Kewaunee Scientific Corporation (KEQU)

Kewaunee Scientific Reports Results for Fiscal Year and Fourth QuarterJune 23, 2026 5:01 PM
PR Newswire (US) 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 ResultsFiscal 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 ResultsSales 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."___________________________1 EBITDA, Adjusted EBITDA, adjusted net earnings, and adjusted net earnings per share are non-GAAP financial measures. See the tables below for a reconciliation of these non-GAAP measures to the most comparable GAAP measures.EBITDA and Segment EBITDA ReconciliationQuarter Ended April 30, 2025
LPG
International
Corporate
ConsolidatedNet Earnings (Loss)
$           5,099
$           1,607
$          (1,856)
$           4,850Add/(Less):







Interest Expense
316
5
842
1,163Interest Income
—
(113)
(6)
(119)Income Taxes
1,910
825
(533)
2,202Depreciation and Amortization
1,430
103
42
1,575EBITDA
$           8,755
$           2,427
$          (1,511)
$           9,671Professional and Other Fees2
514
—
136
650Adjusted EBITDA
$           9,269
$           2,427
$          (1,375)
$          10,321








Quarter Ended April 30, 2026
LPG
International
Corporate
ConsolidatedNet Earnings (Loss)
$           3,547
$           1,483
$          (1,642)
$           3,388Add/(Less):







Interest Expense
305
12
314
631Interest Income
(2)
(116)
—
(118)Income Taxes
1,347
616
(899)
1,064Depreciation and Amortization
1,477
60
18
1,555EBITDA
$           6,674
$           2,055
$          (2,209)
$           6,520Professional and Other Fees3
—
—
22
22Adjusted EBITDA
$           6,674
$           2,055
$          (2,187)
$           6,542








Fiscal Year to Date April 30, 2025
LPG
International
Corporate
ConsolidatedNet Earnings (Loss)
$          15,370
$           2,902
$          (6,867)
$          11,405Add/(Less):







Interest Expense
1,492
71
1,651
3,214Interest Income
(1)
(550)
(416)
(967)Income Taxes
4,553
1,632
(2,983)
3,202Depreciation and Amortization
4,166
420
173
4,759EBITDA
$          25,580
$           4,475
$          (8,442)
$          21,613Professional and Other Fees2
1,526
—
3,389
4,915Adjusted EBITDA
$          27,106
$           4,475
$          (5,053)
$          26,528








Fiscal Year to Date April 30, 2026
LPG
International
Corporate
ConsolidatedNet Earnings (Loss)
$          14,156
$           4,023
$          (8,561)
$           9,618Add/(Less):







Interest Expense
1,236
51
2,575
3,862Interest Income
(6)
(544)
(54)
(604)Income Taxes
3,830
2,051
(2,613)
3,268Depreciation and Amortization
5,843
352
86
6,281EBITDA
$          25,059
$           5,933
$          (8,567)
$          22,425Professional and Other Fees3
—
—
785
785Adjusted EBITDA
$          25,059
$           5,933
$          (7,782)
$          23,210___________________________2 Professional and other fees incurred during the three months and fiscal year ended April 30, 2025 related to the acquisition of Nu Aire, Inc. ("Nu Aire"), which closed on November 1, 2024, and related purchase accounting3 Professional and other fees incurred during the three months and fiscal year ended April 30, 2026 related to the Company's integration of its newly acquired subsidiary, Nu AireAdjusted Consolidated Statement of Operations Reconciliation
Three Months EndedApril 30, 
As Reported
2026Professional
and Other
Fees4Adjusted
2026Adjusted
2025Net sales$     71,400$        —$     71,400$     77,148Cost of products sold50,155—50,15552,424Gross profit21,245—21,24524,724Operating expenses16,0292216,00714,966Operating profit5,216225,2389,758Other income (expense), net171—171(188)Interest expense(631)—(631)(1,163)Profit before income taxes4,756224,7788,407Income tax expense1,06461,0702,496Net earnings3,692163,7085,911Less: Net earnings attributable to the non-controlling interest304—30497Net earnings attributable to Kewaunee Scientific Corporation$      3,388$        16$      3,404$      5,814




