Eastern Q1 FY26 net income drops to $0.6 million; net sales fall 5.7% to $59.7 million

• The Eastern Company posted first-quarter net income of $640,130, or $0.11 a share, down from year-ago profit of $1.9 million, or $0.31 a share.
• Net sales fell 5.7% to $59.7 million, while gross margin narrowed 2.4 percentage points to 20%.
• Adjusted EBITDA from continuing operations slid about 35% to $3 million.
• Backlog rose to $82.2 million from $81.1 million at end of fourth quarter, as management pointed to improved order execution and strengthening order conversion.
• CEO Ryan Schroeder said results were hit by below-plan performance tied to unfavorably priced racks contracts, with most of the impact expected to be behind the company by end of the second quarter.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. The Eastern Company published the original content used to generate this news brief on May 12, 2026, and is solely responsible for the information contained therein.