KEQU

Shares of Kewaunee Scientific Corporation KEQU have declined 2.7% since the company reported its earnings for the first quarter of fiscal 2027. This compares to the S&P 500 Index’s 0.5% gain over the same time frame. Over the past month, the stock has fallen 3.2% compared with the S&P 500’s 0.7% decline. Kewaunee reported first-quarter fiscal 2027 sales of $66.3 million, down 6.7% from $71.1 million a year earlier. Earnings per share fell to 58 cents from $1.04. Net earnings attributable to Kewaunee Scientific were $1.7 million, down from $3.1 million in the prior-year quarter, while pretax earnings fell 34.7% to $2.6 million from $3.9 million. EBITDA declined to $4.5 million from $6.3 million in the prior-year quarter. Kewaunee Scientific Corporation price-consensus-eps-surprise-chart | Kewaunee Scientific Corporation Quote The Lab Products Group, or LPG, generated sales of $50.9 million, down 6.4% from $54.4 million in the year-ago quarter. LPG net earnings decreased to $3.9 million from $4.7 million, while segment EBITDA fell to $6.6 million from $7.6 million in the prior-year quarter. The International segment posted sales of $15.5 million, down 7.8% from $16.8 million. However, International net earnings increased 23.5% to $794,000, and segment EBITDA rose 13.9% to $1.2 million, reflecting a more favorable mix of higher-margin projects. Backlog was $169 million as of July 31, 2026, up from $165.9 million as of April 30, 2026, but below $205 million a year earlier. Total cash on hand was $10.3 million versus $11.6 million at fiscal year-end. Working capital was $56.7 million compared with $57 million as of April 30 and $66.7 million a year earlier. Short-term debt increased to $6.5 million from $5.9 million as of April 30, while long-term debt declined to $39.4 million from $40.9 million. Excluding the sale-leaseback financing obligation, long-term debt fell to $13.8 million from $15.1 million. The debt-to-equity ratio improved modestly to 0.59-to-1 from 0.61-to-1 at fiscal year-end. President and CEO Thomas D. Hull III said quoting activity remained strong across Kewaunee’s markets, supporting management’s confidence in underlying demand. However, project award and release timelines remained extended amid geopolitical and economic uncertainty. Management said customer activity and opportunities across the business remained healthy and emphasized a continued focus on service, operational improvement and commercial capabilities as quoting activity converts into project awards and releases. Hull also said the company was operating from a position of strength following progress made over the past several years. Management described Kewaunee as more diversified and resilient, while continuing to invest in its businesses and build capabilities intended to support longer-term growth. Lower manufacturing volumes weighed on LPG amid challenging life sciences market conditions, contributing to the segment’s sales and profit declines. Those pressures were partly mitigated by stronger education-market activity, disciplined cost management and improved operating efficiencies. International profitability moved in the opposite direction of sales because the project mix shifted toward higher-margin work. Corporate results also pressured consolidated profitability. The Corporate segment recorded a pretax loss of $3.6 million versus a $3.1 million loss a year earlier, while Corporate EBITDA was a negative $3.3 million compared with a negative $2.3 million. The increase largely reflected additional compensation expense after the company decided to settle certain long-term incentive awards in cash rather than shares to reduce shareholder dilution. Management said the incremental expense is not expected to recur. A higher effective tax rate, driven by a greater proportion of earnings from international operations relative to domestic operations, also affected results. The company reiterated that, during fiscal 2026, Kewaunee renamed its Domestic reportable segment the Lab Products Group to reflect expanded activities, organizational structure and strategic direction. The name change did not alter segment composition or previously reported financial results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kewaunee Scientific Corporation (KEQU): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

STATESVILLE, N.C., Sept. 9, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced results for its first quarter ended July 31, 2026. Fiscal Year 2027 First Quarter Highlights: Backlog increased to $169.0 million on July 31, 2026, up from $165.9 million on April 30, 2026. International segment net earnings increased 23.5% and segment EBITDA increased 13.9% despite lower sales as a result of a favorable mix of higher-margin projects. Ongoing cost management efforts and improved operating efficiencies helped mitigate the negative impact of lower manufacturing volumes within LPG. Higher effective tax rate driven by a greater mix of earnings from international operations relative to domestic operations. Long-term debt, excluding the Company's sale-leaseback financing obligation, declined to $13.8 million from $15.1 million on April 30, 2026. Corporate results included additional compensation expense associated with the decision to settle specific long-term incentive awards in cash rather than shares to reduce dilution to existing shareholders; the resulting incremental expense is not expected to recur. Fiscal Year 2027 First Quarter Results: Sales during the first quarter of fiscal year 2027 were $66,320,000, a decrease of 6.7% compared to sales of $71,104,000 from the prior year's first quarter. Pre-tax earnings for the quarter were $2,560,000 compared to $3,920,000 for the prior year quarter, a decrease of 34.7%. Net earnings were $1,706,000 compared to net earnings of $3,093,000 for the prior year quarter. EBITDA1 for the quarter was $4,525,000 compared to $6,320,000 for the prior year quarter. Diluted earnings per share were $0.58 compared to diluted earnings per share of $1.04 in the prior year quarter. The Company's order backlog increased to $169.0 million on July 31, 2026 from $165.9 million on April 30, 2026. Backlog was $205.0 million on July 31, 2025. During fiscal year 2026, the Company renamed its Domestic reportable segment to Lab Products Group ("LPG") to better align with the segment's expanded business activities, organizational structure, and strategic direction. This segment name change had no impact on the composition of the Company's reportable segments or on previously reported financial position, results of operations, cash flows, or segment operating results. Lab Products Group Segment - LPG sales for the quarter were $50,868,000, a decrease of 6.4% from sales of $54,352,000 in the prior year quarter. LPG segment net earnings were $3,889,000 compared to $4,722,000 in the prior year quarter. LPG segment EBITDA was $6,585,000 compared to $7,576,000 for the prior year quarter. Despite lower manufacturing volumes amid challenging life sciences market conditions, the segment maintained solid profitability, supported by a stronger education market, disciplined cost management, and greater operating efficiencies. International Segment - International sales for the quarter were $15,452,000, a