Net earnings per share attributable to Kewaunee Scientific Corporation stockholders



Basic$       1.18$       0.01$       1.19$       2.04Diluted$       1.13$       0.01$       1.14$       1.95


Twelve Months EndedApril 30,
As Reported
2026Professional
and Other
Fees4Adjusted
2026Adjusted
2025Net sales$   281,999$        —$   281,999$    240,472Cost of products sold201,559—201,559170,075Gross profit80,440—80,44070,397Operating expenses63,72578562,94046,920Operating profit16,71578517,50023,477Other income, net880—880564Interest expense(3,862)—(3,862)(3,214)Profit before income taxes13,73378514,51820,827Income tax expense3,2681803,4484,657Net earnings10,46560511,07016,170Less: Net earnings attributable to the non-controlling interest847—847178Net earnings attributable to Kewaunee Scientific Corporation$      9,618$       605$     10,223$     15,992




Net earnings per share attributable to Kewaunee Scientific Corporation stockholders



Basic$       3.36$       0.21$       3.57$       5.59Diluted$       3.22$       0.20$       3.43$       5.37__________________________4 Professional and other fees incurred during the three months and fiscal year ended April 30, 2026 related to the Company's integration of its newly acquired subsidiary, Nu AireAbout 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.Kewaunee Scientific CorporationCondensed Consolidated Statements of Operations($ and shares in thousands, except per share amounts) 
Three Months Ended
April 30,
Twelve Months Ended
April 30,
2026
2025
2026
2025Net sales$     71,400
$      77,148
$    281,999
$    240,472Cost of products sold50,155
53,110
201,559
171,615Gross profit21,245
24,038
80,440
68,857Operating expenses16,029
15,538
63,725
51,098Operating profit5,216
8,500
16,715
17,759Other income (expense), net171
(188)
880
240Interest expense(631)
(1,163)
(3,862)
(3,214)Profit before income taxes4,756
7,149
13,733
14,785Income tax expense1,064
2,202
3,268
3,202Net earnings3,692
4,947
10,465
11,583Less: Net earnings attributable to the non-controlling interest304
97
847
178Net earnings attributable to Kewaunee Scientific Corporation$       3,388
$       4,850
$       9,618
$      11,405







Net earnings per share attributable to Kewaunee Scientific Corporation stockholders






Basic$        1.18
$        1.70
$        3.36
$        3.98Diluted$        1.13
$        1.63
$        3.22
$        3.83Weighted average number of common shares outstanding






Basic2,866
2,854
2,863
2,862Diluted2,995
2,981
2,983
2,979 Kewaunee Scientific CorporationCondensed Consolidated Balance Sheets($ in thousands) 
April 30, 2026
April 30, 2025Assets


Cash and cash equivalents$        9,950
$      14,942Restricted cash1,667
2,222Receivables, less allowances58,738
62,384Inventories30,533
32,849Prepaid expenses and other current assets4,509
5,966Total Current Assets105,397
118,363Net Property, Plant and Equipment22,367
23,174Right of use assets10,791
12,965Deferred income taxes3,829
3,994Intangible assets, net16,294
17,831Goodwill12,487
12,487Other assets7,146
5,840Total Assets$     178,311
$     194,654



Liabilities and Stockholders' Equity


Short-term borrowings$           74
$          986Current portion of term loans4,893
2,903Current portion of lease obligations3,845
3,371Current portion of financing liability867
788Accounts payable22,455
27,033Other Current Liabilities16,217
18,631Total Current Liabilities48,351
53,712Long-term portion of lease obligations6,569
8,946Long-term portion of financing liability25,765
26,632Long-term portion of seller note—
23,537Long-term portion of term loans14,804
10,412Other non-current liabilities6,010
5,170Total Liabilities101,499
128,409Commitments and Contingencies


Stockholders' Equity:


