Kewaunee Scientific Corporation

Kewaunee Scientific reported first-quarter fiscal 2027 sales of $66.3 million, down 6.7% from $71.1 million a year earlier, with earnings per share falling 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 and EBITDA declined to $4.5 million from $6.3 million. Within the results, the Lab Products Group generated sales of $50.9 million, down 6.4% from $54.4 million, with segment net earnings of $3.9 million and segment EBITDA of $6.6 million, while the International segment posted sales of $15.5 million, down 7.8% from $16.8 million, though its net earnings rose 23.5% to $794,000 and segment EBITDA rose 13.9% to $1.2 million on a more favorable mix of higher-margin projects. Backlog stood at $169 million as of July 31, 2026, up from $165.9 million as of April 30, 2026, but below $205 million a year earlier, and total cash on hand was $10.3 million versus $11.6 million at fiscal year-end. President and CEO Thomas D. Hull III said quoting activity remained strong across Kewaunee's markets, but project award and release timelines remained extended amid geopolitical and economic uncertainty, and the company said additional compensation expense from settling certain long-term incentive awards in cash rather than shares, which it does not expect to recur, along with a higher effective tax rate, weighed on consolidated profitability.

Kewaunee Scientific reported fourth-quarter fiscal 2026 sales of $71.4 million, down 7.5% from $77.1 million a year earlier, as project timing weighed on results. Net earnings fell to $3.4 million from $4.9 million, with diluted earnings per share declining to $1.13 from $1.63. The Lab Products Group, one of two reportable segments, posted sales of $54.4 million, down 2% year over year, while the International segment saw a steeper 21.3% decline to $17 million, primarily due to shipment timing for Middle East projects. For the full fiscal year, however, revenues rose 17.3% to $282 million, and the company highlighted a strengthened balance sheet with long-term debt reduced to $40.9 million from $60.7 million. CEO Thomas D. Hull III described fiscal 2026 as an excellent year despite a challenging operating environment, citing progress in integrating Nu Aire and meaningful debt reduction.