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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): May 8, 2025

STRATTEC SECURITY CORPORATION

(Exact Name of Registrant as Specified in Charter)

Wisconsin

0-25150

39-1804239

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

 

3333 West Good Hope Road, Milwaukee, Wisconsin 53209

(Address of Principal Executive Offices, and Zip Code)

(414) 247-3333

Registrant’s Telephone Number, Including Area Code

 

 

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading Symbol

 

Name of each exchange on which registered

Common Stock, $.01 par value

 

STRT

 

The Nasdaq Global Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Section 2 – Financial Information

 

Item 2.02. Results of Operations and Financial Condition.

 

On May 8, 2025, STRATTEC SECURITY CORPORATION (the “Company”) issued a press release (the “Press Release”) announcing results for the fiscal third quarter ended March 30, 2024. A copy of the Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

Also on May 8, 2025, the Company first provided investors with a supplemental presentation regarding fiscal third quarter earnings and other current financial information, attached as Exhibit 99.2 hereto and incorporated by reference herein (the “Investor Presentation”).

 

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 2.02 and Exhibits 99.1 and 99.2 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section. Furthermore, the information in this Item 2.02 and Exhibits 99.1 and 99.2 shall not be deemed to be incorporated by reference into the filings of STRATTEC under the Securities Act of 1933, as amended (the “Securities Act”), except as may be expressly set forth by specific reference in such filing.

 

Item 7.01 Regulation FD Disclosure.

 

As described in “Item 2.02 Results of Operations and Financial Condition” above, on May 8, 2025, the Company issued a Press Release announcing earnings results for the fiscal third quarter ended March 30, 2024 and an Investor Presentation containing supplemental fiscal first quarter earnings and other current financial information. The Press Release and Investor Presentation issued in connection with the announcement are attached as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K.

 

Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 7.01 and Exhibits 99.1 and 99.2 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section. Furthermore, the information in this Item 7.01 and Exhibits 99.1 and 99.2 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act, except as may be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number

Description

99.1

Press Release of STRATTEC SECURITY CORPORATION, issued May 8, 2025

99.2

Investor Presentation

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 


SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

STRATTEC SECURITY CORPORATION

 

By: /s/ Matthew Pauli

Matthew Pauli, Senior Vice President and

Chief Financial Officer

 

 

Date: May 8, 2025


EX-99.1 2 strt-ex99_1.htm EX-99.1 EX-99.1

STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 1

 

Exhibit 99.1

img57970978_0.jpg News Release

 

3333 West Good Hope Rd. • Milwaukee, Wisconsin 53209

IMMEDIATE RELEASE

STRATTEC SECURITY CORPORATION
Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

Strong cash generation of $20.7 million in fiscal 2025 third quarter, the result of cash earnings and improved working capital velocity
Healthy balance sheet with limited debt and $62 million of cash provides safeguard against near term tariff turmoil and tempering market conditions
Net income attributable to STRATTEC Security Corporation was $5.4 million, or $1.32 per diluted share, compared with $1.5 million, or $0.37 per diluted share, in the year ago quarter
Delivered adjusted EBITDA1 of $12.9 million, or 8.9% of sales, compared with $6.2 million, or 4.4%, in prior-year period
Further advanced cost reduction efforts with restructuring of Mexico operations in March; bringing total annualized restructuring savings to approximately $5 million including changes in Milwaukee operations in January

MILWAUKEE, WI, May 8, 2025 – STRATTEC SECURITY CORPORATION (Nasdaq: STRT) (“Company”), a leading provider of smart vehicle access, security and authorization solutions for the global automotive industry, reported financial results for its third quarter of fiscal year 2025, which ended March 30, 2025.

Jennifer Slater, President and CEO of STRATTEC, said, “We delivered another strong quarter as the actions we are taking to transform STRATTEC into a more predictable, higher performing business are flowing through to our bottom line. During the quarter, we captured margin accretive pricing, benefited from both increased and higher value content on winning platforms and improved operational performance.”

Addressing the evolving state of global trade, Ms. Slater added, “The tariff situation has created a rapidly changing environment with significant unknowns. Nevertheless, given what we know today with the USMCA exemption, we estimate that the annual impact of tariffs is approximately $9 million to $12 million of incremental costs, prior to any mitigation efforts. We have been moving quickly to implement tariff mitigation actions to reduce the impact on profit margins including shifting sources within our supply chain, passing through costs to customers and changing logistics processes with customers.”

“We have been making measurable change within the organization to drive cost savings which in the short term will help offset these tariff costs as we work through mitigation actions. In the long term, we believe these actions will make STRATTEC a better business. In total, we have reduced our headcount by 12% in the first nine months of fiscal 2025, including recent restructuring actions we have taken in Mexico. We believe there is additional potential for cost savings through modernization and rethinking our manufacturing and assembly processes. We are focused on instilling a culture of operational excellence to create an enterprise that can deliver stronger earnings power,” Ms. Slater concluded.

