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 CorporationQ1 sales fell 6.7% to $66.3M and EPS dropped to 58 cents from $1.04, with pretax earnings down 34.7%.
