Strattec Q3 sales fall 4.5% on EV program cuts; margin gains offset by rising transformation costs

Filed May 8, 2026 · Period ending March 29, 2026 · Compared to 10-Q May 9, 2025 · ~1 min read

Key Changes

• high

  OEM electric vehicle program cancellations reduced Q3 sales by $3.5 million as automakers scaled back EV production plans and product portfolios, directly impacting revenue from previously committed platforms.

  MD&A: EV program cancellations verify on EDGAR →
• high

  Gross margin improved 50 basis points to 16.5% despite 4.5% sales decline and $2.5 million FX headwind, driven by $1.7 million restructuring savings and $1.6 million productivity gains offsetting lower volumes.

  MD&A: Q3 gross margin verify on EDGAR →
• high

  Company removed detailed tariff risk disclosure from prior quarter that warned of 'significant adverse impact' from April 2025 universal tariff announcement, reverting to standard boilerplate with no explanation.

  Risk Factors verify on EDGAR →