decrease of 7.8% from sales of $16,752,000 in the prior year quarter. Despite lower sales, International segment net earnings increased 23.5% to $794,000 from $643,000 in the prior year quarter; while segment EBITDA increased 13.9% to $1,202,000 from $1,055,000. The improvement in profitability was driven by a favorable mix of higher-margin projects. Corporate Segment – Corporate segment pre-tax net loss was $3,577,000 for the quarter, as compared to a pre-tax net loss of $3,058,000 in the prior year quarter. Corporate segment EBITDA for the quarter was ($3,262,000) compared to corporate segment EBITDA of ($2,311,000) for the prior year quarter. The change primarily reflected additional compensation expense associated with a decision to settle specific long-term incentive awards in cash rather than in shares to reduce dilution to existing shareholders. The resulting incremental compensation expense is not expected to recur. Total cash on hand on July 31, 2026, was $10,261,000, as compared to $11,617,000 on April 30, 2026. Working capital was $56,716,000, as compared to $66,662,000 at the end of the first quarter last year and $57,046,000 on April 30, 2026. The Company had short-term debt of $6,478,000 as of July 31, 2026, as compared to $5,904,000 on April 30, 2026. Long-term debt was $39,377,000 on July 31, 2026, as compared to $40,851,000 on April 30, 2026. The building lease from the Company's December 2021 sale-leaseback transaction accounts for $25,533,000 of the long-term debt on July 31, 2026, and $25,765,000 of the long-term debt on April 30, 2026. Long-term debt, net of the sale-leaseback transaction, was $13,844,000 on July 31, 2026, as compared to $15,086,000 on April 30, 2026. The Company's debt-to-equity ratio on July 31, 2026, was 0.59-to-1, as compared to 0.61-to-1 on April 30, 2026. The Company's debt-to-equity ratio, net of the sale-leaseback transaction, on July 31, 2026, was 0.25-to-1, as compared to 0.26-to-1 on April 30, 2026. "I am pleased with Kewaunee's performance during the first quarter and, importantly, with the continued execution of our strategy," said Thomas D. Hull III, Kewaunee's President and Chief Executive Officer. "Quoting activity remains strong across our markets, reinforcing our confidence in the underlying demand for our products and capabilities. While project award and release timelines remain extended amid broader geopolitical and economic uncertainty, we continue to see a healthy level of customer activity and opportunity across the business." "Kewaunee continues to perform well in this environment, strengthening its competitive position and outperforming the broader market, which we believe reflects the strength of our brands, the breadth of our capabilities, and our commitment to delivering exceptional value and service to our customers," Hull continued. "At the same time, we remain disciplined and focused on the areas we can control - serving our customers, improving our operations, strengthening our commercial capabilities, and ensuring we are well positioned as quoting activity converts into project awards and releases." "As we discussed at our Annual Meeting of Shareholders in August, Kewaunee is operating from a position of strength. The progress we have made over the past several years has created a stronger, more diversified, and more resilient company, with an increasingly solid foundation for future growth. We continue to invest in our businesses, advance our strategy, and build the capabilities necessary to capture the opportunities ahead." "While we remain attentive to near-term market conditions, our focus is firmly on the long term. We are confident in Kewaunee's competitive position, encouraged by the opportunities we see across our markets, and excited about the company's next phase of growth. We believe the actions we are taking today will position Kewaunee to continue creating sustainable value for our customers, associates, and shareholders." EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA Reconciliation About Non-GAAP Measures EBITDA and Segment EBITDA are calculated as net earnings (loss), less interest expense and interest income, income taxes, depreciation, and amortization. Adjusted EBITDA and Adjusted Segment EBITDA are calculated as EBITDA or Segment EBITDA less the impact of the professional and other fees related to the Company's integration of its newly acquired subsidiary, Nu Aire, Inc. We believe EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA allow management and investors to compare our performance to other companies on a consistent basis without regard to interest expense and interest income, income taxes, depreciation, amortization or the costs incurred related to the integration of Nu Aire, Inc., which can vary significantly between companies depending upon many factors. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA are not calculations based upon generally accepted accounting principles, and the method for calculating EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA can vary among companies. The amounts included in the EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA calculations, however, are derived from amounts included in the historical consolidated statements of operations. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA should not be considered as alternatives to net earnings (loss) or operating earnings (loss) as an indicator of the Company's operating performance, or as an alternative to operating cash flows as a measure of liquidity. About Kewaunee Scientific Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's portfolio includes laboratory casework, fume hoods, adaptable modular systems, healthcare storage solutions, epoxy resin work surfaces and sinks, biological safety cabinets, and other critical containment lab furniture solutions. The Company's corporate headquarters are located in Statesville, North Carolina. Sales offices are located in the United States, India, Saudi Arabia, Spain, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local, Asian, and African markets. The Company also operates manufacturing facilities in Plymouth and Long Lake, Minnesota, and maintains warehouse partnerships in the Netherlands and OEM partnerships in China through its acquisition of Nu Aire, Inc., supporting customers around the world. Learn more at http://www.kewaunee.com. This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: competitive and general economic conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; acts of terrorism, war, governmental action, and natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 30, 2026, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-reports-results-for-first-quarter-of-fiscal-year-2027-302874272.html

