{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-020946","form_type":"8-K","ticker":"STRT","cik":"0000933034","company_name":"STRATTEC SECURITY CORP","filed_at":"2023-04-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.918435+00:00","generated_at":"2026-06-16T11:03:10.151466+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Strattec posts Q3 net loss of $2.3M; sales up 10% to $127.2M but margin slumps","bullets":["Net loss $2.3M ($0.57 diluted loss per share) vs net income $3.1M ($0.80 EPS) a year ago.","Sales rose to $127.2M from $115.9M driven by improved chip availability at GM, Ford, Hyundai/Kia.","Gross margin fell to 7.9% from 12.6% on inflation, Mexico wage hike, FX, and $1.3M warranty provision.","Stellantis sales declined to $21.6M from $23.0M due to plant shutdowns; aftermarket sales also down.","CEO cited ongoing cost pressures but expects benefit from new business launches and efficiency efforts."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-020946","json":"https://secwatch.observer/filing/0001140361-23-020946.json","markdown":"https://secwatch.observer/filing/0001140361-23-020946.md","text":"https://secwatch.observer/filing/0001140361-23-020946.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/933034/000114036123020946/0001140361-23-020946-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/933034/000114036123020946/brhc20052058_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T11:03:10.151466+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"75d57270df7a7ddced24cf352824c11c705fd980","claim":"STRATTEC SECURITY CORP reported fiscal third quarter ended April 2, 2023 results: revenue $127.2 million, net income Net loss was $2.3 million, EPS Diluted loss per share for the current year third quarter was $0.57.","evidence_excerpt":"STRATTEC SECURITY CORPORATION REPORTS FISCAL 2023 THIRD QUARTER OPERATING RESULTS Milwaukee, Wisconsin – April 27, 2023 -- STRATTEC SECURITY CORPORATION (\"STRATTEC\" or the \"Company\") (NASDAQ:STRT) today reported operating results for the fiscal third quarter ended April 2, 2023. Net sales for the third quarter ended April 2, 2023 were $127.2 million, compared to net sales of $115.9 million for the third quarter ended March 27, 2022. Net loss was $2.3 million in the current year third quarter, compared to net income of $3.1 million in the prior year third quarter. Diluted loss per share for the current year third quarter was $0.57 compared to diluted earnings per share of $0.80 in the prior year third quarter.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/933034/000114036123020946/0001140361-23-020946-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fiscal third quarter ended April 2, 2023"},{"label":"Revenue","value":"$127.2 million"},{"label":"Net income","value":"Net loss was $2.3 million"},{"label":"EPS","value":"Diluted loss per share for the current year third quarter was $0.57"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}