Strattec Security (NASDAQ:STRT) Second Quarter 2023 Results
Key Financial Results
Revenue: US$113.2m (flat on 2Q 2022).
Net loss: US$1.84m (down by 154% from US$3.39m profit in 2Q 2022).
US$0.47 loss per share (down from US$0.88 profit in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Strattec Security Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Auto Components industry in the US.
Performance of the American Auto Components industry.
The company's shares are down 6.1% from a week ago.
It is worth noting though that we have found 2 warning signs for Strattec Security that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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