Interested in Kewaunee Scientific Corporation? Here are five stocks we like better. Record fiscal 2026 performance: Kewaunee Scientific generated $282 million in revenue, nearly a 14% compound annual growth rate since fiscal 2021, and $22.4 million in EBITDA. The company also reduced long-term debt by approximately $20 million and repaid its NuAire seller note. Segment growth was mixed: Lab Products Group sales rose 19.8% to $214.9 million, helped by a full year of NuAire results, while international sales increased 9.9% to $67.1 million. Consolidated backlog declined to $165.9 million from $214.6 million after several major international projects were completed. Fiscal 2027 investment focus: Kewaunee plans to invest in product innovation, manufacturing capacity and efficiency, global expansion and disciplined acquisitions, while continuing corporate infrastructure and compliance upgrades. 3 Hot Micro-Caps On EPS Watch Kewaunee Scientific (NASDAQ:KEQU) reported record revenue and outlined continued investments in product development, manufacturing capacity, international expansion and potential acquisitions during its 2026 annual meeting of stockholders. President and Chief Executive Officer Thomas D. Hull III said the company generated $282 million in revenue for the fiscal year ended April 30, 2026. Hull said the result extended Kewaunee’s multiyear growth trajectory and represented a nearly 14% compound annual growth rate since fiscal 2021. → Boeing's $131B F-15 Win: Mach 1 Momentum or Just Altitude? EBITDA totaled $22.4 million, with Hull citing ongoing operational improvements and earnings leverage. The company’s consolidated order backlog was $165.9 million at April 30, down from $214.6 million a year earlier, primarily because several large international projects were completed and delivered during the year. Hull said Kewaunee reduced long-term debt by approximately $20 million and fully repaid the NuAire seller note. He said the company’s debt-to-equity ratio improved from 0.99x to 1.0x. → Marvell’s Big AI Test Comes One Day After NVIDIA’s Blowout Quarter During the first quarter, Kewaunee renamed its domestic reportable segment the Lab Products Group, a change Hull said better reflects the unit’s operations, organization and strategy. The renaming did not change the segment’s composition or previously reported results. Lab Products Group sales rose 19.8% to $214.9 million in fiscal 2026 from $179.4 million a year earlier. The increase primarily reflected a full year of results from NuAire, which Kewaunee acquired on Nov. 1, 2024. The segment generated EBITDA of $25.1 million, compared with $25.6 million in fiscal 2025. → Semtech Stock Rallies on Strong Q2 Results and Raised Guidance Hull said the year-over-year EBITDA comparison reflected NuAire integration activities, softer conditions in the life sciences market and investments intended to strengthen the combined organization as market conditions recover. International segment sales increased 9.9% to $67.1 million from $61.1 million. The increase was driven primarily by delivery of India projects that had experienced customer-site delays in the prior year. International EBITDA rose to $5.9 million from $4.5 million. Unallocated corporate costs increased to $11.2 million from $9.9 million. Hull attributed the increase to investments in public-company readiness, governance, financial systems and talent to support a larger enterprise. The Lab Products Group combines Kewaunee Scientific, NuAire, EVERHUTCH and the company’s global commercial organization. Hull said the combined platform offers laboratory casework, table systems, ventilated and containment products, healthcare storage, work surfaces and custom solutions, along with design, engineering, manufacturing, project execution, installation and service capabilities. Hull said Kewaunee is taking an intentional approach to expansion in new and emerging markets while working with dealers to bring the full Lab Products Group portfolio to more customers. The company appointed Jorge Santos as vice president of international sales for the Lab Products Group and Lucia Lema as director of operations for the group. Meanwhile, Kewaunee’s established international segment will concentrate on turnkey laboratory projects in India and surrounding markets. Hull said the operation manages the project lifecycle from planning and engineering through construction, installation and commissioning. During fiscal 2026, the company also advanced Sarbanes-Oxley Act Section 404(b) readiness, implemented a corporate consolidation platform, expanded accounting capabilities and planned resources for growth in key functions. Other governance work included bylaw reviews, an updated expenditure policy, expanded compliance training and preparation for a new Spanish entity to support European growth. Hull said Kewaunee plans to invest in product innovation, manufacturing efficiency and capacity, and global commercial expansion. The company also intends to pursue disciplined opportunities that complement its business, broaden capabilities, strengthen its portfolio and extend its market reach. “While uncertainty remains in the geopolitical and economic landscape, our focus remains steady and clear,” Hull said. “We will continue to execute with discipline, allocate capital thoughtfully, pursue opportunities to grow our platform, and serve our customers with excellence.” At the formal annual meeting, stockholders re-elected Hull, Chairman David S. Rhind and John D. Russell as Class I directors for terms expiring at the 2029 annual meeting. Stockholders also approved, on a preliminary basis, the ratification of Forvis Mazars LLP as the company’s independent auditor for fiscal 2027 and the advisory vote on named executive officer compensation. Kewaunee said final voting results will be filed with the Securities and Exchange Commission on Form 8-K. The company expects to release first-quarter fiscal 2027 earnings after the market closes on Sept. 9. Kewaunee Scientific Corporation (NASDAQ:KEQU) is a global designer and manufacturer of scientific laboratory furniture, casework, fume hoods, containment solutions and related equipment. With roots dating back more than a century, the company develops integrated lab environments for research facilities, universities, biopharma companies, healthcare providers and government laboratories. Its product portfolio encompasses modular and custom casework, workstations, shelving systems, steel and epoxy resin solutions, as well as advanced ventilation and water management systems. The company operates primary manufacturing facilities in Fitchburg, Wisconsin, supported by regional distribution and service centers in North America, Europe and Asia. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Kewaunee Scientific Posts Record $282M Revenue, Maps Fiscal 2027 Growth Investments" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

STATESVILLE, N.C., Aug. 25, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced that the Company plans to release its first quarter fiscal year 2027 financial results on Wednesday, September 9, 2026 after the close of trading. This information will be available on the Company's website www.kewaunee.com after the release. About Kewaunee Scientific Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's portfolio includes laboratory casework, fume hoods, adaptable modular systems, healthcare storage solutions, epoxy resin work surfaces and sinks, biological safety cabinets, and other critical containment lab furniture solutions. The Company's corporate headquarters are located in Statesville, North Carolina. Sales offices are located in the United States, India, Saudi Arabia, Spain, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local, Asian, and African markets. The Company also operates manufacturing facilities in Plymouth and Long Lake, Minnesota, and maintains warehouse partnerships in the Netherlands and OEM partnerships in China through its acquisition of Nu Aire, Inc., supporting customers around the world. Learn more at http://www.kewaunee.com. This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: our ability to realize the benefits anticipated as a result of the Nu Aire acquisition; competitive and general economic conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; acts of terrorism, war, governmental action, and natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 30, 2026, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-to-report-results-for-first-quarter-fiscal-year-2027-302859810.html