Kewaunee Scientific Corporation Equity74,718
64,457Non-controlling interest2,094
1,788Total Stockholders' Equity76,812
66,245Total Liabilities and Stockholders' Equity$     178,311
$     194,654 Contact:     Donald T. Gardner III
704/871-3274 View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-reports-results-for-fiscal-year-and-fourth-quarter-302808347.htmlSOURCE Kewaunee Scientific Corporation Original: Kewaunee Scientific Reports Results for Fiscal Year and Fourth Quarter

Kewaunee Scientific to Report Results for Fiscal Year and Fourth QuarterJune 10, 2026 4:02 PM
PR Newswire (US) 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.Contact:Donald T. Gardner III
704/871-3274 View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-to-report-results-for-fiscal-year-and-fourth-quarter-302797217.htmlSOURCE Kewaunee Scientific Corporation Original: Kewaunee Scientific to Report Results for Fiscal Year and Fourth Quarter

Kewaunee Scientific Corporation Appoints Jorge Santos as Vice President of International Sales, Laboratory Products GroupApril 14, 2026 4:02 PM
PR Newswire (US)

STATESVILLE, N.C., April 14, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced the appointment of Jorge Santos as VP – International Sales – Lab Products Group, further strengthening the Company's commercial leadership as it accelerates growth in key global markets. Santos joins Kewaunee as the newest member of the Company's leadership team and will report directly to President and Chief Executive Officer, Thomas D. Hull III.







"Jorge's appointment marks a significant step forward in Kewaunee's growth strategy outside of the North American market," said Thomas D. Hull III, President & Chief Executive Officer of Kewaunee Scientific Corporation. "Historically, Kewaunee's focus outside of the North American market has been primarily within the Indian, Middle East, and Asia Pacific markets, with the Indian market being our largest, most successful market outside of the United States. With the addition of Nu Aire's diverse product portfolio and world class distribution partners into the Kewaunee family, new opportunities for global expansion exist and we are well positioned to take the next step in realizing these opportunities.""Jorge is an industry veteran based in Madrid, Spain, with a proven track record of delivering high quality laboratory projects worldwide. Jorge joins Kewaunee with over two decades of international commercial and operational leadership, having guided market expansions, built several multi-national sales organizations, and developed high-performing dealer networks across more than 25 countries. His experience spans Europe, the Middle East, Latin America, and Asia, making him uniquely positioned to support and further advance Kewaunee's next phase of global growth. His leadership will help accelerate our momentum as we look to capitalize on the capabilities that the combined Kewaunee and Nu Aire portfolio bring to our global customers.""Kewaunee is uniquely equipped to bring a more complete, integrated laboratory solution to the global market," Hull added. "With Jorge's experience and established relationships across Europe, the Middle East, and Asia, our path forward will be forged by strong leadership across our global organization and a clear vision for international expansion."As Kewaunee's presence expands globally, the Company remains firmly committed to the leadership and focus that have long driven success in its core markets. Domestic sales operations for both Kewaunee and Nu Aire will continue under the leadership of Ryan Noble, Vice President of Sales & Market Development, whose driven and customer-focused approach has been instrumental in maintaining consistent execution, strong engagement, and healthy growth across the Company's key markets. Noble's deep regional expertise and close relationships with Kewaunee's customers and partners remain central to the Company's commercial success.As the Indian economy continues to represent a robust, long term growth opportunity for the Company, B. Sathyamurthy (Sathya), President of Kewaunee International Group, will continue driving Kewaunee International Group operations. Sathya has spent more than 25 years building and scaling Kewaunee's International Group, helping establish India as an essential market within the Company's global operations. "Sathya and his team have developed a market-leading turnkey capability that has resulted in a solution-focused organization capable of serving customers across multiple end markets that require specialized engineering and furnishing expertise," Hull added. "These turnkey capabilities have set the team apart from the competition and created opportunities to expand the customer base served within India, capitalizing on a rapidly growing economy with significant infrastructure investments planned over the next decade."Hull further emphasized that the Company's global expansion will continue to be built on strong, market-tailored leadership and focused investment. "We see an exciting opportunity ahead for Kewaunee on the global stage. I believe we have the strongest commercial leadership in the industry, and the addition of Jorge's experience and leadership further strengthens our organization and will help us deepen our presence in the markets where the demand for advanced laboratory environments continues to accelerate."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, Inc. (NuAire), 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, NuAire'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 NuAire 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.Contact:Donald T. Gardner III
704/871-3274



