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 (NASDAQ: KEQU) is a manufacturing company specializing in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. This news page aggregates company announcements, earnings releases, and other disclosures so readers can follow developments that affect KEQU stock and Kewaunee’s operations.
Recent news has focused on quarterly and annual financial results, where Kewaunee reports performance for its domestic, international, and corporate segments and discusses trends in sales, profitability, and order backlog. The company also provides updates on non-GAAP metrics such as EBITDA, Segment EBITDA, Adjusted EBITDA, and adjusted net earnings, including the impact of acquisition and integration costs related to NuAire.
Investors and observers can also find coverage of capital structure and financing actions, including debt refinancing, early repayment of seller notes associated with the NuAire acquisition, and amendments to loan agreements. In addition, Kewaunee issues news about share repurchase program amendments and its approach to capital allocation.
Corporate governance and strategic matters appear in items such as board appointments, proxy-related communications, and disclosures about strategic investments in people, processes, and technology at the corporate level. Operational and commercial updates include participation in industry events like the Arablab Live trade show and information about Kewaunee’s global footprint, including its manufacturing facilities in Statesville, North Carolina and Bangalore, India and its sales offices in multiple countries.
By reviewing the KEQU news feed on this page, readers can track how Kewaunee communicates about its financial performance, acquisitions, international activities, and corporate initiatives over time.
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.
Kewaunee Scientific Corporation (NASDAQ: KEQU) announced that its Kewaunee International Group received the 'Customer Centricity' award from the Confederation of Indian Industry (CII) on December 15, 2020. This recognition underscores the company's commitment to customer service, especially during the challenges posed by the COVID-19 pandemic. Executives highlighted the award's significance, reflecting Kewaunee's dedication to delivering exceptional customer experiences. The assessment for this award was based on a structured evaluation by CII judges, aligning with excellence frameworks.
Kewaunee Scientific Corporation (NASDAQ: KEQU) reported second quarter fiscal 2021 results, with sales of $39 million, a 1.8% decrease year-over-year. The company experienced a pre-tax loss of $362,000 compared to $158,000 last year, while net losses improved to $180,000 or ($0.07) per diluted share, a significant reduction from the previous year’s loss of $2.18 million. Domestic segment sales fell 8.9% to $28.77 million, but the international segment saw a 25.7% increase to $10.23 million. Corporate expenses rose 24.1%, impacting overall profitability.
Kewaunee Scientific Corporation (Nasdaq: KEQU) will release its second-quarter fiscal year 2021 financial results on December 9, 2020, after trading hours. This announcement follows a decision to stop issuing financial results via press releases, with all future updates available on their investor relations website. Founded in 1906, Kewaunee Scientific specializes in designing and manufacturing laboratory and healthcare furniture, with multiple facilities in the U.S. and India.