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 2

 

FY 2025 Third Quarter Financial Summary
(compared with prior-year period, except where otherwise noted)

Net sales were $144.1 million, an increase of $3.3 million, or 2.4%. Sales growth was driven by $2.5 million of price increases, $2.2 million in favorable product mix, and $1.6 million in net new program launches. This more than offset a $3.0 million reduction in sales volumes for existing platforms.

Gross profit increased $8.4 million to $23.1 million, while gross margin expanded 560 basis points. The improvement was due in part to $4.4 million, or 305 basis points, of favorable foreign currency exchange. The remainder of the increase was the result of pricing actions and materials and labor cost improvements which more than offset the $0.8 million increase in tariff expenses as a result of recent changes in U.S. tariff policy.

Engineering, selling and administrative (“ES&A”) expenses increased $3.3 million, or 25.9%, to $16.0 million. The increase reflected continued investments in the business, $1.2 million of higher incentive and bonus compensation as a result of better than expected performance and $0.8 million in restructuring charges.

A slight increase in interest expense was more than offset by the $0.4 million increase in interest income on higher cash balances and the $0.2 million improvement in other expense related to foreign currency forward contracts.

Net income attributable to STRATTEC was $5.4 million, or $1.32 per diluted share, compared with $1.5 million, or $0.37 per diluted share, in the prior-year period. On an adjusted basis, net income attributable to STRATTEC1 grew 315% to $6.1 million. Adjusted diluted earnings per share1 increased $1.13, or 305%, to $1.50. Adjusted EBITDA1 for the quarter was $12.9 million compared with $6.2 million in the prior-year period. Expanded gross margin on higher sales more than offset investments in ES&A which led to adjusted EBITDA margin of 8.9%, a 450 basis point improvement over the third quarter of fiscal 2024.

Restructuring and Business Transformation Progress

During the third quarter of fiscal 2025, the Company made continued progress on improving its cost structure, by completing the elimination of a production shift in its Milwaukee operations and implementing a restructuring action in its operations in Mexico. The cash cost of the Mexico restructuring actions was $1.6 million, which will result in expected annual savings of $4.5 million. Collectively, restructuring activities implemented in fiscal 2025 are now expected to generate approximately $5 million of annual cost reductions, with savings amounts expected to be phased in and fully realized by the first quarter of fiscal 2026.

Balance Sheet and Liquidity

Increased cash earnings and improved working capital management delivered $20.7 million in cash from operations in the third quarter of fiscal 2025, compared with a use of cash in the prior-year period. Cash from operations for the nine-month period were $41.5 million.

At March 30, 2025, the Company had $62.1 million in cash and cash equivalents, up $19.5 million from the end of the second quarter of fiscal 2025. The Company had no borrowings outstanding under its $40 million revolving credit agreement, while our joint venture had $13.0 million outstanding under its $20 million revolving credit agreement.

Third Quarter Fiscal Year 2025 Webcast and Conference Call

The Company will host a conference call and webcast tomorrow, Friday, May 9, 2025, at 9:00 am Eastern Time to review the financial and operating results for the period ended March 30, 2025, and provide an update on its transformation progress. A question-and-answer session will follow.

You can access the call by phoning (201) 689-8470 or find the webcast and accompanying slide presentation at investors.strattec.com.


1 Refer to “Use of Non-GAAP Financial Metrics and Additional Financial Information” as well as accompanying reconciliations to GAAP

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 3

 

A telephonic replay will be available from 12:00 p.m. ET on the day of the call through Friday, May 23, 2025. To listen to the archived call, dial (412) 317-6671 and enter a replay PIN 13752650. The webcast replay will be available on the Investor Relations section of the Company’s website where a transcript will be posted once available.

About STRATTEC

STRATTEC is a leading global provider of advanced automotive access, security & authorization and select user interface solutions. With a history spanning over 110 years, STRATTEC has consistently been at the forefront of innovation in vehicle security, transitioning from mechanical to integrated electro-mechanical systems. The Company serves a broad range of customers, including leading automotive OEMs, offering power access solutions and advanced security systems that include door handles, lift gates, latches, and key fobs.

For more information on STRATTEC and its solutions, visit www.strattec.com.

Safe Harbor Statement
Certain statements contained in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would.” Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, uncertainties stemming from U.S. trade policies, tariffs and reactions to the same from foreign countries, matters adversely impacting the timing and availability of component parts and raw materials needed for the production of the Company’s products and the products of its customers and fluctuations in costs of operation. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission.

Use of Non-GAAP Financial Metrics and Additional Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, STRATTEC provides Adjusted Non-GAAP information as additional information for its operating results. References to Adjusted Non-GAAP information are to non-GAAP financial measures. These measures are not required by, in accordance with, or an alternative for, GAAP and may be different from similarly titled non-GAAP financial measures used by other companies. STRATTEC’s management uses these measures to make strategic decisions, establish budget plans and forecasts, identify trends affecting STRATTEC’s business, and evaluate performance. Management believes that providing these non-GAAP financial measures to investors, as a supplement to GAAP financial measures, will help investors evaluate STRATTEC’s core operating and financial performance and business trends consistent with how management evaluates such performance and trends. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.

