Highest-materiality recent filing
Key Tronic Q3 FY2026 revenue $89.6M, down 20% YoY; margins improve
Revenue $89.6M vs $112.0M in Q3 FY2025, down 20% due to lower legacy demand and end-of-life program transition.
Key Tronic reports Q2 FY2026 revenue $96.3M, down 15% YoY; China wind-down and Mexico cuts
Revenue $96.3M vs $113.9M YoY, down ~15%; impacted by reduced demand from a longtime customer and program delays.
Key Tronic to cease China manufacturing; $4.8-5.8M non-cash charges; Mexico severance $2.5-3.5M
Ends China manufacturing operations; refocuses on sourcing/procurement; manufacturing moved to Vietnam and other facilities.
Key Tronic Q1 FY2026 revenue drops 25% YoY to $98.8M; net loss $0.21/share
Revenue $98.8M vs $131.6M YoY; net loss $(2.3)M versus net income $1.1M last year.
Key Tronic annual meeting elects all 7 directors, approves say-on-pay, ratifies auditor
All 7 director nominees elected with votes ranging from 4.04M to 5.30M for; Broker non-votes 2.10M.
Key Tronic Q4 revenue $110.5M (down 13% YoY); full year net loss $8.3M vs $2.8M loss
Q4 revenue $110.5M (down 13% YoY); FY2025 revenue $467.9M (down 17% from $566.9M).
Key Tronic sets FY2026 ICP goals: CEO 10-150% payout; grants 89,927 RSUs
FY2026 ICP requires minimum profit goal; three performance levels (entry, expected, overachievement); CEO payout 10%-150% of base salary.
Key Tronic auditor changes from Moss Adams to Baker Tilly after firms merge
Moss Adams merged with Baker Tilly US, LLP effective June 3, 2025; Baker Tilly appointed as new independent auditor.
Key Tronic Q3 FY2025 revenue $112M, down 21% YoY; net loss narrows to $0.6M
Revenue $112.0M vs $142.4M a year ago, down 21% due to tariff disruptions and customer delays.
Key Tronic Q2 FY2025 revenue $113.9M (-23% YoY); net loss $4.9M vs income $1.1M
Revenue $113.9M, down 23% from $147.8M in Q2 FY2024; first-half revenue $245.4M vs $298.0M.
Key Tronic preliminary Q2 revenue ~$114M, net loss $0.40-$0.48 per share, below guidance
Revenue ~$114M, net loss $0.40-$0.48 per share, both below prior guidance.
Key Tronic enters $115M revolver and $28M term loan, refinances prior Bank of America facility
$115M asset-based revolver with BMO, matures Dec 3, 2029; $75M outstanding at close.
All seven director nominees elected with between 5.53M and 5.87M votes for; no significant opposition.
Shareholders approve Key Tronic 2024 Incentive Plan at annual meeting
Shareholders approved the 2024 Incentive Plan on Nov 25, 2024 at the annual meeting.
Key Tronic Q1 FY2025 net income rises to $0.10/share; gross margin improves to 10.1%
Revenue $131.6M vs $150.1M YoY; impacted by ~$9M in customer-driven program delays.
Key Tronic restates Q4 FY2024: net income of $37K becomes net loss of $1.99M
Net sales revised up to $126.6M but cost of sales increased $3.0M, reducing gross profit by $2.2M.
Key Tronic obtains waiver of loan defaults; interest rate up 50bps, availability block raised
Sixth amendment waives defaults for fixed-charge coverage ratio misses in June and July 2024 and late audited financials.
Key Tronic restates FY2022-2023 and quarterly financials; revenue/COGS misclassification found
Audit Committee concludes FY2022, FY2023, and certain quarterly reports for 2022-2024 are no longer reliable due to misallocation of cost recovery.
Extends loan maturity to Dec 3, 2025 via Fifth Amendment with Bank of America
Maturity of Loan Agreement extended from Sept 3, 2025 to Dec 3, 2025.
