UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ KEWAUNEE SCIENTIFIC CORPORATION (E ...

Kewaunee Scientific Reports Results for Third Quarter of Fiscal Year 2024 Exchange: NASDAQ (KEQU) Contact: Donald T. Gardner III 704/871-3274 STATESVILLE, N.C. March 6, 2024 – PRNewswire / Kewaunee Scientific Corporation (NASDAQ: KEQU) today announced results for its third quarter ended January 31, 2024. Fiscal Year 2024 Third Quarter Results: Sales during the third quarter of fiscal year 2024 were $46,778,000, a decrease of 23.1% compared to sales of $60,821,000 from the prior year's third quarter. Pre-tax ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2023 or 2700 West Front Street Statesville, North Carolina 28677-2927 (Address of principal executive offices) (Zip Code) (IRS Employer Identification No.) Registrant's telephone number, including area code: (704) 873-7202 Securities registered ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ KEWAUNEE SCIENTIFIC CORPORATION (Exac ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ FORM 10-K __________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 KEWAUNEE SCIENTIFIC CORPORATION (Exact name of reg ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 or Registrant's telephone number, including area code: (704) 873-7202 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Exchange on which registered Common Stock, $2.50 par value KEQU ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ KEWAUNEE SCIENTIFIC CORPORATION (E ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 0-5286 _________________________ Registrant's telephone number, includ ...

Sales Performance - Sales for fiscal year 2022 were $168.9 million, an increase of 14.2% from $147.5 million in fiscal year 2021[68] - Domestic sales increased to $126.9 million in fiscal year 2022, up from $111.0 million in fiscal year 2021, driven by higher volumes and price increases[68] - International sales rose to $42.0 million in fiscal year 2022, a 15.3% increase from $36.5 million in fiscal year 2021, primarily due to strong demand in India[68] - Net sales for fiscal year 2022 were $168.872 million, a 14.5% increase from $147.469 million in fiscal year 2021[104] - The company’s subsidiaries contributed net sales of $42.024 million in 2022, up from $36.434 million in 2021, an increase of 15.5%[115] - The company reported net sales of $49,715,000 in the fourth quarter of fiscal year 2022, which was an increase from $38,707,000 in the fourth quarter of fiscal year 2021, representing a growth of about 28.5%[217] Financial Losses - Net loss for fiscal year 2022 was $6.1 million, or $2.20 per diluted share, compared to a net loss of $3.7 million, or $1.33 per diluted share, in fiscal year 2021[77] - The company reported a net loss of $6.126 million for fiscal year 2022, compared to a net loss of $3.672 million in fiscal year 2021, resulting in a net loss per share of $2.20[104] - The company experienced a comprehensive loss of $6.291 million in fiscal year 2022, compared to a comprehensive income of $2.349 million in fiscal year 2021[106] - The net loss attributable to Kewaunee Scientific Corporation for fiscal year 2022 was $6,126,000, compared to a net loss of $3,672,000 in fiscal year 2021, representing a deterioration of 66.8%[215] Operating Expenses - Operating expenses increased to $26.8 million in fiscal year 2022 from $25.3 million in fiscal year 2021, representing 15.9% of sales[71] - Operating expenses increased to $26.828 million in fiscal year 2022, up from $25.309 million in fiscal year 2021[104] - The company incurred $28,000 in operating expenses related to the closure of its China subsidiary during fiscal year 2022[216] Cash Flow and Capital Expenditures - Cash used in operating activities was $7.9 million in fiscal year 2022, primarily due to increases in inventories and receivables[82] - Capital expenditures were $1.9 million in fiscal year 2022, with an anticipated increase to approximately $3.5 million in fiscal year 2023[87] - Capital expenditures for the year were $1.908 million, down from $2.397 million in 2021, reflecting a decrease of 20.4%[112] Tax and Deferred Tax - Income tax expense for fiscal year 2022 was $3.5 million, significantly higher than $990,000 in fiscal year 2021, reflecting changes in deferred taxes[75] - The Company recorded a net income tax expense of $3,518,000 for the year ended April 30, 2022, compared to $990,000 for the previous year[185] - Deferred tax assets increased to $11,462,000 in 2022 from $5,754,000 in 2021, primarily due to the inclusion of proceeds on Sale Leaseback[186] Assets and Liabilities - Total assets increased to $118.773 million in 2022 from $89.384 million in 2021, representing a growth of 32.8%[111] - Current assets rose to $91.565 million in 2022, up from $60.457 million in 2021, marking an increase of 51.5%[111] - Total liabilities increased to $82.593 million in 2022 from $47.897 million in 2021, a rise of 72.5%[111] - Working capital increased to $49.3 million as of April 30, 2022, up from $26.3 million a year earlier, with a current assets to current liabilities ratio of 2.2-to-1.0[88] Inventory and Receivables - Accounts receivable increased to $41.254 million in 2022 from $32.882 million in 2021, reflecting a rise of 25.5%[111] - Inventories grew significantly to $23.796 million in 2022, compared to $16.517 million in 2021, an increase of 43.9%[111] - Total inventories increased to $23.796 million in 2022 from $16.517 million in 2021, with finished goods rising from $2.988 million to $4.555 million[163] Strategic Focus and Future Outlook - The company believes its record backlog and improved operating performance position it well for the next fiscal year despite economic uncertainties[92] - The company is focused on changes in its go-to-market strategy and continued investment in manufacturing operations to enhance future performance[92] Stock and Compensation - The Company granted 67,750 RSUs in fiscal year 2022, compared to 95,861 RSUs in fiscal year 2021[145] - The Company recorded stock-based compensation expense of $701,000 in fiscal year 2022, an increase from $578,000 in fiscal year 2021[191] - The Company had 144,827 RSUs outstanding at the end of fiscal year 2022, with a weighted average grant date fair value of $12.24[193] Pension and Lease Obligations - The total minimum lease payments for operating leases are projected to be $8,821,000 for the fiscal year ending April 30, 2023[202] - The total operating lease expense for the fiscal year ended April 30, 2022, was $3,067,000, up from $2,854,000 in 2021[200] - The Company expects no contributions to the pension plans during fiscal year 2023, having made $30,000 in contributions in fiscal year 2021[206]

