STRT

EX-99.1

2 strt-ex99_1.htm

EX-99.1

EX-99.1

NEWS

RELEASE

FOR IMMEDIATE RELEASE

Strattec Transformation Delivers Margin Improvement and Strong Cash Generation in Fiscal 2026

• Fourth quarter fiscal 2026 sales of $151.8 million was better than expected and relatively unchanged from prior year; achieved sales of $579.4 million for fiscal year 2026

• Reported fourth quarter gross margin of 15.6%; full year gross margin expanded to 16.5%, up from 15.0% in fiscal 2025

• Generated fourth quarter net income attributable to Strattec of $3.9 million, or $0.95 per diluted share; adjusted diluted earnings per share were $2.06, unchanged from the prior-year period

• Fourth quarter Adjusted EBITDA was $12.5 million, or 8.3% of net sales, compared with $13.0 million, or 8.5% of sales in the prior-year period; fiscal 2026 Adjusted EBITDA1 was $50.5 million, a 15.3% increase over the prior year

• $108.2 million in cash and no debt; returned $7.4 million to shareholders through share repurchases in the fourth quarter and authorized a new $40 million share buyback program

MILWAUKEE, WI, August 25, 2026 — Strattec (Nasdaq: STRT), a global provider of highly engineered access solutions for the automotive and mobility industries, today reported financial results for its fourth quarter and fiscal year 2026, which ended June 28, 2026.

Jennifer Slater, President and CEO of Strattec, said, “Fiscal 2026 was a year of progress and discipline as we continued to reshape Strattec into a more resilient, higher-performing business. While our fourth quarter and full-year results were impacted by foreign exchange pressure and the effect of tariffs, we nonetheless delivered year-over-year growth in sales and gross margin expansion through disciplined pricing, cost actions and operational improvements.”

She added, “We recognize that the near-term environment remains uncertain and we have much work to do to secure future OEM vehicle platforms. We are managing costs and capital prudently, while our strong cash position gives us the flexibility to continue investing in our product technologies, production automation and customer relationships. These investments will better position us to benefit when industry conditions improve. The strength of our balance sheet also allows us to

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

3333 WEST GOOD HOPE ROAD

MILWAUKEE, WI 53209

414.247.3333

WWW.STRATTEC.COM

NASDAQ:

STRT

Strattec Transformation Delivers Margin Improvement and Strong Cash Generation in Fiscal 2026 August 25, 2026 Page 2 of 10

consider opportunities that could enhance scale and diversify our customers, products and programs over time.”

FY 2026 Fourth Quarter Financial Summary

Net sales were $151.8 million, relatively unchanged from $152.0 million in the prior-year period, and reflected better than expected OEM vehicle production volumes relative to industry forecasts. A majority of the volume decline, including $3.2 million related to customer cancelled EV programs, was offset by pricing actions.

Gross profit was $23.6 million, compared with $25.4 million in the prior year while gross margin contracted 110 basis points to 15.6%. Restructuring savings of $0.8 million, a $0.9 million reduction in tariff charges and pricing were more than offset by $1.9 million of higher costs related to unfavorable foreign currency exchange rates and the prior year benefit of $1.3 million of incremental tooling gains.

Selling, administrative and engineering (“SAE”) expenses increased 3%, or $0.6 million, to $17.5 million, or 11.5% of sales, compared with $16.9 million, or 11.1% of sales, in the prior-year period. Higher SAE expenses included $1.4 million in business transformation and executive transition costs. These costs were partially offset by a $0.7 million reduction in engineering and professional fees and $0.2 million of restructuring savings.

Interest income grew $0.1 million on higher cash balances, while interest expenses declined $0.2 million on lower borrowings. Other income increased $1.4 million primarily as a result of changes in foreign currency exchange rates.

Net income attributable to Strattec was $3.9 million, or $0.95 per diluted share, compared with $8.3 million, or $2.01 per diluted share, in the prior-year period. On an adjusted basis, fourth quarter fiscal 2026 net income attributable to Strattec was $8.4 million and adjusted diluted earnings per share1 was $2.06 unchanged from the prior year.

Adjusted EBITDA1 for the quarter was $12.5 million compared with $13.0 million in the prior-year period. Adjusted EBITDA margin of 8.3%, compared with 8.5% in the fiscal 2025 fourth quarter.

Solid Balance Sheet

Cash from operations in the fourth quarter of fiscal 2026 was $9.7 million, compared with $30.2 million in the prior-year period which benefited from a significant reduction in working capital.