Key Tronic sets FY2025 ICP targets, LTIP measures, and grants RSUs to executives
ICP for FY2025: CEO Larsen potential payout 10%-150% of base; CFO Voorhees and EVP Hochberg 7%-105%.
Key Tronic assigns directors Beranek and Kulkarni to board committees effective Aug 8, 2024
Cheryl Beranek appointed to Audit, Compensation and Administration, and Governance and Nominating Committees.
Key Tronic Q4 revenue $125.7M (down 23% YoY); EPS $0.00 vs $0.10
Revenue $125.7M, down from $162.6M in Q4 FY2023.
Key Tronic discloses cyber incident cost $2.3M, lost $15M Q4 revenue
Unauthorized third-party access detected May 6, 2024; domestic/Mexico operations halted ~2 weeks.
Key Tronic Q4 FY2024 preliminary revenue ~$125M, net loss ~$0.00; cyber incident cost $2.3M
Cybersecurity incident on May 6 caused $2.3M extra expenses and ~$15M lost revenue, most recoverable in FY2025.
Key Tronic enters consulting agreement with retiring CEO Craig Gates through June 2026
Consulting Agreement with Craig Gates starts June 30, 2024, ends June 30, 2026; pays $10,000 per month.
Key Tronic sets CEO salary $800K, CFO salary $385K in leadership transition
Brett Larsen named CEO effective June 30, 2024 with annual base salary of $800,000.
Key Tronic reports cyber incident: PII exfiltrated, ops halted 2 weeks, material Q4 impact
Detected unauthorized access on May 6, 2024; threat actor exfiltrated limited data including personally identifiable information.
Key Tronic amends credit agreement; loosens covenant but raises cost, shortens maturity
Fixed charge coverage ratio floor reduced to 1.00:1.00 (from 1.25:1) as of March 30, 2024, stepping back to 1.25:1 by March 29, 2025.
Key Tronic detects unauthorized IT access; disruptions to financial and operating systems
Detected unauthorized third-party access to IT systems on May 6, 2024.
Key Tronic reports Q3 net loss $2.2M, revenue $140.5M (-15% YoY); Q4 guidance $0.03-$0.10 EPS
Net loss $2.2M ($0.21/share) vs net income $2.0M ($0.18/share) in Q3 FY23.
Key Tronic preliminary Q3 loss per share ($0.18-0.23) on $140M revenue; Q4 guidance $0.00-0.10 EPS
Preliminary Q3 revenue ~$140M (in line); net loss per share ($0.18)-($0.23) below expectations.
Key Tronic Q2 revenue up 18% to $145.4M; restructures Mexico ops, guides Q3 rev $135-145M
Revenue $145.4M (+18% YoY); net income $1.1M ($0.10 EPS) vs $1.0M ($0.09 EPS) YoY.
Key Tronic CEO Craig Gates to retire June 30, 2024; Brett Larsen named successor
CEO Craig D. Gates retires June 30, 2024 after 15 years; will remain on the Board.
Key Tronic shareholders elect all six director nominees at 2023 annual meeting
All six director nominees elected: James R. Bean, Craig D. Gates, Ronald F. Klawitter, Subodh K. Kulkarni, Yacov A. Shamash, Patrick Sweeney.
Key Tronic Q1 revenue up 8% to $147.8M; EPS drops to $0.03 on $0.6M severance
Revenue $147.8M vs $137.3M YoY (+8%); net income $0.3M ($0.03/sh) vs $1.2M ($0.11/sh).
Key Tronic Q1 preliminary revenue $147.7M; EPS $0.02 misses on severance costs
Revenue ~$147.7M in line; EPS $0.02 below expectations, including $0.6M severance (≈$0.04-0.05/share).
FY2024 incentive plan: CEO potential payout 10%-150% of base salary based on profit goals; minimum profit required.
