secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001140361-22-038658
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

STRATTEC reports Q1 FY2023 sales up 20% to $120.4M; EPS flat at $0.03
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- Net sales $120.4M (+20% YoY) driven by improved chip availability; diluted EPS $0.03 unchanged.
- Gross margin fell to 10.4% from 12.5% due to higher material and labor costs.
- Sales to GM $38.2M, Ford $24.6M, Stellantis $17.2M; Hyundai/Kia declined to $8.3M.
- Equity income from VAST LLC JV improved to $527K from a $251K loss.
- Management cites inflationary headwinds, but investing in EV opportunities and maintaining inventory.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000114036122038658/0001140361-22-038658-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000114036122038658/brhc10043317_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-038658

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