expenses(49,770)(43,750)(39,319)(43,546)(41,744)(40,866)
Other undisclosed operating loss  (700) (3,112)(2,651) 
Operating income:15,18314,16617,4477,00017,45817,859
Nonoperating income (expense)(685) 3,3711,770606933
Investment income, nonoperating    2,149  
Other nonoperating expense(685)     
Interest and debt expense(3,507)(2,276)(1,748)(2,745)(1,858)(1,202)
Income from continuing operations before equity method investments, income taxes:10,99211,89119,0716,02616,20617,590
Other undisclosed income from continuing operations before income taxes 2,512    
Income from continuing operations before income taxes:10,99214,40319,0716,02616,20617,590
Income tax expense (benefit)2,407 (2,104)(620)(2,940)(3,084)
Income from continuing operations:13,39914,40316,9675,40613,26614,506
Income before gain (loss) on sale of properties:16,9675,40613,26614,506
Income from discontinued operations  1,251    
Other undisclosed net loss(4,814)(3,352)    
Net income:8,58512,30216,9675,40613,26614,506
Other undisclosed net income (loss) attributable to parent  (7,618)   
Net income available to common stockholders, diluted:8,58512,3029,3495,40613,26614,506

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:8,58512,30216,9675,40613,26614,506
Other comprehensive income (loss)4183,1202,964(4,262)664578
Comprehensive income:9,00315,42219,9311,14313,93015,084
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (7,618) (3,270)(1,820)
Comprehensive income, net of tax, attributable to parent:9,00315,42212,3131,14310,66013,264

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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