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Original: Kewaunee Scientific Corporation Appoints Jorge Santos as Vice President of International Sales, Laboratory Products Group

Kewaunee Scientific Reports Results for Third Quarter of Fiscal Year 2026March 11, 2026 4:02 PM
PR Newswire (US)

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."______________________1 EBITDA is a non-GAAP financial measure. See the table below for a reconciliation of EBITDA and segment EBITDA to net earnings (loss), the most directly comparable GAAP measure. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted Segment EBITDA Reconciliation(Unaudited)($ in thousands) Quarter Ended January 31, 2025
Domestic
International
Corporate
ConsolidatedNet Earnings (Loss)
$                  2,876
$                    476
$                (1,998)
$                  1,354Add/(Less):







Interest Expense
322
26
789
1,137Interest Income
(1)
(130)
(81)
(212)Income Taxes
638
281
(1,027)
(108)Depreciation and Amortization
1,414
107
42
1,563EBITDA
$                  5,249
$                    760
$                (2,275)
$                  3,734Professional Fees2
1,012
—
982
1,994Adjusted EBITDA
$                  6,261
$                    760
$                (1,293)
$                  5,728








Quarter Ended January 31, 2026
Domestic
International
Corporate
ConsolidatedNet Earnings (Loss)
$                  2,290
$                  1,256
$                (2,854)
$                    692Add/(Less):







Interest Expense
307
16
789
1,112Interest Income
(2)
(117)
(15)
(134)Income Taxes
22
711
(205)
528Depreciation and Amortization
1,479
97
21
1,597EBITDA
$                  4,096
$                  1,963
$                (2,264)
$                  3,795Professional & Other Fees3
—
—
189
189Adjusted EBITDA
$                  4,096
$                  1,963
$                (2,075)
$                  3,984








Year to Date January 31, 2025
Domestic
International
Corporate
ConsolidatedNet Earnings (Loss)
$                10,271
$                  1,295
$                (5,011)
$                  6,555Add/(Less):







Interest Expense
1,176
66
809
2,051Interest Income
(1)
(437)
(410)
(848)Income Taxes
2,643
807
(2,450)
1,000Depreciation and Amortization
2,736
317
131
3,184EBITDA
$                16,825
$                  2,048
$                (6,931)
$                11,942Professional & Other Fees2
1,012
—
3,253
4,265Adjusted EBITDA
$                17,837
$                  2,048
$                (3,678)
$                16,207








Year to Date January 31, 2026
Domestic
International
Corporate
ConsolidatedNet Earnings (Loss)
$                10,609
$                  2,540
$                (6,919)
$                  6,230Add/(Less):







Interest Expense
931
39
2,261
3,231Interest Income
(4)
(428)
(54)
(486)Income Taxes
2,482
1,435
(1,713)
2,204Depreciation and Amortization
4,366
292
68
4,726EBITDA
$                18,384
$                  3,878
$                (6,357)
$                15,905Professional & Other Fees3
—
—
763
763Adjusted EBITDA
$                18,384
$                  3,878
$                (5,594)
$                16,668_____________________2 Professional and other fees incurred during the three and nine months ended January 31, 2025 related to the Company's acquisition of Nu Aire, Inc. ("Nu Aire"), which closed on November 1, 20243 Professional and other fees incurred during the three and nine months ended January 31, 2026 related to the Company's integration of its newly acquired subsidiary, Nu Aire Adjusted Consolidated Statement of Operations Reconciliation(Unaudited)($ in thousands, except per share amounts)
Three Months Ended January 31,
As Reported
2026
Professional &
Other Fees4
Adjusted
2026
Adjusted
2025Net sales$      69,399
$             —
$      69,399
$      67,167Cost of products sold50,854
—
50,854
47,934Gross profit18,545
—
18,545
19,233Operating expenses15,963
189
15,774
14,469Operating profit2,582
189
2,771
4,764Other income, net134
—
134
162Interest expense(1,112)
—
(1,112)
(1,137)Profit before income taxes1,604
189
1,793
3,789Income tax (benefit) expense528
44
572
502Net earnings1,076
145
1,221
3,287Less: Net earnings attributable to the non-controlling interest384
—
384
29Net earnings attributable to Kewaunee Scientific Corporation$           692
$           145
$           837
$        3,258







