Kewaunee Scientific reports Q3 EPS $1.01 vs. 93c last year

Reports Q3 revenue $47.75M vs. $50.44M last year. “Our financial performance for the second quarter of fiscal year 2025 was strong,” said CEO Thomas Hull III. “Domestic segment operating performance improved compared to last year’s second quarter as a result of higher product demand, highlighting our continued health and advantage in the market. As discussed during Q1 FY25, customer construction site delays in India on multiple projects continue to impact our ability to ship products and deliver services, leading to a decrease in sales and earnings when compared to the prior year Q2. Looking ahead, our backlog remains very healthy, demonstrating the continued vitality and investment in the markets in which Kewaunee participates and the success both Kewaunee and our channel partners continue to achieve in the marketplace. The strength of Kewaunee’s backlog positions the company well to deliver another strong year for our fiscal year. Additionally, on November 1, 2024, Kewaunee announced the acquisition of Nu Aire. Nu Aire is renowned for its manufacturing of robust containment solutions, such as biological safety cabinets, airflow products, and more, which serve a diverse range of industries. While not reflected in our Q2 FY25 results, Nu Aire will be included going forward, beginning with our Q3 FY25 results. It is worth noting the company incurred expenses related to the acquisition of $2.3M in the current fiscal year.”