{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-049692","form_type":"8-K","ticker":"STRT","cik":"0000933034","company_name":"STRATTEC SECURITY CORP","filed_at":"2023-10-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.453305+00:00","generated_at":"2026-06-09T09:31:13.249644+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"STRATTEC Q1 FY2024 sales up 12.5% to $135.4M; EPS $1.05 vs $0.03","bullets":["Net sales $135.4M (Q1 ended Oct 1, 2023), up 12.5% from $120.4M; net income $4.2M vs $125k.","Gross margin improved to 13.8% from 10.4%; $10.8M in pricing relief, including $8M one-time retroactive.","Sales increases from Stellantis minivan and Ford Super Duty new power end gate content; Tier 1 customers also higher.","CEO Frank Krejci: UAW strike escalated in Oct affecting high-volume trucks/SUVs; earnings to be negatively impacted until resolved.","Exited VAST LLC joint venture (sold 1/3 interest for $18.5M), gained full ownership of STRATTEC Power Access Group."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-049692","json":"https://secwatch.observer/filing/0001140361-23-049692.json","markdown":"https://secwatch.observer/filing/0001140361-23-049692.md","text":"https://secwatch.observer/filing/0001140361-23-049692.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/933034/000114036123049692/0001140361-23-049692-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/933034/000114036123049692/ef20013191_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T09:31:13.249644+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":"f377364370c5036fb8ea52c582c407ee4e08ff34","claim":"STRATTEC SECURITY CORP reported the fiscal first quarter ended October 1, 2023 results: revenue $135.4 million, net income $4.2 million, EPS $1.05.","evidence_excerpt":"STRATTEC SECURITY CORPORATION (“STRATTEC” or the “Company”) (NASDAQ:STRT) today reported operating results for the fiscal first quarter ended October 1, 2023. Net sales for the first quarter ended October 1, 2023 were $135.4 million, compared to net sales of $120.4 million for the first quarter ended October 2, 2022. Net income was $4.2 million in the current year first quarter, compared to net income of $125,000 in the prior year first quarter. Diluted earnings per share for the current year quarter were $1.05 and for the prior year first quarter were $0.03.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/933034/000114036123049692/0001140361-23-049692-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal first quarter ended October 1, 2023"},{"label":"Revenue","value":"$135.4 million"},{"label":"Net income","value":"$4.2 million"},{"label":"EPS","value":"$1.05"},{"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"}