Sales Performance - Sales for the quarter were $40,633,000, an increase of 21.8% from $33,339,000 in the comparable period of the prior year [55]. - Domestic sales for the quarter were $29,531,000, up 17.8% from $25,066,000 in the comparable period of the prior year, positively impacted by $2,956,000 of raw material surcharges [55]. - International sales for the quarter were $11,102,000, up 34.2% from $8,273,000 in the comparable period of the prior year, driven by strong demand and delayed billings [55]. Profitability and Expenses - The gross profit margin for the three months ended January 31, 2022 was 13.8%, down from 17.0% in the comparable quarter of the prior year, due to supply chain disruptions and increased raw material costs [58]. - Operating expenses for the three months ended January 31, 2022 were $6,490,000, or 16.0% of sales, compared to $6,030,000, or 18.1% of sales in the prior year [59]. - Net loss for the three months ended January 31, 2022 was $1,319,000, or $(0.47) per diluted share, compared to net earnings of $81,000, or $0.03 per diluted share in the prior year [64]. Order Backlog and Working Capital - The Company's order backlog was $138.1 million at January 31, 2022, compared to $103.0 million at January 31, 2021 [57]. - The Company had working capital of $21,412,000 at January 31, 2022, down from $26,276,000 at April 30, 2021 [66]. Future Outlook - The Company expects improved financial performance through the remainder of this fiscal year and into fiscal year 2023, driven by project awards and manufacturing capacity expansion [72]. - The Company continues to monitor the impact of COVID-19 and its potential effects on operations and financial performance [69].