At June 28, 2026, Str

EX-99.1

2 strt-ex99_1.htm

EX-99.1

EX-99.1

NEWS

RELEASE

FOR IMMEDIATE RELEASE

For Third Quarter Fiscal 2026, Strattec Continued to Advance Transformation Efforts to Strengthen Business Performance

• Strong balance sheet provides financial flexibility with $107 million of cash; $11.4 million of cash generated from operations in the third quarter

• Sales declined 4.5%, consistent with expectations, on lower North American OEM automotive production volumes of key platforms

• Gross margin improved 50 basis points year-over-year to 16.5%, despite the sales decline and 170 basis point foreign currency exchange rate headwind

• Net income attributable to Strattec was $3.2 million, or $0.78 per diluted share; Adjusted EBITDA1 was $10.1 million, or 7.3% of net sales

MILWAUKEE, WI, May 7, 2026 — Strattec (Nasdaq: STRT), a global provider of highly engineered access solutions for the automotive and mobility industries, today reported financial results for its third quarter of fiscal year 2026, which ended March 29, 2026.

Jennifer Slater, President and CEO of Strattec, said, “We are continuing to progress on our strategy to transform Strattec into a more predictable, higher performing business even as we continually face the challenges of the automotive industry including weak end market demand, platform changes, tariffs and the long-cycle nature of the sector. Our near-term objectives remain focused on improving our cost structure and driving a stronger more predictable business while positioning ourselves to win new opportunities on future platforms for model years 2029 and beyond and developing deeper relationships with both current and prospective customers.”

She concluded, “Our team is leaning into the challenges and recognizes there is still more work to be done. We are encouraged with our potential and are supported with a very solid balance sheet and strong cash generation.”

FY 2026 Third Quarter Financial Summary

Net sales were $137.6 million, down $6.5 million, or 4.5% from the prior-year period. Lower sales were the result of $7.7 million in lower volume including $3.4 million lower sales related to customer EV program cancellations. The volume declines were partially offset by $1.3 million in pricing including $0.6 million in tariff recoveries.

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

3333 WEST GOOD HOPE ROAD

MILWAUKEE, WI 53209

414.247.3333

WWW.STRATTEC.COM

NASDAQ:

STRT

For Third Quarter Fiscal 2026, Strattec Continued to Advance Transformation Efforts to Strengthen Business Performance May 7, 2026 Page 2 of 10

Gross profit was $22.7 million, compared with $23.1 million in the prior year, on lower volume. Gross margin expanded 50 basis points to 16.5% primarily as a result of $1.7 million in restructuring savings and $0.6 million of recoveries from customer program cancellations. Partially offsetting these benefits were $2.5 million higher costs related to unfavorable changes in foreign exchange rates, a $0.5 million increase in labor and benefit costs, and $0.3 million of incremental tariff costs.

Selling, administrative and engineering (“SAE”) expenses increased $1.6 million to $17.6 million, or 12.8% of sales, compared with $16.0 million, or 11.1% of sales, in the prior-year period. Elevated SAE expenses included $1.4 million in business transformation and executive transition costs, $1.3 million increase in salaries and employee benefits and $0.4 million increase in professional fees. These costs were partially offset by $0.7 million in recoveries related to customer cancelled EV programs and restructuring savings of $0.2 million.

Interest income grew $0.4 million on higher cash balances, while interest expenses declined $0.2 million on lower borrowings. Other expense increased $0.7 million primarily as a result of unfavorable foreign currency movements at the end of the reported period and related fair value adjustments to foreign currency forward contracts.

Net income attributable to Strattec was $3.2 million, or $0.78 per diluted share, compared with $5.4 million, or $1.32 per diluted share, in the prior-year period. On an adjusted basis, third quarter fiscal 2026 net income attributable to Strattec was $3.7 million and adjusted diluted earnings per share1 was $0.90, compared with $1.50 in the prior year. Lower adjusted dilutive earnings per share was primarily the result of changes in foreign currency exchange rates, which unfavorably impacted year-over-year comparisons of both cost of goods sold and other income and expense.

Adjusted EBITDA1 for the quarter was $10.1 million compared with $12.9 million in the prior-year period. Adjusted EBITDA margin of 7.3%, compared with 8.9% in the fiscal 2025 third quarter.

Strong Balance Sheet

Cash from operations in the third quarter of fiscal 2026 was $11.4 million, compared with $20.7 million in the prior-year period. Despite lowe

8-K

0000933034false00009330342026-02-052026-02-05

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): February 5, 2026

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. ☐

Item 2.02

Results of Operations and Financial Condition.

On February 5, 2026, Strattec Security Corporation (the “Company”) issued a press release (the “Press Release”) announcing results for the fiscal second quarter ended December 28, 2025. A copy of the Press Release is attached as Exhibit 99.1 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 2.02 and Exhibit 99.1 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 Exhibit 99.1 shall not be deemed to be incorporated by reference into the filings of the Company 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 February 5, 2026, the Company issued a Press Release announcing earnings results for the fiscal second quarter ended December 28, 2025. The Press Release is attached as Exhibit 99.1 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 Exhibit 99.1 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 Exhibit 99.1 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 February 5, 2026

104

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 P. Pauli Matthew P. Pauli, Senior Vice President and Chief Financial Officer

Date: February 5, 2026