Key Tronic Corporation Announces Preliminary Results for the Third Quarter of Fiscal Year 2024 [Yahoo! Finance]
Key Tronic Corporation (KTCC)
Last key tronic corporation earnings: 4/28 04:01 pm
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US:NASDAQ Investor Relations:
keytronic.com/home/investor-relations
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Source: Yahoo! Finance
services (EMS), today announced its preliminary results for the three months ended March 30, 2024. For the third quarter of fiscal 2024, Key Tronic expects to report revenue of approximately $140 million, in line with revenue expectations, and a net loss of approximately ($0.18) to ($0.23) per share, which is below expectations. The lower than expected earnings are primarily a result of severance costs of approximately $3.7 million, or $0.27 per diluted share, as the Company reduced its workforce by over 450 employees in Mexico. Moreover, the severance costs were incurred late in the third quarter, which limited the previously planned payroll expense reductions anticipated in the third quarter. The workforce reduction reflects softening demand for a number of different programs with high labor content and is expected to save more than $10 million annually. Key Tronic expects production levels from Mexico-based facilities to recover in coming quarters due to recently won programs
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News
- Key Tronic Co. (NASDAQ: KTCC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Key Tronic Co. (NASDAQ: KTCC) is now covered by analysts at StockNews.com. They set a "buy" rating on the stock.MarketBeat
- Key Tronic Corporation (NASDAQ:KTCC) Q3 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Key Tronic Corporation Announces Results For the Third Quarter of Fiscal Year 2024 [Yahoo! Finance]Yahoo! Finance
- Key Tronic Corporation Announces Results For the Third Quarter of Fiscal Year 2024GlobeNewswire
KTCC
Earnings
- 5/7/24 - In-Line
KTCC
Sec Filings
- 5/14/24 - Form 10-Q
- 5/13/24 - Form 8-K
- 5/10/24 - Form 8-K
- KTCC's page on the SEC website