---
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"
generated_at: "2026-06-16T11:03:10.151466+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Strattec posts Q3 net loss of $2.3M; sales up 10% to $127.2M but margin slumps

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-020946
- JSON: https://secwatch.observer/filing/0001140361-23-020946.json
- Plain text: https://secwatch.observer/filing/0001140361-23-020946.txt

## Key facts
- Earnings Releases
  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.
  - Period: fiscal third quarter ended April 2, 2023
  - 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
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123020946/0001140361-23-020946-index.htm

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