EACO Corp Files 10-Q, Reports Q3 Financials
Ticker: EACO · Form: 10-Q · Filed: Jul 15, 2024 · CIK: 784539
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
EACO Corp 10-Q filed. Financials for Q3 ending May 31, 2024, are out.
AI Summary
EACO Corp filed its 10-Q for the period ending May 31, 2024. The filing details financial information for the third quarter and the first nine months of the fiscal year. Key financial statement components like retained earnings, additional paid-in capital, and accumulated other comprehensive income are reported as of various dates, including May 31, 2024, February 29, 2024, November 30, 2023, and August 31, 2023.
Why It Matters
This filing provides investors with an update on EACO Corp's financial health and performance during the third quarter, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-05-31 — Fiscal Period End (The 10-Q covers financial data up to this date.)
- 2024-02-29 — Previous Quarter End (Financial data is compared to this prior period.)
- 2023-11-30 — Prior Year Quarter End (Financial data is compared to this prior year period.)
- 2023-08-31 — Fiscal Year End (The prior fiscal year end for comparison.)
Key Players & Entities
- EACO CORP (company) — Filer of the 10-Q
- 20240531 (date) — End of the reporting period
- 20240715 (date) — Filing date
- 5065 E HUNTER AVE (location) — Business and mailing address
- ANAHEIM, CA 92807 (location) — Business and mailing address city, state, zip
FAQ
What were the key financial statement line items reported in this 10-Q?
The filing reports on us-gaap:RetainedEarningsMember, us-gaap:AdditionalPaidInCapitalMember, and us-gaap:AccumulatedOtherComprehensiveIncomeMember as of various dates.
What is EACO Corp's primary business classification?
EACO Corp is classified under STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065].
When is EACO Corp's fiscal year end?
EACO Corp's fiscal year ends on 0831.
What is the company's business address?
The business address is 5065 E HUNTER AVE, ANAHEIM, CA 92807.
What was the previous name of EACO Corp?
The former company name was FAMILY STEAK HOUSES OF FLORIDA INC, with a name change date of 19920703.
Filing Stats: 4,629 words · 19 min read · ~15 pages · Grade level 14.8 · Accepted 2024-07-15 15:08:57
Key Financial Figures
- $0.01 — Section 12(g) of the Act: Common Stock, $0.01 Par Value (Title of Class) Indicate
Filing Documents
- eaco-20240531x10q.htm (10-Q) — 1022KB
- eaco-20240531xex31d1.htm (EX-31.1) — 13KB
- eaco-20240531xex32d1.htm (EX-32.1) — 6KB
- 0001410578-24-001078.txt ( ) — 3830KB
- eaco-20240531.xsd (EX-101.SCH) — 25KB
- eaco-20240531_cal.xml (EX-101.CAL) — 42KB
- eaco-20240531_def.xml (EX-101.DEF) — 68KB
- eaco-20240531_lab.xml (EX-101.LAB) — 224KB
- eaco-20240531_pre.xml (EX-101.PRE) — 177KB
- eaco-20240531x10q_htm.xml (XML) — 420KB
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 Nine Months Ended May 31, May 31, 2024 2023 2024 2023 Net sales $ 96,121 $ 80,249 $ 259,711 $ 233,493 Cost of sales 68,193 57,008 183,184 166,325 Gross margin 27,928 23,241 76,527 67,168 Operating expenses: Selling, general and administrative expenses 26,314 16,277 61,129 47,568 Impairment on termination of lease – – 3,906 – Income from operations 1,614 6,964 11,492 19,600 Other income (expense): Net (loss) gain on trading securities ( 24 ) 163 ( 45 ) 784 Interest and other (expense) ( 44 ) ( 36 ) ( 128 ) ( 38 ) Other (expense) income, net ( 68 ) 127 ( 173 ) 746 Income before income taxes 1,546 7,091 11,319 20,346 Provision for income taxes 362 1,772 2,858 5,216 Net income 1,184 5,319 8,461 15,130 Cumulative preferred stock dividend ( 19 ) ( 19 ) ( 57 ) ( 57 ) Net income attributable to common shareholders $ 1,165 $ 5,300 $ 8,404 $ 15,073 Basic earnings per share: $ 0.24 $ 1.09 $ 1.73 $ 3.10 Diluted earnings per share: $ 0.24 $ 1.09 $ 1.73 $ 3.09 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 Nine Months Ended May 31, May 31, 2024 2023 2024 2023 Net income $ 1,184 $ 5,319 $ 8,461 $ 15,130 Other comprehensive gain (loss), net of tax: Foreign translation gain (loss) 18 ( 50 ) ( 68 ) ( 135 ) Total compr