EACO Corp Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>EACO Corp has filed its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

EACO CORP (EACO) filed a Quarterly Report (10-Q) with the SEC on April 9, 2024. EACO Corp filed a 10-Q for the period ending February 29, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on August 31st. EACO Corp was formerly known as Family Steak Houses of Florida Inc. The company's business address is 5065 E Hunter Ave, Anaheim, CA 92807.

Why It Matters

For investors and stakeholders tracking EACO CORP, this filing contains several important signals. This filing provides investors with an update on EACO Corp's financial performance and position for the second quarter of fiscal year 2024. Understanding the details within this 10-Q is crucial for assessing the company's operational status, financial health, and any potential risks or opportunities.

Risk Assessment

Risk Level: low — EACO CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial disclosures or events that would suggest a high-risk profile based solely on the header information.

Analyst Insight

Review the full 10-Q filing to understand the company's financial performance, operational updates, and any disclosed risks or forward-looking statements.

Key Numbers

• 2024-02-29 — Reporting Period End Date (10-Q filing)
• 2024-04-09 — Filing Date (10-Q filing)
• 08-31 — Fiscal Year End (Company data)
• 1992-07-03 — Date of Name Change (Company data)

Key Players & Entities

• EACO CORP (company) — Filer name
• 0000784539 (company) — Central Index Key
• FAMILY STEAK HOUSES OF FLORIDA INC (company) — Former company name
• 5065 E HUNTER AVE (company) — Business address street
• ANAHEIM (company) — Business address city
• CA (company) — Business address state
• 92807 (company) — Business address zip
• 714-876-2490 (company) — Business phone

FAQ

Industry Context

EACO Corp operates in the wholesale of electronic parts and equipment sector, classified under SIC code 5065.

Regulatory Implications

The filing is a Form 10-Q, which is a mandatory quarterly report filed by public companies with the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, assets, and liabilities.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into the company's operational performance and outlook.
3. Review any disclosed risk factors or legal proceedings that could impact the company.

Key Dates

• 2024-02-29: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-04-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial header information for the 10-Q filing for the period ending February 29, 2024. Comparative data from the previous filing is not available in this header.

Key Financial Figures

• $0.01 — Section 12(g) of the Act: Common Stock, $0.01 Par Value (Title of Class) Indicate

Filing Documents

• eaco-20240229x10q.htm (10-Q) — 974KB
• eaco-20240229xex31d1.htm (EX-31.1) — 12KB
• eaco-20240229xex32d1.htm (EX-32.1) — 5KB
• 0001410578-24-000441.txt (&nbsp;) — 3696KB
• eaco-20240229.xsd (EX-101.SCH) — 24KB
• eaco-20240229_cal.xml (EX-101.CAL) — 41KB
• eaco-20240229_def.xml (EX-101.DEF) — 68KB
• eaco-20240229_lab.xml (EX-101.LAB) — 222KB
• eaco-20240229_pre.xml (EX-101.PRE) — 175KB
• eaco-20240229x10q_htm.xml (XML) — 409KB

Financial Statements

Item 1. Financial Statements EACO Corporation and Subsidiaries Condensed Consolidated Statements of Income (in thousands, except for share and per share information) (Unaudited) Three Months Ended Six Months Ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Net sales $ 83,335 $ 76,925 $ 163,590 $ 153,244 Cost of sales 58,308 54,661 114,991 109,317 Gross margin 25,027 22,264 48,599 43,927 Operating expenses: Selling, general and administrative expenses 17,598 15,606 34,815 31,291 Impairment on termination of lease — — 3,906 — Income from operations 7,429 6,658 9,878 12,636 Other income (expense): Net gain (loss) on trading securities 23 179 ( 21 ) 621 Interest and other income (expense) ( 75 ) 46 ( 84 ) ( 2 ) Other income (expense), net ( 52 ) 225 ( 105 ) 619 Income before income taxes 7,377 6,883 9,773 13,255 Provision for income taxes 1,879 1,783 2,496 3,444 Net income 5,498 5,100 7,277 9,811 Cumulative preferred stock dividend ( 19 ) ( 19 ) ( 38 ) ( 38 ) Net income attributable to common shareholders $ 5,479 $ 5,081 $ 7,239 $ 9,773 Basic and diluted earnings per share: $ 1.13 $ 1.05 $ 1.49 $ 2.01 Diluted earnings per share: $ 1.12 $ 1.04 $ 1.48 $ 2.00 Basic weighted average common shares outstanding 4,861,590 4,861,590 4,861,590 4,861,590 Diluted weighted average common shares outstanding 4,901,590 4,901,590 4,901,590 4,901,590 See accompanying notes to unaudited condensed consolidated financial statements. 2 EACO Corporation and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (in thousands) (Unaudited) Three Months Ended Six Months Ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Net income $ 5,498 $ 5,100 $ 7,277 $ 9,811 Other comprehensive gain (loss), n

View Full Filing

View this 10-Q filing on SEC EDGAR