Net earnings per share attributable to Kewaunee Scientific Corporation stockholders






Basic$          0.24
$          0.05
$          0.29
$          1.13Diluted$          0.23
$          0.05
$          0.28
$          1.09 
Nine Months Ended January 31,
As Reported
2026
Professional &
Other Fees4
Adjusted
2026
Adjusted
2025Net sales$    210,599
$             —
$    210,599
$    163,324Cost of products sold151,404
—
151,404
117,651Gross profit59,195
—
59,195
45,673Operating expenses47,696
763
46,933
31,954Operating profit11,499
763
12,262
13,719Other income, net709
—
709
752Interest expense(3,231)
—
(3,231)
(2,051)Profit before income taxes8,977
763
9,740
12,420Income tax (benefit) expense2,204
174
2,378
2,161Net earnings6,773
589
7,362
10,259Less: Net earnings attributable to the non-controlling interest543
—
543
81Net earnings attributable to Kewaunee Scientific Corporation$        6,230
$           589
$        6,819
$      10,178







Net earnings per share attributable to Kewaunee Scientific Corporation stockholders






Basic$          2.18
$          0.21
$          2.38
$          3.55Diluted$          2.09
$          0.20
$          2.29
$          3.42_______________________4 Professional and other fees incurred during the three and nine months ended January 31, 2026 related to the Company's integration of its newly acquired subsidiary, Nu Aire, including the estimated tax impactAbout 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.Kewaunee Scientific CorporationCondensed Consolidated Statements of Operations(Unaudited)($ and shares in thousands, except per share amounts) 
Three Months EndedJanuary 31,
Nine Months EndedJanuary 31,
2026
2025
2026
2025Net sales$       69,399
$       67,167
$    210,599
$     163,324Cost of products sold50,854
48,788
151,404
118,505Gross profit18,545
18,379
59,195
44,819Operating expenses15,963
16,129
47,696
35,560Operating profit2,582
2,250
11,499
9,259Other income, net134
162
709
428Interest expense(1,112)
(1,137)
(3,231)
(2,051)Profit before income taxes1,604
1,275
8,977
7,636Income tax  expense (benefit)528
(108)
2,204
1,000Net earnings1,076
1,383
6,773
6,636Less: Net earnings attributable to the non-controlling interest384
29
543
81Net earnings attributable to Kewaunee Scientific Corporation$            692
$         1,354
$        6,230
$         6,555







Net earnings per share attributable to Kewaunee Scientific Corporation stockholders






Basic$           0.24
$           0.47
$          2.18
$           2.29Diluted$           0.23
$           0.45
$          2.09
$           2.20Weighted average number of common shares outstanding






Basic2,866
2,872
2,861
2,864Diluted2,983
2,995
2,979
2,979   Kewaunee Scientific CorporationCondensed Consolidated Balance Sheets($ in thousands) 
January 31, 2026
April 30, 2025
(Unaudited)

Assets


Cash and cash equivalents$            8,153
$          14,942Restricted cash2,194
2,222Receivables, less allowances54,131
62,384Inventories32,907
32,849Prepaid expenses and other current assets6,193
5,966Total Current Assets103,578
118,363Net property, plant and equipment22,610
23,174Right of use assets10,449
12,965Deferred income taxes3,570
3,994Net intangible assets16,679
17,831Goodwill12,487
12,487Other assets6,588
5,840Total Assets$        175,961
$        194,654