Shares of Kewaunee Scientific Corporation KEQU have declined 3.4% since reporting results for the fourth quarter of fiscal 2026. This compares with the S&P 500 index’s 1.8% fall over the same time frame. Over the past month, the stock has lost 12.1% compared with the S&P 500’s 3.8% decline. Notably, the company’s shares have underperformed the broader market over both periods following the earnings release. Kewaunee Scientific reported fourth-quarter fiscal 2026 sales of $71.4 million, down 7.5% from $77.1 million a year earlier. Net earnings attributable to the company fell to $3.4 million from $4.9 million in the prior-year quarter, while diluted earnings per share declined to $1.13 from $1.63. Pre-tax earnings dropped to $4.8 million from $7.1 million, and quarterly EBITDA decreased to $6.5 million from $9.7 million. For the full fiscal year, however, revenues increased 17.3% to $282 million from $240.5 million. Net earnings declined to $9.6 million from $11.4 million, while diluted EPS decreased to $3.22 from $3.83. Annual EBITDA improved to $22.4 million from $21.6 million despite lower earnings, reflecting continued operating cash generation. Kewaunee Scientific Corporation price-consensus-eps-surprise-chart | Kewaunee Scientific Corporation Quote Performance varied across business segments during the quarter. The renamed Lab Products Group (“LPG”) generated sales of $54.4 million, down 2% year over year from $55.5 million. Segment net earnings declined to $3.5 million from $5.1 million, while EBITDA fell to $6.7 million from $8.8 million as lower manufacturing volumes in the laboratory construction business reflected continued volatility in project delivery schedules. The company said that it continued adjusting production schedules while focusing on productivity and cost management. The International segment recorded a steeper decline, with sales falling 21.3% to $17 million from $21.7 million. Segment net earnings slipped to $1.5 million from $1.6 million, while EBITDA declined to $2.1 million from $2.4 million. Management attributed the weaker performance primarily to shipment timing for Middle East projects, wherein deliveries continued to be affected by regional geopolitical disruptions. On a full-year basis, LPG revenues rose 19.8% to $214.9 million, while International sales increased 9.9% to $67.1 million. International profitability strengthened during the year, with net earnings increasing to $4 million from $2.9 million despite geopolitical challenges. The balance sheet strengthened over the fiscal year. Long-term debt declined to $40.9 million from $60.7 million after the company repaid seller notes related to the Nu Aire acquisition, while the debt-to-equity ratio improved to 0.61-to-1 from 0.99-to-1. Cash and restricted cash totaled $11.6 million as of April 30, 2026, compared with $17.2 million a year earlier. Year-end order backlog stood at $165.9 million, including $118.8 million for LPG and $47.1 million for the International segment. President and chief executive officer Thomas D. Hull III described fiscal 2026 as an excellent year despite a challenging operating environment, highlighting the company’s ability to sustain EBITDA while advancing strategic priorities. He pointed to progress in integrating Nu Aire, continued investment in the corporate platform to support acquisitions and meaningful balance-sheet improvement through debt reduction. Hull also characterized the formation of the Lab Products Group as a milestone that combines Kewaunee and Nu Aire’s product portfolios into a broader offering for customers. Regarding the fiscal fourth quarter, Hull said that project timing continued to weigh on manufacturing volumes within the laboratory construction business, while lower international billings tied to Middle East shipment timing modestly pressured profitability. Even so, he praised the company’s global teams for navigating these headwinds. Management attributed the quarter’s weaker results primarily to operational timing rather than demand deterioration. In the Lab Products Group, lower manufacturing volumes stemming from project delivery timing reduced profitability, although productivity initiatives and cost controls remained in place. International operations were affected by shipment delays and geopolitical disruption in the Middle East that lowered billings. For the fiscal year, management cited higher input costs and tariff-related cost pressure in the laboratory construction business, partially offset by productivity improvements, disciplined cost controls and proactive production scheduling. In fiscal 2026, Kewaunee renamed its Domestic reportable segment to the Lab Products Group to better reflect its expanded business following the Nu Aire acquisition, while emphasizing that the change had no impact on reported financial results. The company also highlighted continued integration of Nu Aire, completed repayment of acquisition-related seller notes during the year and announced the addition of Jorge Santos to strengthen its international leadership team. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kewaunee Scientific Corporation (KEQU): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

STATESVILLE, N.C., June 23, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced results for its fiscal year and fourth quarter ended April 30, 2026. Fiscal Year 2026 Full Year Results Fiscal year 2026 was highlighted by strong revenue, continued progress integrating Nu Aire, and significant balance sheet improvement, despite a challenging operating environment. Sales during fiscal year 2026 were $281,999,000, an increase of 17.3% compared to sales of $240,472,000 from the prior year. Pre-tax earnings for the fiscal year were $13,733,000 compared to pre-tax earnings of $14,785,000 for the prior year. Net earnings for the fiscal year were $9,618,000, compared to net earnings of $11,405,000 for the prior year. Diluted earnings per share was $3.22, as compared to diluted earnings per share of $3.83 in the prior fiscal year. EBITDA1 for the fiscal year was $22,425,000, compared to $21,613,000 for the prior fiscal year. During fiscal year 2026, the Company renamed its Domestic reportable segment to Lab Products Group ("LPG") to better align with the segment's expanded business activities, organizational structure, and strategic direction. The segment name change had no impact on the composition of the Company's reportable segments or on previously reported financial position, results of