Kewaunee Scienti Stock Price, News & Analysis

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced a strategic shift in its sales and distribution channels on January 5, 2022. The company will now collaborate exclusively with its largest dealer partners, Nycom and ISEC, to tap into new markets and enhance operational efficiency. This change aims to improve profitability and shareholder value by reducing inefficiencies from direct sales. Nycom will cover territories in New York, New Jersey, Delaware, and Pennsylvania, while ISEC will serve Illinois, Arkansas, and Oklahoma. This move signals Kewaunee's commitment to strengthening its manufacturing capabilities.

Kewaunee Scientific Corporation (KEQU), a leader in laboratory furniture design and manufacturing, announced a significant turnkey contract with Laurus Synthesis, a subsidiary of Laurus Labs, for a greenfield laboratory project in India. This contract contributes to Kewaunee's record order backlog of $139.7 million as of October 31, 2021, up from $96.0 million a year earlier. The project will span the next eighteen months, reinforcing Kewaunee's strategic position in the international market for laboratory infrastructure.

Kewaunee Scientific Corporation (KEQU) reported its second quarter results for fiscal year 2022, showing sales of $39.03 million, similar to the previous year's $39 million. However, it faced a pre-tax loss of $2.89 million versus a loss of $362,000 last year, largely due to a $2.11 million increase in raw material costs. The net loss was $3.1 million, compared to a net loss of $180,000 in the same quarter last year. Despite challenges, the company achieved a record backlog of $139.7 million. It expects to improve financial performance as surcharges are implemented on new orders.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported its first quarter results for fiscal year 2022, ending July 31, 2021. Sales increased by 8.4% to $39.5 million, compared to $36.4 million in the prior year. However, the company faced a net loss of $1.3 million, worse than a loss of $598,000 a year earlier. The domestic segment saw a 1.3% decline in sales, while the international segment reported a 54.4% increase. The order backlog reached a record high of $120.6 million. Rising raw material costs and supply constraints significantly impacted profitability.

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced a distribution partnership with NuAire on August 11, 2021. This alliance expands Kewaunee's product offerings, providing customers access to NuAire's diverse laboratory equipment, while enhancing NuAire's reach through Kewaunee's established global distribution channels. Kewaunee's CEO, Thomas D. Hull III, highlighted the growing market for biosafety cabinets and the importance of integrated solutions for laboratory construction and modernization. The partnership aims to leverage the strengths of both companies to capture market opportunities.

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced a strategic alliance with Schneider Electric, focusing on international markets such as India and the Middle East. This partnership aims to deliver integrated solutions for laboratory design and modernization, addressing growing demands in the healthcare sector post-pandemic. Both companies will leverage their expertise to offer innovative technologies that enhance lab efficiency and sustainability. Kewaunee's position as a market leader is reinforced through this collaboration, anticipating increased demand for its services amid global health challenges.

Kewaunee Scientific Corporation (NASDAQ: KEQU) announced the launch of its new healthcare brand, EVERHUTCH, on July 8, 2021. Developed by a skilled team and tested by healthcare professionals, EVERHUTCH focuses on enhancing workspace organization for healthcare practitioners. Leveraging Kewaunee's manufacturing capabilities, the product lineup includes specialized carts and tables designed for modern healthcare and clinical lab environments. With a dedicated national distribution network, the company aims to capitalize on the projected growth in the healthcare furniture market.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported fiscal year 2021 results, revealing a net loss of $3,672,000, or ($1.33) per diluted share, an improvement from a loss of $4,687,000 in the previous year.

Fourth quarter sales increased by 13% to $38,707,000, while pre-tax losses narrowed to $950,000. The international segment saw significant growth, with sales up 72%. However, rising raw material costs impacted profitability. The company's backlog reached $114.5 million, its strongest position since 2018.

Kewaunee Scientific Corporation (NASDAQ: KEQU) reported its third-quarter fiscal results for 2021, with sales at $33.34 million, a 2.6% decrease from $34.23 million a year earlier. However, net earnings rose to $81,000 ($0.03 per diluted share), up from a loss of $1.92 million in Q3 2020. The order backlog reached $103 million, indicating strong future demand. Notably, the International segment saw a 9.9% sales increase, while the Domestic segment suffered a 6.1% decline. The company acknowledged concerns over rising raw material costs affecting margins moving forward.