Kewaunee Scientific Posts Record $282M Revenue, Maps Fiscal 2027 Growth Investments

Kewaunee Scientific NASDAQ: KEQU reported record revenue and outlined continued investments in product development, manufacturing capacity, international expansion and potential acquisitions during its 2026 annual meeting of stockholders. President and Chief Executive Officer Thomas D. Hull III said the company generated $282 million in revenue for the fiscal year ended April 30, 2026. Hull said the result extended Kewaunee’s multiyear growth trajectory and represented a nearly 14% compound annual growth rate since fiscal 2021. EBITDA totaled $22.4 million, with Hull citing ongoing operational improvements and earnings leverage. The company’s consolidated order backlog was $165.9 million at April 30, down from $214.6 million a year earlier, primarily because several large international projects were completed and delivered during the year. Hull said Kewaunee reduced long-term debt by approximately $20 million and fully repaid the NuAire seller note. He said the company’s debt-to-equity ratio improved from 0.99x to 1.0x. During the first quarter, Kewaunee renamed its domestic reportable segment the Lab Products Group , a change Hull said better reflects the unit’s operations, organization and strategy. The renaming did not change the segment’s composition or previously reported results. Lab Products Group sales rose 19.8% to $214.9 million in fiscal 2026 from $179.4 million a year earlier. The increase primarily reflected a full year of results from NuAire, which Kewaunee acquired on Nov. 1, 2024. The segment generated EBITDA of $25.1 million, compared with $25.6 million in fiscal 2025. Hull said the year-over-year EBITDA comparison reflected NuAire integration activities, softer conditions in the life sciences market and investments intended to strengthen the combined organization as market conditions recover. International segment sales increased 9.9% to $67.1 million from $61.1 million. The increase was driven primarily by delivery of India projects that had experienced customer-site delays in the prior year. International EBITDA rose to $5.9 million from $4.5 million. Unallocated corporate costs increased to $11.2 million from $9.9 million. Hull attributed the increase to investments in public-company readiness, governance, financial systems and talent to support a larger enterprise. The Lab Products Group combines Kewaunee Scientific, NuAire, EVERHUTCH and the company’s global commercial organization. Hull said the combined platform offers laboratory casework, table systems, ventilated and containment products, healthcare storage, work surfaces and custom solutions, along with design, engineering, manufacturing, project execution, installation and service capabilities.