Yahoo Finance The Eastern Company (NASDAQ:EML) Q4 2023 Earnings Call Transcript
The Eastern Company (NASDAQ:EML) Q4 2023 Earnings Call Transcript March 13, 2024
The Eastern Company isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Greetings. And welcome to The Eastern Company’s Fourth Quarter Fiscal Year 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode and a question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Mr. Ernie Hawkins. Sir, you may begin.
Ernie Hawkins: Thank you. Good morning. And thank you everyone for joining us this morning for a review of Eastern’s results for the fourth quarter and full year of 2023. With me on the call are Eastern’s President and CEO, Mark Hernandez; and Eastern’s CFO, Nicholas Vlahos. We issued an earnings press release yesterday after the market closed. If anyone has not yet seen the release, please visit the Investors section of the company’s website, www.easterncompany.com, where you will find the release under Financial News. Please note that some of the information you will hear during today’s call will consist of forward-looking statements about the company’s future financial performance and business prospects, including without limitation, statements regarding revenue, gross margin, operating expenses, other income and expenses, taxes and business outlook.
These forward-looking statements are subject to risks and uncertainties that could cause actual results or trends to differ significantly from those projected in these forward-looking statements. We undertake no obligation to review or update any forward-looking statements to reflect events or circumstances that occur after the call. For more information regarding these risks and uncertainties, please refer to risk factors discussed in our SEC filings including Form 10-K filed with the SEC on March 12, 2024, for the fiscal year 2023. In addition, during today’s call, we will discuss non-GAAP financial measures that we believe are useful as supplemental measures of Eastern’s performance. These non-GAAP measures should be considered, in addition to and not as a substitute for or an isolation from GAAP results.
A reconciliation of each of the non-GAAP measures discussed during today’s call to the most directly comparable GAAP measure can be found in the earnings press release. With that introduction, I will turn the call over to Mark.
Mark Hernandez: Thank you, Ernie. Good morning to those who joined us by phone and those participating via the web. It's an absolute pleasure to be speaking with you today after a year of realignment and continuous improvement during which we focused on our core operations for long-term growth and shareholder value creation. As you know, since I became CEO in January 2023, we've been following four fundamental strategies; disciplined operations, effective capital utilization, focused commercial business and value adding acquisitions. To those four pillars, we recently added a key overlying component we call One Eastern to help us capture the many synergies that exist between our three business operations. During 2023, our determined application of Eastern strategies produced increasingly strong results as 2023 progressed.
See also 13 Most Undervalued EV Stocks To Buy According To Analysts and 13 Most Undervalued Blue Chip Stocks To Buy According To Analysts.
To continue reading the Q&A session, please click here.