operations, cash flows, or segment operating results. Fiscal Year Segment Results and Discussion: Lab Products Group Segment - LPG sales for the fiscal year were $214,886,000, an increase of 19.8% from sales of $179,398,000 in the prior year. LPG segment net earnings were $14,156,000 compared to $15,370,000 in the prior fiscal year. LPG segment EBITDA was $25,059,000 compared to $25,580,000 for the prior year. Lab Products Group segment results for fiscal year 2026 reflected solid execution and the perseverance of the Company's expanded domestic platform. The laboratory construction portion of the business faced challenging market conditions throughout the year, including volatility in project delivery timelines, lower manufacturing volumes during certain periods, higher input costs, and tariff-related cost pressure. These headwinds were partially mitigated by the team's continued productivity improvements, disciplined cost controls, proactive production scheduling, and further enhancement of the Company's strong operating foundation. The addition of Nu Aire also added breadth to the Company's laboratory products portfolio. The segment's performance underscores the value of the Company's broader laboratory products portfolio and its strategy to diversify revenue and earnings streams across the domestic business. International Segment - International sales for the fiscal year were $67,113,000, an increase of 9.9% from sales of $61,074,000 in the prior year. International segment net earnings were $4,023,000 compared to $2,902,000 in the prior fiscal year. International segment EBITDA was $5,933,000 compared to $4,475,000 for the prior year. International segment results for fiscal year 2026 demonstrated the resilience of the Company's international business and the strength of its project backlog. In a year marked by significant geopolitical uncertainty, including the conflict in the Middle East and its broader effects on regional business conditions, the segment delivered year-over-year growth in sales, net earnings, and EBITDA. These results were supported by disciplined project execution and excellent performance by the International team, which effectively managed through customer timing shifts, logistical complexity, and evolving market conditions. The segment's performance underscores the durability of demand for the Company's turnkey laboratory solutions across the Indian and greater Asian markets. Corporate Segment - Corporate segment net loss was ($8,561,000) for the fiscal year, as compared to ($6,867,000) in the prior fiscal year. Corporate segment EBITDA loss for the fiscal year was ($8,567,000) as compared to Corporate segment EBITDA loss of ($8,442,000) for the prior year. Corporate segment results for fiscal year 2026 reflected the Company's continued investment in the Corporate platform required to support a larger public company and execute its long-term growth strategy. Corporate segment EBITDA loss remained relatively consistent with the prior fiscal year, despite continued strategic investments in people, processes, systems, technology, compliance capabilities, and operating infrastructure. These investments are intended to strengthen the Company's scalability, support future acquisition integration, and enable continued execution of its organic and inorganic growth strategy. Consolidated Working Capital Discussion: The Company continued to strengthen its balance sheet during fiscal year 2026, reducing long-term debt by approximately $20 million and completing repayment of the Seller Notes incurred in connection with the Nu Aire acquisition. As a result, the Company's debt-to-equity ratio improved to 0.61-to-1 from 0.99-to-1 in the prior year. Total cash on hand on April 30, 2026 was $11,617,000, as compared to $17,164,000 on April 30, 2025. The decrease in cash was primarily driven by the successful completion of the Company's Seller Note Repayment in December 2025. Working capital was $57,046,000 on April 30, 2026, as compared to $64,651,000 on April 30, 2025. The Company had short-term debt of $5,904,000 as of April 30, 2026, as compared to $4,773,000 on April 30, 2025. Long-term debt was $40,851,000 on April 30, 2026, as compared to $60,730,000 on April 30, 2025. The building lease from the Company's December 2021 sale-leaseback transaction accounts for $25,765,000 of the long-term debt on April 30, 2026 and $26,632,000 of the long-term debt on April 30, 2025. Long-term debt, net of the sale-leaseback transaction, was $15,086,000 on April 30, 2026 as compared to $34,098,000 on April 30, 2025. The Company's debt-to-equity ratio, net of the sale-leaseback transaction, on April 30, 2026 was 0.26-to-1, as compared to 0.57-to-1 on April 30, 2025. The Company ended fiscal year 2026 with order backlog of $165.9 million, including $118.8 million within the Lab Products Group and $47.1 million within the International segment. Lab Products Group backlog increased from $114.9 million at January 31, 2026 and decreased compared to $123.9 million on April 30, 2025. International backlog decreased compared to $68.3 million on January 31, 2026 and $90.7 million on April 30, 2025, reflecting the timing of project shipments and awards and the cancellation of two projects in India. "Fiscal year 2026 was an excellent year for Kewaunee, particularly in light of the challenging operating environment in which it was delivered," said Thomas D. Hull III, Kewaunee's President and Chief Executive Officer. "Our team managed through these conditions effectively, maintaining a strong level of EBITDA while making meaningful progress on the strategic priorities that will support Kewaunee's next phase of growth. We continued to invest in the Corporate platform required to scale as a public company, support future acquisitions, and accelerate our organic and inorganic growth strategy. We also made significant progress integrating Nu Aire, positioning the business for improved performance as life sciences market conditions recover, while strengthening our balance sheet through the servicing and repayment of acquisition-related debt." "The launch of Kewaunee's Lab Products Group represents an important strategic milestone, combining Kewaunee and Nu Aire's world-class product portfolios into a broader and more comprehensive offering for customers," Hull continued. "We also strengthened our international leadership with the addition of Jorge Santos, further enhancing our ability to grow and serve customers globally." "As we enter fiscal 2027, Kewaunee is well positioned to continue executing its growth strategy. We remain focused on disciplined capital allocation, operational execution, and serving our customers with excellence. I believe we have the best team in the industry, and I am incredibly proud of what they accomplished this year. Their performance reinforces my confidence in Kewaunee's ability to create durable long-term value for our shareholders." Fiscal Year 2026 Fourth Quarter Results Sales during the fourth quarter of fiscal year 2026 were $71,400,000, a decrease of 7.5% compared to sales of $77,148,000 from the prior year's fourth quarter. Pre-tax earnings for the quarter were $4,756,000 compared to $7,149,000 for the prior year quarter. Net earnings for the quarter were $3,388,000 compared