Key Tronic posts record annual revenue of $588.1M, up 11%; EPS up 53%
Record annual revenue $588.1M, up 11% from $531.8M; net income $5.2M ($0.47 EPS) up 53%.
Key Tronic reports Q3 FY2023 results; specifics not in filing text
Announced quarterly results for period ending April 1, 2023.
Key Tronic reports Q2 FY2023 results; press release referenced but specifics not provided
Press release issued January 31, 2023 for quarter ended December 31, 2022.
Key Tronic issues preliminary Q2 FY2023 results, specifics in attached press release
Press release dated Jan 23, 2023, covers preliminary results for quarter ended Dec 31, 2022.
Key Tronic shareholders elect all six directors, approve Say-on-Pay and auditor ratification
Directors elected: James Bean, Craig Gates, Ronald Klawitter, Subodh Kulkarni, Yacov Shamash, Patrick Sweeney.
Key Tronic Q1 FY2023 revenue up 3% YoY to $137.3M, EPS $0.11; guides Q2 revenue $140-150M
Revenue $137.3M (+3% YoY); net income $1.2M ($0.11 EPS) vs $0.8M ($0.07) YoY.
Key Tronic Q4 revenue $126.2M, EPS $0.09; guides Q1 revenue $125-135M, EPS $0.05-0.10
Q4 revenue $126.2M (down ~5% YoY); full-year revenue $531.8M (up 3% YoY).
Key Tronic raises CEO/CFO salaries, sets FY2023 bonus targets, long-term incentive up to $1.2M
CEO Craig Gates bi-weekly salary increased from $31,306 to $33,810; CFO Brett Larsen from $16,735 to $17,739, effective July 29, 2022.
Key Tronic Q3 revenue up 3% to $138.4M; EPS $0.09; Q4 guidance $125-135M
Revenue $138.4M (+3% YoY); net income $1.0M ($0.09 EPS) vs $0.9M ($0.08) prior year.
Key Tronic Q2 revenue up 5% to $134.5M; EPS drops to $0.05 from $0.14; Q3 guidance $0.05–$0.10
Revenue $134.5M (+5% YoY); gross margin fell to 7.3% from 8.3%; operating margin 1.2% vs 2.1%.
Dismissed BDO USA (auditor since 2003) on Nov 23, 2021; no disagreements on accounting principles or audit scope.
Manufacturing for one of world's leading power equipment companies expected to begin in 2022.
Key Tronic Q1 FY2022 revenue up 8% to $132.8M but EPS drops to $0.07 from $0.16
Net income $0.8M ($0.07 per share) vs $1.7M ($0.16) YoY; impacted by $0.4M legal expenses from internal investigation.
the retirement of Craig D. Gates, President and Chief Executive Officer, effective June 30, 2024.
the Board appointed Brett R. Larsen, the Company’s Executive Vice President of Administration, Chief Financial Officer and Treasurer, to succeed Mr. Gates as the Company’s President and Chief Executive Officer effective upon Mr. Gates’ retirement on June 30, 2024.
The Board also appointed Mr. Larsen as Chief Operating Officer, effective immediately
Craig D. Gates, the President and Chief Executive Officer and member of the Board of Directors (the “Board”) of Key Tronic Corporation (the “Company”), notified the Board of his decision to retire as President and Chief Executive Officer effective June 30, 2024.
the Board appointed Anthony G. Voorhees, the Company’s Vice President of Finance and Controller, to succeed Mr. Larsen as the Company’s Executive Vice President of Administration, Chief Financial Officer and Treasurer effective on June 30, 2024.
Upon Mr. Sweeney’s retirement, Ronald F. Klawitter shall act as Chair of the Board.
the Board appointed Cheryl Beranek as a director of the
Patrick Sweeney, Chair of the Board, notified the Board of his decision to retire and resign as a director of the Board and as a member of the Audit Committee, Compensation and Administration Committee and Governance and Nominating Committee, effective January 4, 2024.
Max materiality 0.85 · Median 0.65 · Most common event earnings