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Strattec Security (STRT) investor relations material
Strattec Security 49th Annual Automotive Symposium summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.49th Annual Automotive Symposium summary3 Nov, 2025
Operational transformation and leadership
New CEO and CFO have driven significant operational changes, including a nearly complete overhaul of the executive team and a focus on talent development at all levels, breaking down silos and fostering innovation.
Strategic initiatives center on innovation, collaboration, and results, with a new business operating system implemented to improve margins and cash generation.
Restructuring in both U.S. and Mexico operations has reduced headcount by 15%, shifted Milwaukee to two shifts, and resulted in $6M annual savings.
Modernization includes automation, digitizing employee benefits, sale/leaseback of facilities, HQ relocation, and IT enhancements.
The company maintains a flexible manufacturing footprint, ready to adapt to changes in trade agreements or tariffs.
Financial performance and outlook
First quarter fiscal 2026 revenue reached $152 million, up 10% year-over-year, with TTM Q1 FY26 revenue at $578.4M, driven by new product launches and pricing actions.
Gross profit margin improved to 17.3%, expanding by 370 basis points year-over-year in Q1 FY26, supported by pricing, volume, and restructuring.
Net income for the quarter was $8.5 million, up 130% year-over-year, with adjusted EBITDA at $15.6 million and margin up 310 basis points.
Cash from operations normalized at $11.3M in Q1 FY26, with $90 million on hand, minimal debt, and a new $40M revolving credit facility.
Near-term headwinds include supply chain disruptions from an aluminum fire and chip shortages, impacting Q2 and possibly Q3 FY26.
Product strategy, innovation, and market positioning
Product portfolio spans traditional locks, advanced power access, digital key fobs, and user interface controls, serving EV, hybrid, and ICE vehicles.
Focus has shifted to high-growth segments, deprioritizing crowded markets and emphasizing power access products for premium and mainstream vehicles.
Digital key fobs using ultra-wideband technology are being developed, with expectations that physical key fobs will remain relevant for at least a decade.
Leading position in power access, leveraging electronics and software engineering for seamless integration with vehicle ECUs.
Competitive landscape includes major global suppliers across all product categories.
Strategy for 2029+ model year platform launches
Path to 18-20% gross margin given headwinds?
Digital key fob competitive differentiation
What specific strategies drive power access product growth?
How will automation impact Mexico operations?
How does Strattec manage USMCA renegotiation risk?
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Next Strattec Security earnings date
IAccess Alpha Virtual MicroCap Conference9 Dec, 2025
Next Strattec Security earnings date
IAccess Alpha Virtual MicroCap Conference9 Dec, 2025
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Frequently asked questions
Strattec Security Corporation designs, manufactures, and markets mechanical locks, electro-mechanical locks, latches, and related security products for the automotive industry. The company’s product offerings include keyless entry systems, steering column and door handle components, and other vehicle access control products. Strattec serves major automotive original equipment manufacturers (OEMs) and the aftermarket sector, providing both high-volume production and custom solutions tailored to specific vehicle models. In addition to its core automotive focus, Strattec also supplies products for commercial, recreational, and industrial vehicles. The company is headquartered in Milwaukee, Wisconsin, and its shares are listed on the NASDAQ.
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