Contact:

Deborah K. Pawlowski

Alliance Advisors IR

Phone: 716-843-3908

Email: dpawlowski@allianceadvisors.com

FINANCIAL TABLES FOLLOW

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 4

 

STRATTEC SECURITY CORPORATION

 

Condensed Results of Operations

 

(In Thousands, except per share amounts)

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

March 30,
2025

 

 

March 31,
2024

 

 

March 30,
2025

 

 

March 31,
2024

 

Net sales

$

144,082

 

 

$

140,773

 

 

$

413,053

 

 

$

394,711

 

Cost of goods sold

 

120,977

 

 

 

126,089

 

 

 

353,876

 

 

 

347,810

 

Gross profit

 

23,105

 

 

 

14,684

 

 

 

59,177

 

 

 

46,901

 

    Gross margin

 

16.0

%

 

 

10.4

%

 

 

14.3

%

 

 

11.9

%

Engineering, selling and administrative expenses

 

16,020

 

 

 

12,725

 

 

 

44,895

 

 

 

38,778

 

Income from operations

 

7,085

 

 

 

1,959

 

 

 

14,282

 

 

 

8,123

 

   Operating margin

 

4.9

%

 

 

1.4

%

 

 

3.5

%

 

 

2.1

%

Interest expense

 

(243

)

 

 

(222

)

 

 

(795

)

 

 

(661

)

Investment income

 

529

 

 

 

143

 

 

 

1,286

 

 

 

337

 

Other (expense) income, net

 

(16

)

 

 

(208

)

 

 

(369

)

 

 

759

 

Income before provision for
      income taxes and non-controlling interest

 

7,355

 

 

 

1,672

 

 

 

14,404

 

 

 

8,558

 

Provision for income taxes

 

1,644

 

 

 

546

 

 

 

3,547

 

 

 

2,197

 

Net income

 

5,711

 

 

 

1,126

 

 

 

10,857

 

 

 

6,361

 

Net income (loss) attributable to non-
      controlling interest

 

315

 

 

 

(380

)

 

 

439

 

 

 

(332

)

Net income attributable to STRATTEC
      SECURITY CORPORATION

$

5,396

 

 

$

1,506

 

 

$

10,418

 

 

$

6,693

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share attributable to
      STRATTEC SECURITY CORPORATION:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

1.34

 

 

$

0.38

 

 

$

2.59

 

 

$

1.69

 

Diluted

$

1.32

 

 

$

0.37

 

 

$

2.56

 

 

$

1.67

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

4,039

 

 

 

3,988

 

 

 

4,026

 

 

 

3,971

 

Diluted

 

4,085

 

 

 

4,017

 

 

 

4,067

 

 

 

3,996

 

 

 

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 5

 

STRATTEC SECURITY CORPORATION

 

Condensed Balance Sheet Data

 

(In Thousands, except share amounts)

 

(Unaudited)

 

 

 

 

 

 

 

 

March 30,
2025

 

 

June 30,
2024

 

ASSETS

 

 

 

 

 

Current Assets:

 

 

 

 

 

Cash and cash equivalents

$

62,106

 

 

$

25,410

 

Receivables, net

 

109,160

 

 

 

99,297

 

Inventories:

 

 

 

 

 

Finished products

 

14,563

 

 

 

19,833

 

Work in process

 

12,228

 

 

 

15,461

 

Purchased materials

 

48,800

 

 

 

46,355

 

Inventories, net

 

75,591

 

 

 

81,649

 

Pre-production costs

 

9,740

 

 

 

22,173

 

Value-added tax recoverable

 

22,342

 

 

 

19,684

 

Other current assets

 

8,276

 

 

 

5,601

 

Total current assets

 

287,215

 

 

 

253,814

 

Deferred income taxes

 

17,084

 

 

 

17,593

 

Other long-term assets

 

5,277

 

 

 

6,698

 

Net property, plant and equipment

 

77,816

 

 

 

86,184

 

 

$

387,392

 

 

$

364,289

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

Accounts payable

$

72,582

 

 

$

54,911

 

Accrued Liabilities:

 

 

 

 

 

Payroll and benefits

 

19,431

 

 

 

28,953

 

Value-added tax payable

 

10,844

 

 

 

9,970

 

Environmental

 

1,390

 

 

 

1,390

 

Warranty

 

10,745

 

 

 

10,695

 

Other current liabilities

 

8,312

 

 

 

12,369

 

Total current liabilities

 

123,304

 

 

 

118,288

 

Borrowings under credit facilities

 

13,000

 

 

 

13,000

 

Postemployment obligations

 

12,076

 

 

 

2,429

 

Other long-term liabilities

 

4,411

 

 

 

4,957

 

Shareholders’ Equity:

 

 

 

 

 

Common stock, authorized 18,000,000 shares, $.01 par value, 7,635,883
   issued shares at March 30, 2025 and 7,586,920 issued shares at
   June 30, 2024

 

76

 

 

 

76

 

Capital in excess of par value

 

102,888

 

 

 

101,024

 

Retained earnings

 

261,030

 

 

 

250,612

 

Accumulated other comprehensive loss

 

