STRT News & Events

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."

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."