Kewaunee Scientific Reports Results for First Quarter of Fiscal Year 2026

Core Insights - Kewaunee Scientific Corporation reported a strong financial performance for the first quarter of fiscal year 2026, with significant increases in sales, earnings, and EBITDA compared to the prior year [2][9]. Financial Performance - Sales for the first quarter were $71,104,000, a 46.9% increase from $48,393,000 in the same quarter last year [2]. - Pre-tax earnings rose to $3,920,000, up 61.3% from $2,430,000 in the prior year [2]. - Net earnings increased to $3,093,000 compared to $2,193,000 in the previous year [2]. - EBITDA for the quarter was $6,320,000, compared to $3,325,000 in the prior year [2]. Segment Performance - Domestic sales reached $54,352,000, a 53.0% increase from $35,523,000 in the prior year [4]. - International sales were $16,752,000, reflecting a 30.2% increase from $12,870,000 in the previous year [5]. - The domestic segment's net earnings were $4,722,000, up from $2,871,000 in the prior year [4]. - The international segment's net earnings increased to $643,000 from $463,000 in the previous year [5]. Order Backlog - The company's order backlog was $205.0 million as of July 31, 2025, compared to $159.4 million on July 31, 2024, and $214.6 million on April 30, 2025 [3]. Corporate Segment - The corporate segment reported a pre-tax net loss of $3,058,000, compared to a loss of $1,992,000 in the prior year [6]. - Corporate segment EBITDA was ($2,311,000), slightly worse than ($2,109,000) in the previous year [6]. Cash and Debt Position - Total cash on hand was $20,441,000, up from $17,164,000 on April 30, 2025 [7]. - Short-term debt decreased to $4,294,000 from $4,773,000 on April 30, 2025 [8]. - Long-term debt was $60,269,000, down from $60,730,000 on April 30, 2025 [8]. Management Commentary - The CEO noted solid performance despite challenging market conditions and indicated expectations of volatility in project delivery timelines for the remainder of fiscal year 2026 [9]. - The company is focused on both organic and inorganic growth, with strategic investments in people, processes, and technology to support future growth [9].