(17,836

)

 

 

(15,689

)

Less: treasury stock, at cost (3,596,918 shares at March 30, 2025 and
   3,598,126 shares at June 30, 2024)

 

(135,459

)

 

 

(135,478

)

Total STRATTEC SECURITY CORPORATION shareholders’ equity

 

210,699

 

 

 

200,545

 

Non-controlling interest

 

23,902

 

 

 

25,070

 

Total shareholders’ equity

 

234,601

 

 

 

225,615

 

 

$

387,392

 

 

$

364,289

 

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 6

 

 

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 7

 

STRATTEC SECURITY CORPORATION

 

Condensed Cash Flow Statement Data

 

(In Thousands)

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March 30,
2025

 

 

March 31,
2024

 

 

March 30,
2025

 

 

March 31,
2024

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

5,711

 

 

$

1,126

 

 

$

10,857

 

 

$

6,361

 

Adjustments to reconcile net income to net cash
  provided by (used in) operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

 

3,746

 

 

 

4,059

 

 

 

10,952

 

 

 

12,774

 

Foreign currency transaction loss (gain)

 

 

141

 

 

 

475

 

 

 

(1,052

)

 

 

126

 

Unrealized (gain) loss on peso forward
   contracts

 

 

(705

)

 

 

222

 

 

 

231

 

 

 

(604

)

Stock-based compensation expense

 

 

760

 

 

 

240

 

 

 

1,839

 

 

 

1,224

 

Loss on settlement of postemployment obligation

 

 

 

 

 

 

 

 

283

 

 

 

 

Change in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Receivables

 

 

(17,616

)

 

 

(26,685

)

 

 

(10,237

)

 

 

(7,507

)

Inventories

 

 

5,920

 

 

 

10,827

 

 

 

6,058

 

 

 

(1,015

)

Prepaid and other assets

 

 

(1,850

)

 

 

(4,494

)

 

 

5,994

 

 

 

(16,898

)

Accounts payable

 

 

20,720

 

 

 

9,339

 

 

 

16,730

 

 

 

(7,102

)

Accrued liabilities

 

 

3,632

 

 

 

4,337

 

 

 

(948

)

 

 

4,747

 

Other, net

 

 

261

 

 

 

245

 

 

 

794

 

 

 

671

 

Net cash provided by (used in) operating activities

 

 

20,720

 

 

 

(309

)

 

 

41,501

 

 

 

(7,223

)

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from sale of interest in joint ventures

 

 

 

 

 

 

 

 

 

 

 

2,000

 

Purchase of property, plant and equipment

 

 

(1,170

)

 

 

(1,672

)

 

 

(4,160

)

 

 

(6,065

)

Net cash used in investing activities

 

 

(1,170

)

 

 

(1,672

)

 

 

(4,160

)

 

 

(4,065

)

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under credit facilities

 

 

 

 

 

 

 

 

3,000

 

 

 

2,000

 

Repayment of borrowings under credit facilities

 

 

 

 

 

 

 

 

(3,000

)

 

 

(2,000

)

Employee stock purchases

 

 

16

 

 

 

18

 

 

 

44

 

 

 

55

 

Net cash provided by financing activities

 

 

16

 

 

 

18

 

 

 

44

 

 

 

55

 

Foreign currency impact on cash

 

 

(85

)

 

 

(18

)

 

 

(689

)

 

 

256

 

NET INCREASE (DECREASE) IN CASH AND CASH
   EQUIVALENTS

 

 

19,481

 

 

 

(1,981

)

 

 

36,696

 

 

 

(10,977

)

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS

 

 

 

 

 

 

 

 

 

 

 

 

Beginning of period

 

 

42,625

 

 

 

11,575

 

 

 

25,410

 

 

 

20,571

 

End of period

 

$

62,106

 

 

$

9,594

 

 

$

62,106

 

 

$

9,594

 

SUPPLEMENTAL DISCLOSURE OF CASH FLOW
   INFORMATION:

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid during the period for:

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes

 

$

596

 

 

$

1,731

 

 

$

9,135

 

 

$

3,177

 

Interest

 

$

172

 

 

$

219

 

 

$

731

 

 

$

659

 

Non-cash investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 8

 

Change in capital expenditures in accounts
   payable

 

$

1,176

 

 

$

(89

)

 

$

726

 

 

$

(264

)

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 9

 

STRATTEC SECURITY CORPORATION ("STRATTEC")

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of GAAP to Non-GAAP Financial Measures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal 2024

 

 

Fiscal 2025

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Total

 

ADJUSTED NET SALES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Sales (GAAP)

 

 

135,406

 

 

118,532

 

 

140,773

 

 

143,055

 

$

537,766

 

 

 

139,052

 

 

129,919

 

 

144,082

 

 

-

 

$

413,053

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

 

 

 

 

Retroactive FY23 one-time pricing recovery

 

 

(7,950

)

 

(1,551

)

 

(397

)

 

175

 

 

(9,723

)

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

Adjusted Sales (Non-GAAP)

 

 

127,456

 

 

116,981

 

 

