Key Tronic reports Q3 net loss $2.2M, revenue $140.5M (-15% YoY); Q4 guidance $0.03-$0.10 EPS

KEY TRONIC CORP

2023-Q3 EPS reported -$0.07 revenue$433,707,000

Net loss $2.2M ($0.21/share) vs net income $2.0M ($0.18/share) in Q3 FY23.
Revenue $140.5M, down from $164.6M YoY; weather and demand softening cited.
Severance costs $3.7M from cutting 450+ jobs in Mexico; expects >$10M annual savings.
Gross margin fell to 5.8% from 8.7%; operating margin negative 0.4% vs positive 3.1%.
Credit facility amended to cure covenant breach; interest rate +100bps, maturity Sept 2025.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KEY TRONIC CORP reported third quarter of fiscal year 2024 results: revenue $140.5 million, net income $(2.2) million or $(0.21) per share, EPS $(0.21) per share. Guidance reaffirmed.

Period: third quarter of fiscal year 2024
Revenue: $140.5 million
Net income: $(2.2) million or $(0.21) per share
EPS: $(0.21) per share
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

manufacturing services (EMS), today announced its results for the quarter ended March 30, 2024. For the third quarter of fiscal year 2024, Key Tronic reported total revenue of $140.5 million, compared to $164.6 million in the same period of fiscal year 2023. As previously announced, revenue for the third quarter of fiscal year 2024 was constrained by approximately $5

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KEY TRONIC CORP reported first nine months of fiscal year 2024 results: revenue $433.7 million, net income $(0.8) million or $(0.07) per share, EPS $(0.07) per share.

Period: first nine months of fiscal year 2024
Revenue: $433.7 million
Net income: $(0.8) million or $(0.07) per share
EPS: $(0.07) per share
Result: preliminary results

Exact text from the filing

For the first nine months of fiscal year 2024, total revenue was $433.7 million, compared to $425.5 million in the same period of fiscal year 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KEY TRONIC CORP reported fourth quarter of fiscal 2024 results: revenue $135 million to $145 million, EPS $0.03 to $0.10 per diluted share. Guidance initiated.

Period: fourth quarter of fiscal 2024
Revenue: $135 million to $145 million
EPS: $0.03 to $0.10 per diluted share
Guidance: initiated
Result: guidance update

Exact text from the filing

For the fourth quarter of fiscal 2024, Key Tronic expects to report revenue in the range of $135 million to $145 million and earnings in the range $0.03 to $0.10 per diluted share.

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Source: SEC EDGAR

accession 0001628280-24-021103

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