---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-004166"
form_type: "8-K"
ticker: "STRT"
cik: "0000933034"
company_name: "STRATTEC SECURITY CORP"
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T03:13:59.177054+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# STRATTEC Q2 net loss of $1.8M vs income $3.4M YoY; gross margin halves to 6.5%

## Summary
- Net sales $113.2M, flat YoY ($112.9M); diluted EPS -$0.47 vs +$0.87.
- Gross profit margin fell to 6.5% from 13.2% on higher raw material, labor & shipping costs.
- Sales to Stellantis dropped $6.1M to $17.0M on plant shutdowns; GM rose $4.4M to $35.5M.
- Hyundai/Kia sales surged to $9.3M from $5.9M on Kia Carnival production.
- CEO cites inflationary pressures; pursuing price increases and EV opportunities.

## SEC filing metadata
- accession: 0001140361-23-004166
- form_type: 8-K
- ticker: STRT
- cik: 0000933034
- company_name: STRATTEC SECURITY CORP
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/933034/000114036123004166/0001140361-23-004166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/933034/000114036123004166/brhc10047421_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-004166
- JSON: https://secwatch.observer/filing/0001140361-23-004166.json
- Plain text: https://secwatch.observer/filing/0001140361-23-004166.txt

## Key facts
- Earnings Releases
  STRATTEC SECURITY CORP reported the fiscal second quarter ended January 1, 2023 results: revenue $113.2 million, net income Net loss was $1.8 million, EPS $0.47.
  - Period: the fiscal second quarter ended January 1, 2023
  - Revenue: $113.2 million
  - Net income: Net loss was $1.8 million
  - EPS: $0.47
  - Result: reported results
  source text: Net sales for the second quarter ended January 1, 2023 were $113.2 million, compared to net sales of $112.9 million for the second quarter ended December 26, 2021. Net loss was $1.8 million in the current year second quarter, compared to net income of $3.4 million in the prior year second quarter. Diluted loss per share for the current year second quarter was $0.47 compared to diluted earnings per share of $0.87 in the prior year second quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123004166/0001140361-23-004166-index.htm
- Earnings Releases
  STRATTEC SECURITY CORP reported the six months ended January 1, 2023 results: revenue $233.5 million, net income Net loss during the current year six-month period was $1.7 million, EPS $0.44.
  - Period: the six months ended January 1, 2023
  - Revenue: $233.5 million
  - Net income: Net loss during the current year six-month period was $1.7 million
  - EPS: $0.44
  - Result: reported results
  source text: For the six months ended January 1, 2023, the Company’s net sales were $233.5 million compared to net sales of $213.2 million in the prior year six-month period. Net loss during the current year six-month period was $1.7 million compared to a net income of $3.5 million during the prior year six-month period. Diluted loss per share was $0.44 during the six-month period ended January 1, 2023 compared to diluted earnings per share of $0.89 during the six-month period ended December 26, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123004166/0001140361-23-004166-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.