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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 10,1886,16816,13118,03113,92622,275
Cash and cash equivalents 10,1886,16816,10217,99713,92622,275
Short-term investments   2934  
Receivables43,89344,179(147)37,94231,41927,120
Inventory, net of allowances, customer advances and progress billings64,63762,86253,11254,59952,77347,269
Inventory64,63762,86253,11254,59952,77347,269
Asset, held-for-sale, not part of disposal group  3,522    
Other undisclosed current assets6,5996,94442,6394,3443,0723,401
Total current assets:125,316123,675111,736114,915101,190100,066
Noncurrent Assets
Operating lease, right-of-use asset12,21811,13912,76812,342
Property, plant and equipment26,11228,30439,95242,02329,85329,192
Long-term investments and receivables2,277     
Accounts and financing receivable, after allowance for credit loss2,277     
Intangible assets, net (including goodwill)95,112100,485109,395111,38248,808 
Goodwill70,77772,21276,89579,51834,840 
Intangible assets, net (excluding goodwill)24,33528,27332,50031,86413,968 
Deferred income tax assets    
Other noncurrent assets      47,200
Other undisclosed noncurrent assets 4892,7271,677 1,396 
Total noncurrent assets:136,207142,654163,793165,74780,05876,393
TOTAL ASSETS:261,523266,329275,528280,663181,248176,458
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities34,91138,81831,30526,74425,75322,695
Employee-related liabilities4,3763,6753,8154,1604,376
Accounts payable27,63829,63423,50819,96118,49814,712
Accrued liabilities7,2734,8084,1222,9683,0963,606
Debt9,0117,5006,4385,1882,3256,550
Business combination, contingent consideration, liability     2,0702,070
Other undisclosed current liabilities3,0603,2462,924   
Total current liabilities:46,98149,56440,66631,93130,14831,315
Noncurrent Liabilities
Long-term debt and lease obligation55,13672,45392,139105,92026,35028,675
Long-term debt, excluding current maturities55,13663,81482,25693,57826,35028,675
Finance lease, liability    
Liabilities, other than long-term debt23,59528,55835,51837,37427,88129,538
Deferred tax liabilities, net1,5161,724
Deferred income tax liabilities    5,270
Liability, pension and other postretirement and postemployment benefits22,84127,89034,37429,63926,01127,456
Other liabilities7556681,1442,465354359
Operating lease, liability 8,6399,88312,342
Other undisclosed noncurrent liabilities 9,1951,1522,899   
Total noncurrent liabilities:87,927102,163130,556143,29454,23158,213
Total liabilities:134,908151,727171,222175,22684,37989,528
Equity
Equity, attributable to parent, including:126,615114,602104,306105,43796,86986,931
Common stock33,58632,62031,50130,65229,99529,501
Treasury stock, value(22,545)(20,908)20,538(20,169)(20,169)(19,106)
Accumulated other comprehensive loss(23,413)(26,533)(29,497)(25,235)(22,629)(21,387)
Retained earnings (accumulated deficit)138,986(129,423)122,840120,189109,67197,922
Other undisclosed equity, attributable to parent  258,845(41,076)   
Total equity:126,615114,602104,306105,43796,86986,931
TOTAL LIABILITIES AND EQUITY:261,523266,329275,528280,663181,248176,458

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues279,265246,523240,403251,743234,275204,240
Revenue, net204,240
Cost of revenue
(Cost of Goods and Services Sold)
(220,649)(189,757)(186,745)(189,890)(175,550)(154,189)
Gross profit:58,61656,76653,65861,85358,72550,051
Operating expenses(43,750)(39,319)(43,546)(41,744)(40,866)(32,151)
Other undisclosed operating loss (700) (3,112)(2,651) (5,623)
Operating income:14,16617,4477,00017,45817,85912,277
Nonoperating income (expense) 3,3711,770606933155
Investment income, nonoperating   2,149   
Other nonoperating expense      
Interest and debt expense(2,276)(1,748)(2,745)(1,858)(1,202)(977)
Income from continuing operations before equity method investments, income taxes:11,89119,0716,02616,20617,59011,455
Other undisclosed income (loss) from continuing operations before income taxes2,512     
Income from continuing operations before income taxes:14,40319,0716,02616,20617,59011,455
Income tax expense (benefit) (2,104)(620)(2,940)(3,084)(6,410)
Income from continuing operations:14,40316,9675,40613,26614,5065,045
Income before gain (loss) on sale of properties:16,9675,40613,26614,5065,045
Income from discontinued operations 1,251     
Other undisclosed net loss (3,352)     
Net income:12,30216,9675,40613,26614,5065,045
Other undisclosed net loss attributable to parent (7,618)    
Net income available to common stockholders, diluted:12,3029,3495,40613,26614,5065,045

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:12,30216,9675,40613,26614,5065,045
Other comprehensive income (loss)3,1202,964(4,262)66457855
Comprehensive income:15,42219,9311,14313,93015,0845,101
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (7,618) (3,270)(1,820)1,763
Comprehensive income, net of tax, attributable to parent:15,42212,3131,14310,66013,2646,863

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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