140,376

 

 

143,230

 

 

528,043

 

 

 

139,052

 

 

129,919

 

 

144,082

 

 

-

 

 

413,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADJUSTED EBITDA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to STRATTEC (GAAP)

 

$

4,165

 

$

1,022

 

$

1,506

 

$

9,620

 

$

16,313

 

 

$

3,703

 

$

1,319

 

$

5,396

 

$

-

 

$

10,418

 

Net income (loss) attributable to non-controlling interest

 

 

290

 

 

(242

)

 

(380

)

 

447

 

 

115

 

 

 

45

 

 

79

 

 

315

 

 

-

 

 

439

 

Provision for income tax

 

 

1,387

 

 

264

 

 

546

 

 

1,578

 

 

3,775

 

 

 

1,498

 

 

405

 

 

1,644

 

 

-

 

 

3,547

 

Other (income) expense, net

 

 

131

 

 

(1,098

)

 

208

 

 

(1,958

)

 

(2,717

)

 

 

(129

)

 

482

 

 

16

 

 

-

 

 

369

 

Investment and interest income

 

 

(87

)

 

(107

)

 

(143

)

 

(235

)

 

(572

)

 

 

(349

)

 

(408

)

 

(529

)

 

-

 

 

(1,286

)

Interest expense

 

 

220

 

 

219

 

 

222

 

 

239

 

 

900

 

 

 

295

 

 

257

 

 

243

 

 

-

 

 

795

 

Income from operations

 

 

6,106

 

 

58

 

 

1,959

 

 

9,691

 

 

17,814

 

 

 

5,063

 

 

2,134

 

 

7,085

 

 

-

 

 

14,282

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 10

 

Depreciation

 

 

4,385

 

 

4,330

 

 

4,059

 

 

3,773

 

$

16,547

 

 

 

3,662

 

 

3,544

 

 

3,746

 

 

-

 

$

10,952

 

Non-cash stock-based compensation

 

 

505

 

 

479

 

 

240

 

 

243

 

 

1,467

 

 

 

188

 

 

891

 

 

760

 

 

-

 

 

1,839

 

Restructuring and similar charges

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

-

 

 

265

 

 

809

 

 

-

 

 

1,074

 

Retroactive FY23 one-time pricing recovery, net

 

 

(7,078

)

 

(641

)

 

(298

)

 

24

 

 

(7,993

)

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

Executive transition costs

 

 

-

 

 

774

 

 

211

 

 

73

 

 

1,058

 

 

 

941

 

 

921

 

 

214

 

 

-

 

 

2,076

 

Business transformation costs

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

74

 

 

215

 

 

259

 

 

-

 

 

548

 

 

 

 

(2,188

)

 

4,942

 

 

4,212

 

 

4,113

 

 

11,079

 

 

 

4,865

 

 

5,836

 

 

5,788

 

 

-

 

 

16,489

 

Adjusted EBITDA (Non-GAAP)

 

$

3,918

 

$

5,000

 

$

6,171

 

$

13,804

 

$

28,893

 

 

$

9,928

 

$

7,970

 

$

12,873

 

$

-

 

$

30,771

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA as a % of Adjusted Net Sales

 

 

3.1

%

 

4.3

%

 

4.4

%

 

9.6

%

 

5.5

%

 

 

7.1

%

 

6.1

%

 

8.9

%

 

 

 

7.4

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADJUSTED NET INCOME AND EARNINGS/(LOSS) PER SHARE:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to STRATTEC (GAAP)

 

$

4,165

 

$

1,022

 

$

1,506

 

$

9,620

 

$

16,313

 

 

$

3,703

 

$

1,319

 

$

5,396

 

$

-

 

$

10,418

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring and similar charges

 

 

265

 

 

3

 

 

-

 

 

63

 

 

331

 

 

 

-

 

 

265

 

 

809

 

 

-

 

 

1,074

 

Retroactive FY23 one-time pricing recovery, net

 

 

(7,078

)

 

(641

)

 

(298

)

 

24

 

 

(7,993

)

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

Executive transition costs

 

 

-

 

 

973

 

 

211

 

 

73

 

 

1,257

 

 

 

1,224

 

 

1,225

 

 

214

 

 

-

 

 

2,663

 

Business transformation costs

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

74

 

 

215

 

 

259

 

 

-

 

 

548

 

 


STRATTEC SECURITY CORPORATION Generated $20.7 million in Cash from Operations in Fiscal 2025 Third Quarter

May 8, 2025

Page 11

 

Non-controlling interest impact on above adjustments

 

 

1,014

 

 

181

 

 

55

 

 

22

 

 

1,272

 

 

 

-

 

 

-

 

 

(160

)

 

-

 

 

(160

)

Tax effect on above adjustments

 

 

1,305

 

 

(116

)

 

7

 

 

(41

)

 

1,155

 

 

 

(292

)

 

(384

)

 

(376

)

 

-

 

 

(1,052

)

 

 

 

(4,494

)

 

400

 

 

(25

)

 

141

 

 

(3,978

)

 

 

1,006

 

 

1,321

 

