Strattec FY26 Q3 net income drops 40% to $3.2 million; net sales fall 4.5% to $137.6 million

• Strattec Security reported fiscal Q3 net income attributable to shareholders of 3.2 million, or $0.78 per diluted share, down from $5.4 million, or $1.32 per diluted share, a year earlier.
• Net sales fell 4.5% to $137.6 million, reflecting $7.7 million of lower volume including $3.4 million tied to customer EV program cancellations.
• Gross margin widened 0.5 percentage point to 16.5% despite a 170 basis point foreign currency headwind; adjusted EBITDA slid to $10.1 million from $12.9 million.
• Cash from operations was $11.4 million, helping lift cash and cash equivalents to $107 million at quarter-end.
• CEO Jennifer Slater said transformation efforts remain focused on improving cost structure and positioning to win new opportunities on future platforms for model years 2029 and beyond, amid weak demand, platform changes, and tariffs.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Strattec Security Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 202605071615BIZWIRE_USPR_____20260507_BW108431) on May 07, 2026, and is solely responsible for the information contained therein.