{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-006393","form_type":"8-K","ticker":"STRT","cik":"0000933034","company_name":"STRATTEC SECURITY CORP","filed_at":"2024-02-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.343077+00:00","generated_at":"2026-06-06T06:16:08.423089+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"STRATTEC reports Q2 fiscal 2024 EPS of $0.26 vs loss of $0.47; revenue up 4.7%","bullets":["Diluted EPS $0.26 compared to a loss of $0.47 in prior-year quarter; net income of $1.0M vs loss $1.8M.","Revenue $118.5M, +4.7% YoY, driven by $8.0M of customer pricing increases partially offset by $2.7M lower sales to a major customer and UAW strike effects.","Gross margin expanded to 11.4% from 6.5% due to pricing, lower raw material costs, and $780K Mexican operations efficiencies; offset by $2.5M FX headwinds and $1.3M Mexico minimum wage increase.","Operating cash flow negative $3.0M vs positive $4.0M last year, due to temporary working capital increases in inventory, customer tooling, and VAT recoverable.","Board changes: F. Jack Liebau appointed Chairman, Harold Stratton II Vice Chairman, effective January 5, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-006393","json":"https://secwatch.observer/filing/0001140361-24-006393.json","markdown":"https://secwatch.observer/filing/0001140361-24-006393.md","text":"https://secwatch.observer/filing/0001140361-24-006393.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/933034/000114036124006393/0001140361-24-006393-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/933034/000114036124006393/ef20020613_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T06:16:08.423089+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":"b11976759f0d85189131f455de831071d8f086da","claim":"STRATTEC SECURITY CORP reported Second Quarter Ending Dec. 31, 2023 results: revenue Net Sales $ 118,532 $ 113,184 $ 5,348, net income Net Income $ 1,022 $ (1,839 ) $ 2,861, EPS Diluted Earnings Per Share $ 0.26 $ (0.47 ) $ 0.73.","evidence_excerpt":"Second Quarter Fiscal 2024 Financial Summary Second Quarter Ending Dec. 31, 2023 Jan. 1, 2023 Inc (Dec) (Dollars in thousands, except per share data) Net Sales $ 118,532 $ 113,184 $ 5,348 Gross Profit $ 13,497 $ 7,387 $ 6,110 Gross Margin 11.4 % 6.5 % Operating Expenses $ 13,439 $ 12,081 $ 1,358 Operating Income $ 58 $ (4,694 ) $ 4,752 Net Income $ 1,022 $ (1,839 ) $ 2,861 Diluted Earnings Per Share $ 0.26 $ (0.47 ) $ 0.73","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/933034/000114036124006393/0001140361-24-006393-index.htm","confidence":0.99,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Second Quarter Ending Dec. 31, 2023"},{"label":"Revenue","value":"Net Sales $ 118,532 $ 113,184 $ 5,348"},{"label":"Net income","value":"Net Income $ 1,022 $ (1,839 ) $ 2,861"},{"label":"EPS","value":"Diluted Earnings Per Share $ 0.26 $ (0.47 ) $ 0.73"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"e08aa0856c47fc68606a9878b8df8244997f667e","claim":"STRATTEC SECURITY CORP reported fiscal second quarter ended December 31, 2023 results: revenue Net Sales $118,532, net income Net Income $1,022, EPS $0.26.","evidence_excerpt":"our customers.” Second Quarter Fiscal 2024 Financial Summary Second Quarter Ending Dec. 31, 2023 Jan. 1, 2023 Inc (Dec) (Dollars in thousands, except per share data) Net Sales $ 118,532 $ 113,184 $ 5,348 Gross Profit $ 13,497 $ 7,387 $ 6,110 Gross Margin 11.4 % 6.5 % Operating Expenses $ 13,439 $ 12,081 $ 1,358 Operating Income $ 58 $ (4,694 ) $ 4,752 Net Income","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/933034/000114036124006393/0001140361-24-006393-index.htm","confidence":0.98,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fiscal second quarter ended December 31, 2023"},{"label":"Revenue","value":"Net Sales $118,532"},{"label":"Net income","value":"Net Income $1,022"},{"label":"EPS","value":"$0.26"},{"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"}