 

746

 

 

-

 

 

3,073

 

Adjusted Net Income/(Loss) attributable to STRATTEC (Non-GAAP)

 

$

(329

)

$

1,422

 

$

1,481

 

$

9,761

 

$

12,335

 

 

$

4,709

 

$

2,640

 

$

6,142

 

$

-

 

$

13,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Basic Shares Outstanding

 

 

3,948

 

 

3,976

 

 

3,988

 

 

3,988

 

 

3,975

 

 

 

4,005

 

 

4,035

 

 

4,039

 

 

-

 

 

4,026

 

Weighted Average Diluted Shares Outstanding

 

 

3,974

 

 

3,998

 

 

4,017

 

 

4,027

 

 

4,004

 

 

 

4,046

 

 

4,070

 

 

4,085

 

 

-

 

 

4,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share (GAAP)

 

$

1.05

 

$

0.26

 

$

0.37

 

$

2.39

 

$

4.07

 

 

$

0.92

 

$

0.32

 

$

1.32

 

$

-

 

$

2.56

 

Adjusted dilutive earnings/(loss) per share (Non-GAAP)

 

$

(0.08

)

$

0.36

 

$

0.37

 

$

2.42

 

$

3.08

 

 

$

1.16

 

$

0.65

 

$

1.50

 

$

-

 

$

3.32

 

 


EX-99.2 3 strt-ex99_2.htm EX-99.2

Slide 1

Q3 FY2025 Financial ResultsConference Call May 9, 2025Nasdaq: STRT Jennifer Slater President and CEO  Matthew Pauli Senior Vice President and CFO www.strattec.com


Slide 2

Safe Harbor Statement Safe Harbor StatementCertain statements contained in this presentation contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,” “potential,” “should,” “will,” and “would.” Such forward-looking statements are inherently subject to many uncertainties in the Company’s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company’s and its customers’ products, competitive and technological developments, customer purchasing actions, changes in warranty provisions and customer product recall policies, work stoppages at the Company or at the location of its key customers as a result of labor disputes, foreign currency fluctuations, the impact of U.S. trade policies, tariffs and reactions to the same from foreign countries on costs and customer demand, matters adversely impacting the timing and availability of component parts and raw materials needed for the production of our products and the products of our customers and fluctuations in our costs of operation. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press presentation and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this presentation. In addition, such uncertainties and other operational matters are discussed further in the Company’s quarterly and annual filings with the Securities and Exchange Commission. Use of Non-GAAP Financial Metrics and Additional Financial InformationIn addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, STRATTEC provides Adjusted Non-GAAP information as additional information for its operating results. References to Adjusted Non-GAAP information are to non-GAAP financial measures.  These measures are not required by, in accordance with, or an alternative for, GAAP and may be different from similarly titled non-GAAP financial measures used by other companies. STRATTEC’s management uses these measures to make strategic decisions, establish budget plans and forecasts, identify trends affecting STRATTEC’s business, and evaluate performance. Management believes that providing these non-GAAP financial measures to investors, as a supplement to GAAP financial measures, will help investors evaluate STRATTEC’s core operating and financial performance and business trends consistent with how management evaluates such performance and trends.  Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. The Company has provided reconciliations of comparable GAAP to non-GAAP measures in the supplemental slides of this presentation.


Slide 3

Operational Cash Flow: Generated $20.7 million in Q3 YTD cash from operations of $41.5 million Revenue Growth: up $3.3 million to $144.1 million Driven by strategic pricing actions & favorable product mix Boosted by net new program launches Profitability: Delivered adj. EBITDA of $12.9 million (8.9% of sales) Up from $6.2 million (4.4% of sales) in Q3 FY24 Executing Operational Transformation: FY 2025 restructuring actions in Milwaukee and Mexico to deliver approximately $5 million in annual savings 12% headcount reduction YTD improves operational leverage Driving self-help efforts to expand margins while changing culture Tariff mitigation underway via USMCA compliance, logistics changes, pricing and sourcing STRATTEC Q3 FY2025Highlights


Slide 4

Executing Transformation Amid Uncertainty Managing Through Trade Uncertainty Executing Plan to Deliver Value Restructuring in Q3 FY25 expected to deliver ~$5M in annual savings 12% total headcount reduction FYTD Evaluating long-term modernization of manufacturing and assembly processes Price actions delivering margin improvement Building A Stronger Business Cash provides buffer for uncertain outlook and enables continued execution of plans Margin expansion and working capital improvements driving cash flow Cash Cushion for Uncertain Times Excluding USMCA compliant sales, estimated annual tariff impact of $9M to $12M, before mitigation Mitigation plans underway: logistics adjustments, supplier shifts, pricing actions Tariff uncertainty causing adverse auto industry production outlook Focused on earnings power and margin expansion Strengthening operational discipline and accountability Continued investment in organization and people ($ in millions)


