Welcome to our dedicated page for KEY Tronic news (Ticker: KTCC), a resource for investors and traders seeking the latest updates and insights on KEY Tronic stock.
Key Tronic Corporation (Nasdaq: KTCC) is a premier electronic manufacturing service (EMS) provider, delivering high-quality manufacturing solutions to original equipment manufacturers (OEMs) in the United States and worldwide. Established as a value-added contract manufacturer, Keytronic specializes in PCB assembly, precision plastic molding, sheet metal fabrication, and complete product assembly. The company's extensive range of services includes integrated electronic and mechanical engineering, component selection, sourcing and procurement, logistics, new product testing, and full-scale production.
Key Tronic operates cutting-edge manufacturing facilities in the United States, Mexico, China, and Vietnam, which enable it to offer competitive pricing and exceptional customer service. The company's size allows it to focus on low to medium volume accounts with high flexibility requirements while providing the cost benefits typically associated with larger contract manufacturers.
Recent achievements include the successful ramp-up of new programs, such as those involving security products, medical devices, and military aerospace. For Q1 of fiscal year 2024, Keytronic reported a revenue of $147.7 million, aligned with expectations, but earnings of $0.02 per share, slightly below predictions due to unanticipated severance costs. The company anticipates increased demand for many Mexico-based programs towards the latter half of FY 2024 and expects significant new program wins to continue driving growth.
Key Tronic's financial outlook for Q2 FY 2024 includes projected revenue of $135 million to $145 million and earnings of $0.05 to $0.10 per diluted share. The company is also proactively managing its inventory levels and reducing operational expenses, aiming for streamlined production efficiency and improved gross margins.
On a leadership front, CEO Craig Gates will retire in June 2024, with Brett R. Larsen named as his successor. The company has also seen changes in its Board of Directors, including the introduction of new board members and the appointment of Ronald F. Klawitter as Chairman. These strategic shifts aim to ensure continued strong governance and sustained growth.
Key Tronic Corporation (Nasdaq: KTCC) will report its third quarter results for fiscal 2023 after market close on May 2, 2023.
The company is scheduled to host a conference call at 2:00 PM Pacific (5:00 PM Eastern) on the same day to discuss its financial performance. Interested parties can listen to the call via Key Tronic's Investor Relations page or by calling 888-394-8218 (Access Code: 9727885). A replay will also be available on their website.
Key Tronic is recognized for its contract manufacturing services across its facilities in various countries, including the United States, Mexico, China, and Vietnam, providing comprehensive engineering and manufacturing solutions for leading OEMs.
FAQ
What is the current stock price of KEY Tronic (KTCC)?
What is the market cap of KEY Tronic (KTCC)?
What services does Key Tronic Corporation offer?
Where are Key Tronic Corporation's manufacturing facilities located?
What recent financial achievements has Key Tronic Corporation reported?
Who is the current CEO of Key Tronic Corporation?
What is the revenue outlook for Key Tronic Corporation for Q2 FY 2024?
What types of products does Key Tronic manufacture?
What is Key Tronic Corporation's focus in terms of account volumes?
What changes are expected in Key Tronic Corporation's operations in Mexico?
How has Key Tronic Corporation's leadership transitioned recently?
Where can investors find more information about Key Tronic Corporation?
