Welcome to our dedicated page for Kewaunee Scienti news (Ticker: KEQU), a resource for investors and traders seeking the latest updates and insights on Kewaunee Scienti stock.
Kewaunee Scientific Corporation (KEQU) delivers specialized laboratory furniture and technical workspace solutions for research, healthcare, and education sectors worldwide. This news hub provides investors and industry professionals with essential updates on the company's strategic developments, product innovations, and market leadership in scientific workspace design.
Access authoritative information including earnings announcements, facility expansions, product line enhancements, and leadership updates. Our curated collection features official press releases and verified news about KEQU's steel/wood cabinetry systems, modular laboratory installations, and international project deployments.
Key updates cover manufacturing advancements, sustainability initiatives, and partnerships driving innovation in laboratory safety and functionality. Bookmark this page for streamlined tracking of KEQU's progress in serving research institutions, healthcare networks, and technical education facilities globally.
Kewaunee Scientific announced its fiscal year and fourth quarter results for the period ending April 30, 2024. Fourth quarter sales increased by 5% to $56.7 million, with adjusted net earnings rising to $4.6 million from $1 million year-over-year. Adjusted diluted earnings per share for the quarter were $1.55, up from $0.34. For the fiscal year, sales dropped by 7.2% to $203.8 million, while adjusted net earnings surged to $12.3 million from $738,000. Adjusted EBITDA for the fiscal year was $20.7 million, up from $7.5 million. The order backlog rose to $155.6 million. The company also noted two significant non-recurring transactions: the annuitization of its pension obligations and the reversal of a valuation allowance, impacting earnings and EBITDA.
Kewaunee Scientific (NASDAQ: KEQU) announced plans to release financial results for its fourth quarter and fiscal year ended April 30, 2024, on June 26, 2024, after market close. These results will be accessible on the company's website. Founded in 1906, Kewaunee is a global leader in designing, manufacturing, and installing laboratory, healthcare, and technical furniture products. The company operates three manufacturing facilities in Statesville, North Carolina, and one in Bangalore, India, serving both domestic and international markets. Sales offices are located in the U.S., India, Saudi Arabia, and Singapore.
Kewaunee Scientific Corporation (NASDAQ: KEQU) reported a 49.7% year-over-year increase in third-quarter sales for FY 2023, reaching $60,821,000. Pre-tax earnings turned positive at $2,060,000, compared to a loss of $887,000 last year. Net earnings also improved to $723,000, reversing a net loss of $1,319,000. EBITDA climbed to $2,683,000 from a negative $117,000. The order backlog grew to $153.2 million, bolstered by a multi-year contract with Indian Oil Corporation. Domestic sales rose by 22.4%, while international sales surged by 122.4%. Cash on hand increased to $18,416,000, marking a significant rise from $6,894,000 a year prior.
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