to net earnings of $4,850,000 for the prior year quarter. Diluted earnings per share were $1.13 compared to diluted earnings per share of $1.63 in the prior year quarter. EBITDA for the quarter was $6,520,000 compared to $9,671,000 for the prior year quarter. Fourth Quarter Segment Results and Discussion: Lab Products Group Segment - LPG sales for the quarter were $54,357,000, a decrease of 2.0% from sales of $55,490,000 in the prior year quarter. LPG segment net earnings were $3,547,000 compared to $5,099,000 in the prior year quarter. LPG segment EBITDA was $6,674,000 compared to $8,755,000 for the prior year quarter. LPG segment profitability was impacted during the fourth quarter by lower manufacturing volumes across the laboratory construction portion of the business, reflecting continued volatility in project delivery timelines. The Company continued to actively manage production schedules, productivity, and costs in response to these timing dynamics. International Segment - International sales for the quarter were $17,043,000, a decrease of 21.3% from sales of $21,658,000 in the prior year quarter. International segment net earnings were $1,483,000 compared to $1,607,000 in the prior year quarter. International segment EBITDA was $2,055,000 compared to $2,427,000 for the prior year quarter. International segment profitability was slightly lower when compared to the prior year period, driven by lower billings. The decrease was principally related to shipment timing for projects in the Middle East, where deliveries continue to be affected by regional geopolitical disruption. Corporate Segment - Corporate segment net loss was ($1,642,000) for the quarter, as compared to ($1,856,000) in the prior year quarter. Corporate segment EBITDA loss for the quarter was ($2,209,000) compared to corporate segment EBITDA loss of ($1,511,000) for the prior year quarter. Corporate segment EBITDA loss in the current year quarter reflects the Company's continued strategic investments in people, processes, and technology to further build out its Corporate platform and support it's long-term growth strategy. "We closed out the fiscal year with a solid fourth quarter," said Hull. "In our Lab Products Group segment, project timing continued to pressure manufacturing volumes in the laboratory construction portion of the business. Internationally, lower billings, particularly related to shipment timing in the Middle East, modestly pressured profitability. I am proud of the resilience and skill Kewaunee's global team showed in navigating these headwinds." EBITDA and Segment EBITDA Reconciliation Adjusted Consolidated Statement of Operations Reconciliation About Non-GAAP Measures The Company includes non-GAAP financial measures such as adjusted net earnings and adjusted net earnings per share, in the information provided with this press release as supplemental information relating to its operating results. Adjusted net earnings represents GAAP net earnings adjusted for professional and other fees related to the integration and acquisition of Nu Aire, Inc. and the corresponding tax impact in fiscal years 2026 and 2025, respectively. This financial information is not in accordance with, or an alternative for, GAAP-compliant financial information and may be different from the operating or non-GAAP financial information used by other companies. The Company believes that this presentation of adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations. EBITDA and Segment EBITDA are calculated as net earnings (loss), less interest expense and interest income, income taxes, depreciation, and amortization. Adjusted EBITDA and Adjusted Segment EBITDA are calculated as EBITDA or Segment EBITDA less the impact of the one-time costs incurred for professional and other fees related to the integration and acquisition of Nu Aire, Inc. during fiscal years 2026 or 2025, respectively, as discussed in more detail above. We believe EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA allow management and investors to compare our performance to other companies on a consistent basis without regard to depreciation and amortization or the costs incurred related to the integration and acquisition of Nu Aire, Inc. during fiscal years 2026 and 2025, respectively, which can vary significantly between companies depending upon many factors. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA are not calculations based upon generally accepted accounting principles, and the method for calculating EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA can vary among companies. The amounts included in the EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA calculations, however, are derived from amounts included in the historical consolidated statements of operations. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA should not be considered as alternatives to net earnings (loss) or operating earnings (loss) as an indicator of the Company's operating performance, or as an alternative to operating cash flows as a measure of liquidity. About Kewaunee Scientific Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's portfolio includes laboratory casework, fume hoods, adaptable modular systems, healthcare storage solutions, epoxy resin work surfaces and sinks, biological safety cabinets, and other critical containment lab furniture solutions. The Company's corporate headquarters are located in Statesville, North Carolina. Sales offices are located in the United States, India, Saudi Arabia, Spain, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local, Asian, and African markets. The Company also operates manufacturing facilities in Plymouth and Long Lake, Minnesota, and maintains warehouse partnerships in the Netherlands and OEM partnerships in China through its acquisition of Nu Aire, Inc., supporting customers around the world. Learn more at at http://www.kewaunee.com. This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: our ability to realize the benefits anticipated as a result of the Nu Aire acquisition; competitive and general economic conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; acts of terrorism, war, governmental action, and natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the most recent fiscal year ended April 30, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-reports-results-for-fiscal-year-and-fourth-quarter-302808347.html

