secwatch.observer — SEC 8-K summary
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Issuer:     STRATTEC SECURITY CORP (STRT)
CIK:        0000933034
Form:       8-K
Filed at:   2023-02-02T23:59:59+00:00
Accession:  0001140361-23-004166
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/933034/000114036123004166/0001140361-23-004166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/933034/000114036123004166/brhc10047421_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-004166

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