Kewaunee Scientific Corporation Reports 46.7% Revenue Growth to $70.1 Million in Latest Quarter

Kewaunee Scientific Corporation reported significant financial growth in its latest quarterly results, with net sales reaching $70.1 million for the three months ended October 31, 2025, compared to $47.8 million in the same period last year, marking a 46.7% increase. For the six-month period, sales totaled $141.2 million, up from $96.2 million, reflecting a 46.9% rise. The increase in revenue was primarily driven by the acquisition of Nu Aire, which contributed $19.4 million in revenue during the quarter. Despite the growth in sales, net earnings for the quarter decreased to $2.4 million, or $0.82 per diluted share, down from $3.0 million, or $1.01 per diluted share, in the prior year.

The company's gross profit margin for the quarter was 28.1%, slightly lower than the 29.2% margin reported in the same quarter last year. The decline in margin was attributed to the integration of Nu Aire and lower manufacturing volumes in the laboratory construction segment. Operating expenses increased to $15.6 million, or 22.3% of sales, compared to $9.5 million, or 19.9% of sales, in the prior year, largely due to higher costs associated with the Nu Aire acquisition and increased wages and benefits.

Kewaunee's order backlog stood at $192.9 million as of October 31, 2025, an increase from $184.4 million a year earlier, although it decreased from $214.6 million at the end of April 2025. The company reported a notable increase in domestic sales, which reached $55.2 million, up 51.7% from the previous year, while international sales rose by 31.0% to $14.9 million. The growth in international sales was attributed to the continued delivery of large projects booked in prior periods.

In terms of strategic developments, Kewaunee completed the acquisition of Nu Aire on November 1, 2024, for $55 million, which has expanded its product offerings in laboratory equipment. The acquisition is expected to enhance Kewaunee's market position and operational capabilities. The company has also entered into a new revolving credit facility with PNC Bank to support its liquidity needs, particularly in light of the recent acquisition. Looking ahead, Kewaunee remains focused on growth through both organic and inorganic means, with a strong backlog and ongoing investments in technology and processes to support its strategic objectives.