Strattec Sec Stock Price, News & Analysis

STRATTEC SECURITY (Nasdaq: STRT), a leading provider of smart vehicle power access, security & authorization solutions for the global automotive industry, has announced its upcoming first quarter fiscal year 2025 financial results conference call and webcast. The company will release its results for the period ended September 29, 2024, after the close of financial markets on Monday, November 4, 2024.

The conference call and webcast are scheduled for 4:45 p.m. Eastern Time on the same day. Investors can access the call by dialing (201) 689-8470. A webcast and accompanying slide presentation will be available on the company's investor relations website at investors.strattec.com. A telephonic replay will be accessible until November 18, 2024, by dialing (412) 317-6671 and entering replay PIN 13749209.

STRATTEC SECURITY (Nasdaq: STRT), a leading provider of smart vehicle power access and electronic security solutions for the global automotive industry, has announced its participation in the Sidoti Small Cap Virtual Conference on September 18, 2024. Jennifer L. Slater, President and CEO, and Dennis P. Bowe, CFO, will present at 10:00 a.m. Eastern Time and host investor meetings.

The presentation will be accessible via live audio webcast with accompanying slides at investors.strattec.com. An archive of the presentation will also be available at the same link following the conference, providing investors with an opportunity to gain insights into STRATTEC's operations and future plans.

STRATTEC SECURITY (NASDAQ:STRT) reported strong financial results for Q4 and full-year fiscal 2024. Q4 highlights include:

- Diluted EPS of $2.39 vs $0.69 loss last year
- Gross margins expanded to 13.0% from 9.3%
- Revenue increased 8.2% to $143.1 million
- Net income of $9.6 million vs $2.7 million loss

Full-year results showed significant improvement:
- Revenue up 9.1% to $537.8 million
- Net income of $16.3 million vs $6.7 million loss
- Diluted EPS of $4.07 vs $1.70 loss

Growth was driven by customer price increases, new product sales, and improved operational efficiency. The company ended the quarter with $25.4 million in cash and $13.0 million in debt.

The Board of Directors of STRATTEC SECURITY (NASDAQ:STRT) has appointed Jennifer L. Slater as President and CEO, effective July 1, 2024. Slater, a seasoned executive from Sensata Technologies, Inc., brings over 25 years of experience in leadership roles across various sectors, including engineering, finance, and strategy. Her notable achievements include transforming Sensata's Performance Sensing business and driving a $3.3 billion battery business at Clarios. Board Chair F. Jack Liebau Jr. praised Slater's extensive automotive industry experience and commitment to growth and shareholder value. The Board thanked interim CEO Rolando Guilott for his service. Slater expressed enthusiasm for leading STRATTEC, emphasizing her focus on growth in the automotive products industry.

STRATTEC SECURITY reported an improvement in earnings per share for the third fiscal quarter of 2024, with $0.37 compared to a $0.57 loss last year. This positive result was driven by customer pricing increases and higher sales. The company's gross margins expanded to 10.4% from 7.9% last year, with revenues increasing by 10.7% due to pricing increases and new product sales. Despite challenges like labor costs and currency exchange effects, STRATTEC remains focused on optimizing operations and maintaining a strong balance sheet.