STRT News & Events

Strattec announced that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $40M of its outstanding common stock. Jennifer Slater, President and CEO of Strattec, stated, "Our strong cash position allows us to continue investing in our transformation and growth strategy while also returning capital to shareholders through this new repurchase authorization. We are confident in our ability to generate strong cash flow to support these priorities while maintaining the financial flexibility needed to navigate the highly cyclical automotive industry in which we operate."

Reports Q3 revenue $137.6M, two estimates $140.35M. Jennifer Slater, President and CEO of Strattec, said, "We are continuing to progress on our strategy to transform Strattec into a more predictable, higher performing business even as we continually face the challenges of the automotive industry including weak end market demand, platform changes, tariffs and the long-cycle nature of the sector. Our near-term objectives remain focused on improving our cost structure and driving a stronger more predictable business while positioning ourselves to win new opportunities on future platforms for model years 2029 and beyond and developing deeper relationships with both current and prospective customers."