Strattec Sec Stock Price, News & Analysis

STRATTEC Security (STRT) reported strong financial results for Q2 FY2025. Revenue increased by $11.4 million to $129.9 million, driven by new program launches and increased customer demand. Net income reached $1.3 million, with diluted EPS of $0.32, up from $0.26 year-over-year.

The company generated $9.4 million in cash from operations, bringing year-to-date operating cash flow to $20.8 million. Adjusted EBITDA was $8.0 million (6.1% of sales), compared to $5.0 million (4.3%) in the prior year. The company implemented cost optimization measures, including restructuring U.S. manufacturing operations, expected to generate $1.2 million in annual savings.

As of December 29, 2024, STRATTEC had $42.6 million in cash and cash equivalents, with $13 million in outstanding borrowings and $47 million available under credit lines.

STRATTEC SECURITY (Nasdaq: STRT), a leading provider of smart vehicle power access, security & authorization solutions for the global automotive industry, has scheduled its second quarter fiscal year 2025 financial results announcement. The company will release its results after market close on Thursday, February 6, 2025, followed by a conference call and webcast on Friday, February 7, 2025 at 9:00 a.m. Eastern Time.

The conference call will include a question-and-answer session and can be accessed at (201) 689-8470. A webcast with accompanying slides will be available on investors.strattec.com. A telephonic replay will be accessible until February 21, 2025, by dialing (412) 317-6671 with PIN 13751178. The webcast replay and transcript will be posted on the company's Investor Relations website.

STRATTEC SECURITY (Nasdaq: STRT) announced plans to list its Milwaukee facility for sale as part of its operational modernization strategy. The company will evaluate opportunities for upgraded manufacturing and office spaces in the Milwaukee area. In Q1 2025, STRATTEC will reduce operations from three shifts to two at its Milwaukee location, resulting in approximately 20 direct labor role eliminations. The company will also transition to a 10-hour, 4-day work week from the current 8-hour, 5-day schedule, a change welcomed by the manufacturing team. The facility evaluation process is expected to take several months to complete.

STRATTEC SECURITY (Nasdaq: STRT) has appointed Matthew Pauli as Senior Vice President and Chief Financial Officer, effective November 13, 2024. Pauli succeeds Dennis Bowe, who will continue in an advisory role during the transition. Pauli brings over 20 years of financial management experience, most recently serving as Executive Advisor and CFO of CentroMotion. The appointment aligns with STRATTEC's ongoing transformation, focusing on operational change, data analytics, and information systems. CEO Jennifer Slater emphasized the need for operational financial proficiency to achieve more predictable financial outcomes and drive cash generation.

STRATTEC SECURITY reported financial results for Q1 FY2025, showing revenue growth of 2.7% year-over-year to $139.1 million. The company generated $11.3 million in cash from operations and reduced pre-production costs by $6.9 million. Gross margin was 13.6% compared to 13.8% in the prior year. Net income attributable to STRATTEC was $3.7 million with diluted earnings per share of $0.92. Sales increases were noted in Hyundai/Kia and Ford segments, while Stellantis sales declined due to inventory destocking. The company appointed new chief people and commercial officers as part of its business model restructuring efforts.

STRATTEC SECURITY (Nasdaq: STRT) has appointed Chey Becker-Varto as Chief Commercial Officer and Linda Redmann as Chief People Officer, effective November 11, 2024. Both will report to CEO Jennifer L. Slater. Becker-Varto, previously Chief Commercial Officer at Vayan Group, brings experience in driving revenue growth and implementing sophisticated customer management systems. Redmann, formerly an Executive HR Consultant at Korn Ferry and Bolder HR, brings expertise in human capital strategies and organizational transformation. These appointments are part of STRATTEC's strategy to strengthen its organizational structure and improve business performance.

STRATTEC SECURITY (Nasdaq: STRT), a leading provider of smart vehicle power access and security solutions, has announced its participation in the 48th Annual Gabelli Automotive Symposium in Las Vegas. Jennifer L. Slater, President and CEO, and Dennis P. Bowe, CFO, will present on November 5, 2024, at 8:30 am PT. The presentation will be available via webcast live and replay on the company's investor relations website, along with presentation materials. Management will also host investor meetings during the event.

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.