Kewaunee reports 34.7% drop in fiscal 2027 first-quarter pre-tax earnings

  • Kewaunee reported lower fiscal 2027 first-quarter sales and earnings.
  • $169 million was the July 31, 2026, order backlog, up from $165.9 million.
  • International segment earnings rose despite lower sales; corporate compensation expense increased.

Kewaunee Scientific Corporation reported fiscal 2027 first-quarter sales of $66.32 million, down 6.7% from the prior-year quarter, while pre-tax earnings fell 34.7% to $2.56 million. Net earnings declined to $1.706 million, or $0.58 per diluted share, from $3.093 million, or $1.04 per diluted share. Order backlog increased to $169 million as of July 31, 2026, from $165.9 million three months earlier, although it remained below $205 million a year earlier. The Lab Products Group faced lower manufacturing volumes and sales, but cost controls and operating efficiencies supported profitability. International segment net earnings and EBITDA rose despite lower sales because of a favorable mix of higher-margin projects. Corporate results included nonrecurring compensation expense tied to settling certain long-term incentive awards in cash rather than shares. President and Chief Executive Officer Thomas D. Hull III said quoting activity remained strong, while project award and release timelines were extended by geopolitical and economic uncertainty.

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