Key Tronic preliminary Q3 loss per share ($0.18-0.23) on $140M revenue; Q4 guidance $0.00-0.10 EPS

KEY TRONIC CORP

2023-Q3 EPS reported -$0.07 revenue$433,707,000

Preliminary Q3 revenue ~$140M (in line); net loss per share ($0.18)-($0.23) below expectations.
Severance costs of $3.7M ($0.27/diluted share) from reducing workforce by 450+ in Mexico; expects >$10M annual savings.
Severe winter weather in MS and AR knocked out ~2 weeks production, losing ~$1M contribution margin ($0.07/share).
Mexican Peso strengthening ~5% added ~$1.5M expense ($0.11/share).
Q4 FY2024 guidance: revenue $135M-$145M, EPS $0.00-$0.10; final Q3 results due May 7, 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

KEY TRONIC CORP reported three months ended March 30, 2024 results: revenue approximately $140 million, EPS ($0.18) to ($0.23) per share.

Period: three months ended March 30, 2024
Revenue: approximately $140 million
EPS: ($0.18) to ($0.23) per share
Result: preliminary results

Exact text from the filing

today announced its preliminary results for the three months ended March 30, 2024. For the third quarter of fiscal 2024, Key Tronic expects to report revenue of approximately $140 million, in line with revenue expectations, and a net loss of approximately ($0.18) to ($0.23) per share, which is below expectations. The lower than expected earnings are primarily a

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Source: SEC EDGAR

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