Slide 5

Ford up 6%: higher volume and added content for power tailgate and latches Stellantis up 14%: new key and lockset content on Dodge Ram Heavy Duty trucks GM down 4%: lower demand across products ($ in millions; narrative compared with prior-year period unless otherwise noted) Q3 FY25 Sales Increased 2.4% Y/Y Net Sales Growth Net sales up $3.3 million $2.5 million of strategic pricing increases and $2.2 million in higher value content placement $1.6 million due to net new program launches Offset by $3.0 million reduction in sales volumes for existing platforms 6% growth y/y in Power Access products on higher value content placement across SUV/Pickup platforms Keys & locksets up 7% y/y on pricing and new launches including high-content Dodge Ram Heavy Duty platform Door Handles & Latches down slightly Q3 FY25 Sales by Customer Q3 FY25 Sales by Product $140.8 $144.1 Above market sales growth driven by strategic pricing actions, higher value content and net new program launches


Slide 6

Gross margin expanded 560 basis points in Q3 Stronger US dollar $4.4 million, or 310 bps, FX benefit Current rate of ~20 MXN peso at 5-year average Margin-accretive strategic pricing actions Materials and labor cost improvements $0.8 million tariff expenses related to U.S. tariff policy changes YTD gross margin expanded 240 basis points FX tailwinds, stronger pricing and operational leverage Partially offset by Mexico labor costs (govt mandated) and tariff impacts ($ in millions; narrative compared with prior-year period unless otherwise noted) Higher Gross Profit and Margin Expansion Gross Profit & Margin (Qtr) 11.4% 13.2% Gross Profit & Margin (YTD) 16.0% 10.4% 14.3% 11.9%


Slide 7

Well positioned to manage dynamic tariff environment. ~93% of US imports are USMCA compliant and are not subject to additional tariffs. Strong balance sheet and cost focus provide support as mitigation actions are implemented. TARIFF IMPACT Reassessing our supplier network – focused on in-region for region procurement. Active customer engagement on mitigation plans. Expect 100% commercial recoveries. Established daily “Tariff Task Force” to align cross functionally. Engaged third party to assist in review of USMCA compliance & HTS code classification. Indirect: Uncertainty in potential changes in North American automotive production schedules Identified additional areas for operational cost improvements (i.e. logistics) MITIGATION ACTIONS Direct: Current incremental tariffs impact ~$30m of sales (6% of consolidated sales). Total estimated tariff costs are $9-12 million before mitigation efforts. Manageable Tariff Exposure


Slide 8

Increase in ES&A(1) reflects business investment, transformation costs and investments in human capital Up $3.3 million to 11.1% of sales $1.2 million incentive and bonus compensation $0.8 million in restructuring charges $0.8 million timing of engineering spend and outside services Investments in leadership expected to deliver process efficiencies and related savings over time YTD results include $2.1 million of executive transition costs compared with $1.0 million in prior year, $0.5 million business transformation costs and $1.0 million of restructuring costs. $2.8 million incremental incentive and bonus compensation ($ in millions; narrative compared with prior-year period unless otherwise noted) Strengthening Operations for Efficiency ES&A(1) | % of Sales (Qtr) 11.4% 13.2% ES&A(1) | of Sales (YTD) (1) Engineering, selling and administrative expenses


Slide 9

($ in millions except earnings per share data; narrative compared with prior-year period unless otherwise noted) Q3 FY25 Net Income(1) up 258% Q3 FY25 Adj. EPS(2) grew 305% to $1.50 Q3 FY25 Adj. EBITDA(2) margin expanded 450 basis points Driven by higher sales volume, FX and cost management initiatives; higher bonus accruals on improving performance Focused on driving sustainable margin improvement Enhanced Earnings Power (1) Net Income Attributable to STRATTEC(2) Adjusted Net Income, Adjusted Diluted Earnings per Share, Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP metrics. Refer to the reconciliation of GAAP to non-GAAP metrics in the supplemental tables of this presentation. Adj. Net Income(2) (Qtr) Adj. Net Income(2) (YTD) Net Income(1) (Qtr) Net Income(1) (YTD) Adj. EBITDA(2) & Margin (Qtr) Adj. EBITDA(2) & Margin (YTD)


Slide 10

$21.0 million increase in operating cash flow Improved operating performance Working capital efficiency improvements, including improvement in days payable outstanding Financial flexibility $62.1 million in cash $47 million available under lines of credit FY 2025 CapEx Focused on new product programs and equipment replacements/upgrades for safety and productivity improvements $4.2M YTD CapEx primarily includes capital to support new customer programs and $1.2 million for upgraded equipment to improve productivity Capital priorities Conserve cash through uncertain times and moderated market conditions Operational efficiencies & productivity: equipment and IT modernization, people Organic growth initiatives: market positioning, brand and selling processes Capitalization March 30, 2024 December 29, 2024 Cash and cash equivalents $ 62.1 $  42.6 Total debt 13.0 13.0 Shareholders’ equity 234.6 228.2 Total capitalization $ 247.2 $ 241.2 Debt / total capitalization 5.3% 5.4% Three Months Ended March 30, 2025 March 31, 2024 Net cash provided by operating activities $ 20.7 $ (0.3) CapEx (1.2) (1.7) Free cash flow (FCF)(1) $ 19.5 $ (2.0) ($ in millions; narrative compared with prior-year period unless otherwise noted) (1) Free cash flow is a non-GAAP metric defined as cash flow from operations less capital expenditures (CapEx) Strong Cash Generation


