STRATTEC reports Q3 EPS $0.37 vs -$0.57 loss; revenue up 10.7%

STRATTEC SECURITY CORP

2024-Q3 EPS reported $1.67 revenue$394,711,000

Diluted EPS $0.37 vs loss of $0.57 last year; net income $1.5M vs loss $2.3M.
Revenue $140.8M (+10.7% YoY) driven by $7.0M pricing increases and $6.6M new product sales.
Gross margin improved to 10.4% from 7.9%, helped by pricing and lower raw material costs, offset by FX and wage headwinds.
Operating cash flow negative $309K vs negative $1.2M; CapEx $1.7M vs $4.2M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STRATTEC SECURITY CORP reported Third Quarter ended March 31, 2024 results: revenue $140,773 thousand, net income $1,506 thousand, EPS $0.37.

Period: Third Quarter ended March 31, 2024
Revenue: $140,773 thousand
Net income: $1,506 thousand
EPS: $0.37
Result: reported results

Exact text from the filing

Third Quarter Fiscal 2024 Financial Summary Third Quarter Ending Mar 31, 2024 Apr. 2, 2023 Inc (Dec) (Dollars in thousands, except per share data) Net Sales $ 140,773 $ 127,183 $ 13,590 Gross Profit $ 14,684 $ 10,001 $ 4,683 Gross Margin 10.4% 7.9% Operating Expenses $ 12,725 $ 12,485 $ 240 Operating Income (Loss) from Operations $ 1,959 $ (2,484) $ 4,443 Net Income (Loss) $ 1,506 $ (2,256) $ 3,762 Diluted Earnings (Loss) Per Share $ 0.37 $ (0.57) $ 0.94

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Source: SEC EDGAR

accession 0000950170-24-057407

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