Strattec Security reported record fiscal 2026 revenue and higher profitability, as restructuring, pricing, and operational improvements helped offset automotive production volatility, foreign exchange pressure, and canceled electric-vehicle programs. President and CEO Jennifer Slater said revenue rose 2.5% to $579.4 million, while gross margin expanded 150 basis points to 16.5%. The company generated $46.3 million in operating cash flow and ended the year with $108.2 million in cash and no debt. For the fourth quarter, net sales were $151.8 million, essentially unchanged from the prior year, and adjusted net income was $8.4 million, or $2.06 per diluted share. The board authorized a new $40 million share-repurchase program, and management is prioritizing buybacks, automation, and selective acquisitions rather than reinstating a dividend. Looking ahead, Strattec expects North American vehicle production to decline about 2% in fiscal 2027, with production at Ford, Stellantis, and GM potentially falling nearly 6%, and continues to target gross margins of 18% to 20% over the next several years.
Strattec Security CorporationRecord revenue and profitability, strong cash flow, and new $40M buyback program.