Slide 11

www.strattec.com Q3 FY2025 Financial ResultsSupplemental Slides


Slide 12

Reconciliation of GAAP to Non-GAAP Financial Measures Fiscal 2024 Fiscal 2025 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total ADJUSTED NET SALES:                         Net Sales (GAAP) 135,406 118,532 140,773 143,055 $537,766 139,052 129,919 144,082 - $413,053 Adjustments:                   -     Retroactive FY23 one-time pricing recovery (7,950) (1,551) (397) 175 (9,723) - - - - - Adjusted Sales (Non-GAAP)   127,456 116,981 140,376 143,230 528,043   139,052 129,919 144,082 - 413,053                           ADJUSTED EBITDA: Net income attributable to STRATTEC (GAAP)   $ 4,165 $ 1,022 $ 1,506 $ 9,620 $ 16,313   $ 3,703 $ 1,319 $ 5,396 $ - $ 10,418 Net income (loss) attributable to non-controlling interest 290 (242) (380) 447 115 45 79 315 - 439 Provision for income tax   1,387 264 546 1,578 3,775   1,498 405 1,644 - 3,547 Other (income) expense, net 131 (1,098) 208 (1,958) (2,717) (129) 482 16 - 369 Investment and interest income   (87) (107) (143) (235) (572)   (349) (408) (529) - (1,286) Interest expense 220 219 222 239 900 295 257 243 - 795 Income from operations   6,106 58 1,959 9,691 17,814   5,063 2,134 7,085 - 14,282 Adjustments:                         Depreciation 4,385 4,330 4,059 3,773 $ 16,547 3,662 3,544 3,746 - $ 10,952 Non-cash stock-based compensation   505 479 240 243 1,467   188 891 760 - 1,839 Restructuring and similar charges - - - - - - 265 809 - 1,074 Retroactive FY23 one-time pricing recovery, net   (7,078) (641) (298) 24 (7,993)   - - - - - Executive transition costs - 774 211 73 1,058 941 921 214 - 2,076 Business transformation costs   - - - - -   74 215 259 - 548 (2,188) 4,942 4,212 4,113 11,079 4,865 5,836 5,788 - 16,489 Adjusted EBITDA (Non-GAAP)   $ 3,918 $ 5,000 $ 6,171 $ 13,804 $ 28,893   $ 9,928 $ 7,970 $ 12,873 $ - $ 30,771 Adjusted EBITDA as a % of Adjusted Net Sales   3.1% 4.3% 4.4% 9.6% 5.5%   7.1% 6.1% 8.9%   7.4%


Slide 13

Reconciliation of GAAP to Non-GAAP Financial Measures Fiscal 2024 Fiscal 2025 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total ADJUSTED NET INCOME AND EARNINGS/(LOSS) PER SHARE: Net income attributable to STRATTEC (GAAP)   $ 4,165 $ 1,022 $ 1,506 $ 9,620 $ 16,313   $ 3,703 $ 1,319 $ 5,396 $ - $ 10,418 Adjustments: Restructuring and similar charges   265 3 - 63 331   - 265 809 - 1,074 Retroactive FY23 one-time pricing recovery, net (7,078) (641) (298) 24 (7,993) - - - - - Executive transition costs   - 973 211 73 1,257   1,224 1,225 214 - 2,663 Business transformation costs - - - - - 74 215 259 - 548 Non-controlling interest impact on above adjustments   1,014 181 55 22 1,272   - - (160) - (160) Tax effect on above adjustments 1,305 (116) 7 (41) 1,155 (292) (384) (376) - (1,052)     (4,494) 400 (25) 141 (3,978)   1,006 1,321 746 - 3,073 Adjusted Net Income/(Loss) attributable to STRATTEC (Non-GAAP) $ (329) $ 1,422 $ 1,481 $ 9,761 $ 12,335 $ 4,709 $ 2,640 $ 6,142 $ - $ 13,491                           Weighted Average Basic Shares Outstanding 3,948 3,976 3,988 3,988 3,975 4,005 4,035 4,039 - 4,026 Weighted Average Diluted Shares Outstanding   3,974 3,998 4,017 4,027 4,004   4,046 4,070 4,085 - 4,067 Diluted earnings per share (GAAP)   $ 1.05 $ 0.26 $ 0.37 $ 2.39 $ 4.07   $ 0.92 $ 0.32 $ 1.32 $ - $ 2.56 Adjusted dilutive earnings/(loss) per share (Non-GAAP) $ (0.08) $ 0.36 $ 0.37 $ 2.42 $ 3.08 $ 1.16 $ 0.65 $ 1.50 $ - $ 3.32


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Q3 FY2025 Financial ResultsMay 8, 2025Nasdaq: STRT www.strattec.com Investor Relations Contact: Deborah K. Pawlowski, Alliance Advisors IR716-843-3908 dpawlowski@Allianceadvisors.com