STATESVILLE, N.C., June 10, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced that the Company plans to release financial results for its fourth quarter and fiscal year ended April 30, 2026 on Tuesday, June 23, 2026 after the close of trading. This information will be available on the Company's website www.kewaunee.com after the release. About Kewaunee Scientific Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks. The Company's corporate headquarters are located in Statesville, North Carolina. Sales offices are located in the United States, Spain, India, Saudi Arabia, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local, Asian, and African markets. Kewaunee Scientific's newly acquired subsidiary, Nu Aire, is a leading manufacturer of biological safety cabinets, CO2 incubators, ultralow freezers, and other essential laboratory products that complement the Kewaunee Scientific portfolio. Founded in 1971, Nu Aire's headquarters and manufacturing facilities are located in Plymouth, Minnesota, with additional manufacturing capabilities located in Long Lake, Minnesota. The Company also maintains a warehouse partnership in the Netherlands and OEM partnerships in China. Learn more at the companies' websites, located at http://www.kewaunee.com and http://www.nuaire.com/. This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: our ability to realize the benefits anticipated as a result of the Nu Aire acquisition; competitive and general economic conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; acts of terrorism, war, governmental action, and natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the most recent fiscal year ended April 30, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-to-report-results-for-fiscal-year-and-fourth-quarter-302797217.html

Shares of Kewaunee Scientific Corporation KEQU have declined 17.5% since reporting results for the third quarter of fiscal 2026, underperforming the S&P 500 index’s 2.2% fall over the same period. Over the past month, the stock has lost 15.7% compared with a 3.4% dip in the broader index, indicating a sharper negative market reaction to the company’s recent performance. Kewaunee reported mixed financial results for the fiscal third quarter ended Jan. 31, 2026. Net sales rose 3.3% year over year to $69.4 million from $67.2 million, reflecting modest top-line growth. However, profitability weakened significantly. Net earnings attributable to the company dropped roughly 49% to $0.7 million from $1.35 million in the prior-year period. Diluted earnings per share fell to 23 cents from 45 cents a year ago. While pre-tax earnings increased 25.8% to $1.6 million, the decline in net income suggests the impacts of higher taxes and non-controlling interests during the quarter. Kewaunee Scientific Corporation price-consensus-eps-surprise-chart | Kewaunee Scientific Corporation Quote Performance across segments was uneven. The domestic segment, which remains the largest contributor, reported sales of $51 million, down 2% year over year. Segment net earnings declined to $2.29 million from $2.88 million, with EBITDA also falling to $4.1 million from $5.2 million. The decline was attributed to lower manufacturing volumes, particularly in the laboratory construction portion of the business. In contrast, the international segment delivered strong growth. Sales increased 21.4% to $18.4 million, while net earnings surged to $1.26 million from $0.48 million. EBITDA nearly tripled to $2 million, driven primarily by higher billings in the Indian market. Order backlog, an important indicator of future revenues, stood at $183.2 million at the quarter-end, down from $221.6 million a year earlier and $214.6 million at the start of the fiscal year, signaling some softening in demand visibility. Management highlighted several external and internal factors shaping the quarterly performance. CEO Thomas D. Hull III noted that the third quarter is typically the company’s weakest due to seasonal effects, including holiday-related slowdowns and reduced construction activity during winter months. These cyclical factors were compounded by geopolitical and economic uncertainty, as well as volatility in project delivery timelines. Despite these headwinds, management emphasized that the company achieved year-over-year sales growth, underscoring resilience in its diversified portfolio. The addition of Nu Aire’s end-user containment products helped offset softness in construction-related demand, validating the company’s diversification strategy. The company also continued investing in its corporate infrastructure, including personnel and systems, to support long-term growth and integration efforts following recent acquisitions. Kewaunee’s financial position showed mixed trends. Cash and cash equivalents declined to $10.3 million from $17.2 million at the beginning of the fiscal year, reflecting ongoing investments and operational needs. On the positive side, the company made progress in deleveraging. Long-term debt declined significantly to $42.3 million from $60.7 million at the start of the fiscal year, with the debt-to-equity ratio improving to 0.68 from 0.99. Excluding lease-related obligations, leverage improved further, indicating a strengthening balance sheet. Strategic priorities include disciplined capital allocation, reinvestment in operations and pursuing complementary acquisitions to expand product offerings and geographic reach. The company also aims to accelerate debt reduction following the Nu Aire acquisition while maintaining flexibility for shareholder returns, including opportunistic share repurchases. A key development influencing recent results is the acquisition of Nu Aire, completed in November 2024. The integration of this business continues to affect financial performance, including the recognition of professional and integration-related costs during the quarter. Management indicated that Nu Aire is expected to contribute meaningfully to growth and EBITDA over time, particularly by expanding Kewaunee’s presence in containment and airflow solutions and reducing the reliance on construction-driven revenue streams. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kewaunee Scientific Corporation (KEQU): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

STATESVILLE, N.C., March 11, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced results for its third quarter ended January 31, 2026. Fiscal Year 2026 Third Quarter Results: Sales during the third quarter of fiscal year 2026 were $69,399,000, an increase of 3.3% compared to sales of $67,167,000 from the prior year's third quarter. Pre-tax earnings for the quarter were $1,604,000 compared to $1,275,000 for the prior year quarter, an increase of 25.8%. Net earnings were $692,000 compared to net earnings of $1,354,000 for the prior year quarter. EBITDA1 for the quarter was $3,795,000 compared to $3,734,000 for the prior year quarter. Diluted earnings per share were $0.23 compared to diluted earnings per share of $0.45 in the prior year quarter. The Company's order backlog was $183.2 million on January 31, 2026, as compared to $221.6 million on January 31, 2025, and $214.6 million on April 30, 2025. Domestic Segment - Domestic sales for the quarter were $50,953,000, a decrease of 2.0% from sales of $51,976,000 in the prior year quarter. Domestic segment net earnings were $2,290,000 compared to $2,876,000 in the prior year quarter. Domestic segment EBITDA was $4,096,000 compared to $5,249,000 for the prior year quarter. Segment profitability was impacted during the period by lower manufacturing volumes across the laboratory construction portion of the business. International Segment - International sales for the quarter were $18,446,000, an increase of 21.4% from sales of $15,191,000 in the prior year quarter. International segment net earnings were $1,256,000 compared to $476,000 in the prior year quarter. International segment EBITDA was $1,963,000 compared to $760,000 for the prior year quarter. International profitability increased when compared to the prior year period due to higher billings, principally in the Indian market. Corporate Segment – Corporate segment pre-tax net loss was $3,059,000 for the quarter, as compared to a pre-tax net loss of $3,025,000 in the prior year quarter. Corporate segment EBITDA for the quarter was ($2,264,000) compared to corporate segment EBITDA of ($2,275,000) for the prior year quarter. Corporate segment EBITDA remained relatively flat as the Company continues to make strategic investments in people, processes, and technology to further build out its Corporate platform and support continued growth. Total cash on hand on January 31, 2026, was $10,347,000, as compared to $17,164,000 on April 30, 2025. Working capital was $54,793,000, as compared to $58,441,000 at the end of the third quarter last year and $64,651,000 on April 30, 2025. The Company had short-term debt of $7,351,000 as of January 31, 2026, as compared to $4,773,000 on April 30, 2025. Long-term debt was $42,316,000 on January 31, 2026, as compared to $60,730,000 on April 30, 2025. The building lease from the Company's December 2021 sale-leaseback transaction accounts for $25,988,000 of the long-term debt on January 31, 2026, and $26,632,000 of the long-term debt on April 30, 2025. Long-term debt, net of the sale-leaseback transaction, was $16,328,000 on January 31, 2026, as compared to $34,098,000 on April 30, 2025. The Company's debt-to-equity ratio on January 31, 2026, was 0.68-to-1, as compared to 0.99-to-1 on April 30, 2025. The Company's debt-to-equity ratio, net of the sale-leaseback transaction, on January 31, 2026, was 0.31-to-1, as compared to 0.57-to-1 on April 30, 2025. "Following the successful turnaround of the business, we embarked on a strategy that accelerated inorganic growth, which led to the successful completion of the Company's acquisition of Nu Aire," said Thomas D. Hull III, Kewaunee's President and Chief Executive Officer. "Since then, our teams have worked diligently to integrate Nu Aire into the Kewaunee family and position the business for meaningful growth and EBITDA contribution. We have also continued to invest in our corporate platform to support the next phase of our inorganic growth strategy. These investments include strengthening our corporate team, implementing a robust financial consolidation system, and enhancing our readiness to comply with the SEC's accelerated reporting requirements." "As is traditionally the case," Hull continued, "our third quarter results often represent our softest quarter due to the impact of the holiday schedule in the United States, a general slowdown of construction schedules in the winter months, and customers looking to wrap up any construction projects before the calendar year-end. This trend was further exacerbated by significant geopolitical and economic uncertainty, and by the volatility in project delivery timelines that we have previously discussed. Although the construction-related portion of our business has been soft this fiscal year, the addition of Nu Aire's end-user containment products has helped offset that softness. This dynamic validates our growth and diversification strategy and underscores the strength and resilience of our now broader laboratory products portfolio." "I am proud of how our team has responded to a year of challenging global dynamics. That our company was still able to deliver year-over-year growth on an as-reported basis underscores the value of our strategy and our commitment to long-term value creation." About Non-GAAP Measures The Company includes non-GAAP financial measures such as adjusted net earnings and adjusted net earnings per share, in the information provided with this press release as supplemental information relating to its operating results. Adjusted net earnings represents GAAP net earnings adjusted for professional and other fees related to the integration of the Company's newly acquired subsidiary, Nu Aire, Inc., and the corresponding tax impact. This financial information is not in accordance with, or an alternative for, GAAP-compliant financial information and may be different from the operating or non-GAAP financial information used by other companies. The Company believes that this presentation of adjusted net earnings and adjusted net earnings per share provides useful information to investors regarding certain additional financial and business trends relating to its financial condition and results of operations. EBITDA and Segment EBITDA are calculated as net earnings (loss), less interest expense and interest income, income taxes, depreciation, and amortization. Adjusted EBITDA and Adjusted Segment EBITDA are calculated as EBITDA or Segment EBITDA less the impact of the professional and other fees related to the Company's integration of its newly acquired subsidiary, Nu Aire, Inc., as discussed in more detail above. We believe EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA allow management and investors to compare our performance to other companies on a consistent basis without regard to interest expense and interest income, income taxes, depreciation, amortization or the costs incurred related to the integration of Nu Aire, Inc., which can vary significantly between companies depending upon many factors. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA are not calculations based upon generally accepted accounting principles, and the method for calculating EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA can vary among companies. The amounts included in the EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA calculations, however, are derived from amounts included in the historical consolidated statements of operations. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA should not be considered as alternatives to net earnings (loss) or operating earnings (loss) as an indicator of the Company's operating performance, or as an alternative to operating cash flows as a measure of liquidity. About Kewaunee Scientific Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks. The Company's corporate headquarters are located in Statesville, North Carolina. Sales offices are located in the United States, India, Saudi Arabia, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local, Asian, and African markets. Kewaunee Scientific's newly acquired subsidiary, Nu Aire, is a leading manufacturer of biological safety cabinets, CO2 incubators, ultralow freezers, and other essential laboratory products that complement the Kewaunee Scientific portfolio. Founded in 1971, Nu Aire's headquarters and manufacturing facilities are located in Plymouth, Minnesota, with additional manufacturing capabilities located in Long Lake, Minnesota. The Company also maintains a warehouse partnership in the Netherlands and OEM partnerships in China. Learn more at the companies' websites, located at https://www.kewaunee.com and https://www.nuaire.com/. This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: our ability to realize the benefits anticipated as a result of the Nu Aire acquisition; competitive and general economic conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; acts of terrorism, war, governmental action, and natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 30, 2025, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-reports-results-for-third-quarter-of-fiscal-year-2026-302711429.html