secwatch.observer — SEC 8-K summary
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Issuer:     KEY TRONIC CORP (KTCC)
CIK:        0000719733
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0000719733-24-000013
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719733/000071973324000013/0000719733-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719733/000071973324000013/ktcc-20240425.htm
  HTML page:      https://secwatch.observer/filing/0000719733-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer