ACCESS Newswire·Nov 10, 2026, 4:30 PM ET

The Eastern Company Reports Third Quarter 2026 Results

Eastern Company reported third-quarter 2026 net sales of $75.0 million, a 36% year-over-year increase & 21% sequential increase.
Net income from continuing operations rose to $3.4 million ($0.57 per diluted share) from $0.6 million ($0.10 per diluted share) in the prior-year quarter.
Operating profit more than tripled to $5.6 million, representing 7.4% of net sales compared to 3.1% in the prior year.
Gross margin expanded to 23.9% from 22.3% in the prior-year quarter, driven by higher shipments of truck mirror assemblies, returnable transport packaging, & latch assemblies.
Sungear & Crown Precision contributed their first full quarter of revenue, adding $5.4 million from aerospace & defense markets.
Adjusted EBITDA from continuing operations more than doubled to $7.6 million from $3.5 million in the prior-year quarter.
The company repaid $2 million of debt during the quarter, leaving $61 million of revolver availability at quarter end.
Backlog increased 70% year-over-year to $126.1 million, providing visibility through late 2026 & into 2027.
Selling & administrative expenses increased by $1.6 million (16.9%) in the quarter, primarily due to higher incentive compensation costs.
Net income for the first nine months of 2026 was $9.7 million, which included a $6.5 million non-cash bargain purchase gain from the Sungear & Crown Precision acquisition.
The company maintained its dividend of $0.11 per share & preserved ample liquidity despite higher working capital requirements.