Kewaunee Scientific Reports Results for Third Quarter of Fiscal Year 2026

Core Insights - Kewaunee Scientific Corporation reported a 3.3% increase in sales for the third quarter of fiscal year 2026, totaling $69.4 million compared to $67.2 million in the same quarter of the previous year [1][2] - The company experienced a 25.8% increase in pre-tax earnings, reaching $1.6 million, while net earnings decreased to $692,000 from $1.4 million in the prior year [1][2] - The order backlog as of January 31, 2026, was $183.2 million, down from $221.6 million a year earlier [1] Financial Performance - Domestic sales decreased by 2.0% to $50.9 million, with net earnings from the domestic segment falling to $2.3 million from $2.9 million [1][2] - International sales increased by 21.4% to $18.4 million, with net earnings rising to $1.3 million from $476,000 in the prior year [1][2] - Corporate segment reported a pre-tax net loss of $3.1 million, slightly higher than the previous year's loss of $3.0 million [1][2] Cash and Debt Position - Total cash on hand decreased to $10.3 million from $17.2 million as of April 30, 2025 [1] - Short-term debt increased to $7.4 million from $4.8 million, while long-term debt decreased to $42.3 million from $60.7 million [1] - The debt-to-equity ratio improved to 0.68-to-1 from 0.99-to-1, indicating a stronger balance sheet [1] Strategic Initiatives - The company is focusing on integrating its newly acquired subsidiary, Nu Aire, to enhance growth and EBITDA contributions [1][2] - Investments are being made in corporate infrastructure to support future growth, including strengthening the corporate team and improving financial systems [1][2] - The CEO highlighted the importance of diversification and the resilience of the laboratory products portfolio amid challenging market conditions [1][2]