STRATTEC SECURITY (STRT) Company Report

STRATTEC reported Q1 FY26 net sales of $152.4 million, an increase of 9.6% year-over-year, driven by higher demand, pricing benefits, favorable sales mix, and new program launches.
The company achieved a Q1 FY26 gross margin of 17.3%, expanding 370 basis points year-over-year, primarily due to pricing actions, increased production volume, and restructuring savings.
Adjusted EBITDA for Q1 FY26 was $15.6 million, with the margin expanding 310 basis points year-over-year to 10.2%.
STRATTEC anticipates near-term headwinds in Q2 and potentially Q3 FY26, primarily due to supply chain disruptions from an aluminum fire, semiconductor chip shortages, and Mexico border issues.
As of September 28, 2025, the company maintained a strong financial position with $90.5 million in cash and cash equivalents and total debt reduced to $5.0 million, resulting in a debt to total capitalization of 1.9%.

Dec 11, 2025, 6:00 PM

Presentation

Strattec Reports Strong Q1 FY2026 Sales and Margin Improvement

STRT

Revenue Acceleration/Inflection

Guidance Update

New Projects/Investments

Strattec reported Q1 fiscal year 2026 sales of $152 million, a 10% increase year-over-year, outperforming the North American automotive market's 5% growth.
The company achieved a gross margin of 17.3% in Q1 FY2026, with adjusted net income of $9.2 million ($2.22 per share) and adjusted EBITDA of $15.6 million (10% margin), reflecting successful transformation efforts.
Strattec maintains a strong financial position with $90 million in cash and only $5 million in debt, and expects fiscal year 2026 revenue to closely follow North American production.
The company is prioritizing growth in security and authorization (including digital key technology) and vehicle access (power access products), and has initiated a process to develop a framework for M&A.

Dec 11, 2025, 6:00 PM

Transcript

Strattec Reports Strong Q1 FY2026 Financials and Outlines Transformation Progress

STRT

Earnings

Management Change

New Projects/Investments

Strattec (STRT) reported Q1 fiscal year 2026 sales of $152 million, representing a 10% increase year-over-year, with gross margins improving to 17.3% and adjusted EBITDA of $15.6 million.
The company maintains a strong liquidity position with $90 million in cash on its balance sheet and only $5 million in debt, while focusing on a business transformation that has led to improved margins and cash generation.
Strattec anticipates its revenue will closely follow North American production in fiscal year 2026, prioritizing growth in power access and digital key technology, and is developing a framework for potential M&A.

Dec 11, 2025, 6:00 PM

Transcript

Strattec Presents at Sidoti's Year End Virtual Investor Conference

STRT

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Strattec (STRT) reported first-quarter sales of $152 million, a 10% year-over-year increase, outperforming the North American automotive market's 5% growth. Gross margins improved to 17.3%, with adjusted net income of $9.2 million ($2.22 per share) and adjusted EBITDA of $15.6 million.
The company maintains a strong liquidity position with $90 million in cash and only $5 million in debt, generating $11 million in cash from operations in the first quarter.
Strattec is undergoing a transformation, focusing on improving margins and cash balance, and prioritizing growth in power access products and digital key technology.
Management expects revenue to closely follow North American production in fiscal year 2026, anticipating a moderate to slightly down market for the first half of calendar year 2026.
Annual tariffs of $5-$7 million are largely mitigated through various actions, with any remaining impact expected to be a timing lag rather than a long-term hit to the bottom line.

Dec 11, 2025, 6:00 PM

Transcript

Strattec Security Corp. Reports Strong Q1 FY2026 Results and Transformation Progress

STRT

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Strattec Security Corp. reported Q1 FY2026 sales of $152.4 million, a 9.6% increase year-over-year, outperforming the North American automotive production growth of 4%-5%.
The company's gross margin improved by 370 basis points year-over-year to 17.3% in Q1 FY2026, attributed to increased volumes, 2025 restructuring savings, and pricing actions.
Strattec delivered $9.2 million in adjusted net income ($2.22 per share) and $15.6 million in adjusted EBITDA (approximately 10%) for Q1 FY2026.
The company maintains a strong financial position with $90 million in cash and only $5 million in outstanding debt as of the end of Q1 FY2026.
Strattec is in the early stages of a transformation journey focused on operational improvements, strategic pricing, and modernizing the business, which has steadily improved margins and cash balance over the past five quarters.