Liabilities and Stockholders' Equity


Short-term borrowings$            1,542
$              986Current portion of lease obligations3,248
3,371Current portion of financing liability847
788Current portion of term loans4,893
2,903Accounts payable23,641
27,033Other current liabilities14,614
18,631Total Current Liabilities48,785
53,712Long-term portion of lease obligations6,796
8,946Long-term portion of financing liability25,988
26,632Long-term portion of seller note—
23,537Long-term portion of term loans16,028
10,412Other non-current liabilities5,836
5,170Total Liabilities103,433
128,409Kewaunee Scientific Corporation Equity70,675
64,457Non-controlling interest1,853
1,788Total Stockholders' Equity72,528
66,245Total Liabilities and Stockholders' Equity$        175,961
$        194,654      Contact:         Donald T. Gardner III
704/871-3274 



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Original: Kewaunee Scientific Reports Results for Third Quarter of Fiscal Year 2026

Kewaunee Scientific and Nu Aire Inc. to Attend analytica 2026 in MunichMarch 3, 2026 4:01 PM
PR Newswire (US)

STATESVILLE, N.C., March 3, 2026 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced that the Company will attend the 2026 analytica tradeshow and conference, taking place in Munich from March 24-27.







Kewaunee will be joined by the Company's recently acquired subsidiary, Nu Aire, Inc. (NuAire), a proven leader in containment and biosafety technologies. Together, they will showcase a complete and complementary portfolio of laboratory infrastructure and safety-focused solutions designed to support the needs of modern lab environments worldwide.Established in 1968, analytica is the leading global trade fair for laboratory, technology, analysis, and biotechnology. The 2026 trade show and conference is expected to bring together over 30,000 lab professionals, planners, and industry leaders to explore advances in lab innovation, performance, and sustainability.Kewaunee and NuAire will be joined at the event by ibs tecnomara, a trusted channel partner serving the European market. Together, the three organizations will highlight how coordinated infrastructure and containment solutions, local insight, and over two centuries of combined expertise can help laboratory environments advance performance, safety, and efficiency without compromise."Kewaunee's attendance at analytica 2026 represents an important opportunity to connect with global laboratory users, planners, and partners," said Thomas D. Hull III, President and CEO of Kewaunee Scientific Corporation. "Joining with NuAire and ibs tecnomara, we are excited to demonstrate the strength of our integrated solutions and our commitment to supporting amazing laboratory spaces throughout their full project lifecycle."Kewaunee, NuAire, and ibs tecnomara invite attendees to visit Booth B1.110 during the event to explore:Kewaunee's full suite of laboratory solutions, including adaptable bench systems, high-quality steel and wood casework, and energy-efficient fume hoods designed for performance.NuAire's containment technologies, including Class II biosafety cabinets and controlled environment systems that meet global safety standards.ibs tecnomara's local expertise, supporting European lab planners, end users, and builders with on-the-ground insights and knowledge.Throughout the week, team members from all three organizations will be available at Booth B1.110 to meet with attendees and provide additional insight into the solutions on display.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, Inc. (NuAire), 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, NuAire'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 NuAire 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.Contact:Donald T. Gardner III
704/871-3274



View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-and-nu-aire-inc-to-attend-analytica-2026-in-munich-302702766.htmlSOURCE Kewaunee Scientific Corporation

Original: Kewaunee Scientific and Nu Aire Inc. to Attend analytica 2026 in Munich

Earnings coming up tomorrow, I believe.

Looking better then ever IMO.

Lookin' good here bro!!

Agreed:)

As long as the executives are continuing to buy shares, I am too! I think this sees $20's in the near future....

Playing this one today.

Low floater!

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Kewaunee Scientific Corporation designs, manufactures and installs laboratory technical and laminate furniture products. Laboratory furniture products include both steel and wood cabinetry fume hoods, adaptable modular systems, moveable workstations, environmentally friendly casework, biological safety cabinets and epoxy resin counters and sinks. Technical furniture products include column systems, slotted-post systems, pedestal systems and stand-alone benches. Laminate furniture includes laminate casework, systems and related products for educational, healthcare and industrial applications.The Company operates in two business segments: Domestic Operations and International Operations.

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