---
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"
generated_at: "2026-06-09T09:31:13.249644+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# STRATTEC Q1 FY2024 sales up 12.5% to $135.4M; EPS $1.05 vs $0.03

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- 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/933034/000114036123049692/0001140361-23-049692-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/933034/000114036123049692/ef20013191_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-049692
- JSON: https://secwatch.observer/filing/0001140361-23-049692.json
- Plain text: https://secwatch.observer/filing/0001140361-23-049692.txt

## Key facts
- Earnings Releases
  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.
  - Period: the fiscal first quarter ended October 1, 2023
  - Revenue: $135.4 million
  - Net income: $4.2 million
  - EPS: $1.05
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/933034/000114036123049692/0001140361-23-049692-index.htm

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