Dec 9, 2025, 3:00 PM

Transcript

Strattec Security Corp. Reports Strong Q1 FY2026 Results and Outlines Transformation Progress

STRT

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Strattec Security Corp. reported Q1 FY2026 sales of $152.4 million, an increase of 9.6% year-over-year, outperforming the North American automotive production growth of 4%-5%. The company achieved a gross margin of 17.3%, up 370 basis points year-over-year, and delivered $9.2 million in adjusted net income ($2.22 per share) and $15.6 million in adjusted EBITDA.
The company's ongoing transformation efforts, including pricing actions and restructuring savings from 2025, have driven improvements in margins and cash generation, with $90 million in cash on the balance sheet at the end of Q1.
Strattec expects its revenue to closely follow North American production in 2026 and aims for a longer-term gross profit percentage of 18%-20%. The product portfolio is powertrain agnostic, supporting both internal combustion engines and electric vehicles, with a focus on digital key technology and power access products.

Dec 9, 2025, 3:00 PM

Transcript

STRATTEC Reports Strong Q1 FY26 Financial Performance and Strategic Progress

STRT

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

STRATTEC reported Q1 FY26 net sales of $152.4 million, an increase of 9.6% year-over-year, with gross margin expanding 370 basis points year-over-year to 17.3%. Net income for Q1 FY26 was $8.5 million, and Adjusted EBITDA margin reached 10.2%.
The company demonstrated strong cash generation, with cash from operations at $11.3 million in Q1 FY26, and a healthy balance sheet, reducing total debt to $5.0 million as of September 28, 2025, and holding $90.5 million in cash and equivalents.
STRATTEC is undergoing a transformation, implementing initiatives such as a 15% headcount reduction in FY25 for $5M in savings, $8 million in annualized pricing captured in FY2025, and focusing on innovation like digital keys.
Near-term headwinds are expected to impact Q2 FY26 revenue and margins due to supply chain issues, including an aluminum fire, semiconductor chip shortages, and Mexico border issues, potentially extending into Q3 FY26.

Dec 9, 2025, 3:00 PM

Presentation

Strattec Security Corp. Reports Strong Q1 2026 Financial Results Amidst Transformation

STRT

Revenue Acceleration/Inflection

New Projects/Investments

Guidance Update

Strattec Security Corp. (STRT) reported Q1 2026 sales of $152.4 million, representing a 9.6% increase year-over-year, which outperformed the North American automotive production growth of 4-5%.
The company's gross margin improved to 17.3% in Q1 2026, a 370 basis point increase year-over-year, attributed to higher volumes, 2025 restructuring savings, and pricing actions.
For Q1 2026, Strattec delivered $9.2 million in adjusted net income ($2.22 per share) and $15.6 million in adjusted EBITDA (roughly 10%), alongside a strong balance sheet with $90 million in cash and only $5 million in debt.
Strattec is in the early stages of a business transformation focused on improving operating efficiency and cost structure, with a long-term gross profit target of 18%-20%. The company's products are powertrain agnostic, supporting internal combustion, hybrid, and electric vehicles.

Dec 9, 2025, 3:00 PM

Transcript

Strattec Delivers Strong Q1 FY26 Financial Performance and Addresses Near-Term Supply Chain Challenges

STRT

Earnings

Guidance Update

New Projects/Investments

Strattec reported Q1 FY26 net sales of $152.4 million, an increase of 9.6% year-over-year, with gross profit expanding 370 basis points to 17.3% due to pricing actions, higher production volume, and restructuring savings.
The company achieved Q1 FY26 diluted GAAP EPS of $2.07 and Adjusted EPS of $2.22, reflecting a 91% year-over-year growth in Adjusted EPS.
Strattec's cash and cash equivalents stood at $90.5 million as of September 28, 2025, with total debt reduced to $5.0 million, resulting in a debt to total capitalization of 1.9%.
Management anticipates near-term revenue impacts in Q2 FY26 and potentially Q3 FY26 due to supply chain constraints, including an aluminum fire and semiconductor chip shortages.
The company is focused on strategic initiatives such as new platform launches for model years 2029 and beyond, and aims for a long-term gross margin of 18% to 20%.

Nov 3, 2025, 7:20 PM

Presentation

Strattec Security Corporation Reports Strong Q1 FY2026 Results and Operational Transformation

STRT

Earnings

Management Change

Revenue Acceleration/Inflection

Strattec Security Corporation reported Q1 FY2026 revenue of $152 million, a 10% year-over-year increase, outperforming North American automotive production growth of 5%.
The company achieved a gross profit margin of 17.3% and an adjusted EBITDA margin of 10.2% in Q1 FY2026, marking the first double-digit EBITDA margin in two years, driven by price increases, volume, and restructuring efforts including a 15% reduction in headcount.
Net income for Q1 FY2026 was $8.5 million, or $2.07 per share.
Strattec maintains a strong balance sheet with $90 million in cash and only $5 million in debt at the end of Q1 FY2026, having generated $70 million in cash from operations in FY2025 and an additional $10 million in Q1 FY2026.
The company is in the early stages of a transformation under a new leadership team, focusing on operational improvements, product innovation (including digital key fobs), and exploring M&A opportunities to support growth and product strategy.