STRT News & Events

Reports Q2 revenue $137.5M, two estimates $132.29M. Jennifer Slater, President and CEO of Strattec, said, "We delivered a solid second quarter despite market and supply chain headwinds and unfavorable foreign exchange trends. A focus on pricing and cost reductions protected our gross margin. That focus continued during the quarter as we offered a voluntary early retirement program and implemented additional restructuring actions in our operations in Mexico. We expect $3.4 million in annual savings from these actions. We continue to generate strong cash flow even as we are investing to improve our business."

Reports Q1 revenue $152.4M, two estimates $144.87M. Jennifer Slater, President and CEO of Strattec, said, "Our first quarter results demonstrate the hard work of the team over this last year to streamline our operations, simplify the organization and improve our profitability. We continue to manage our cost structure to be responsive to changing sales levels and have started various automation projects to further enhance our gross margins. At the end of the quarter, we implemented an additional restructuring action in our Mexico operations which is expected to deliver $1 million in annualized savings."

Reports Q4 revenue $152.013M vs $143.055M last year. Jennifer Slater, President and CEO of Strattec, said, "Fiscal 2025 has been a year of significant change and advancement for Strattec. We delivered measurably improved results with stronger margins and cash flow. We executed over $8 million in new annualized pricing, restructured our operations to take out $5 million in costs and drove significant improvement in our working capital velocity and cash flow focus. We also initiated actions to mitigate the impact of incremental tariffs, which are now estimated to be a $5 million to $7 million increase in costs prior to mitigation efforts. This first year as CEO of Strattec has been very busy and challenging, but the advancements we are making are the result of the dedication and contribution of every member of the team. While still early in our business transformation, I am encouraged by the progress we have made over the last twelve months."