Kewaunee Scientific Surges on 47% Q1 Revenue Growth
The laboratory furniture maker's strong quarterly performance is fueled by the recent acquisition of NuAire and robust international sales.
Kewaunee Scientific (NASDAQ: KEQU) reported a stellar first quarter for fiscal year 2026, with revenue jumping an impressive 46.9% year-over-year to $71.1 million. The strong performance, which sent the company's stock higher in after-hours trading, was largely driven by the successful integration of its recent acquisition of NuAire, a Minneapolis-based manufacturer of laboratory equipment.
The acquisition of NuAire for $55 million, which closed in late 2024, has significantly expanded Kewaunee's product portfolio and market reach, particularly in the life sciences and healthcare sectors. is already paying dividends, contributing to a 53% increase in domestic sales and a 30.2% rise in international sales during the quarter.
Beyond the headline revenue figure, Kewaunee's profitability also saw a substantial boost. The company reported a 41% increase in net profit, reaching $3.1 million, while diluted earnings per share (EPS) grew by 40.5% to $1.04. The company's adjusted EBITDA, a key measure of profitability, surged by 61.5% to $6.5 million, reflecting improved operational efficiency and higher gross margins.
Investors are also likely to be encouraged by the company's growing backlog of orders, which stood at $205.0 million at the end of the quarter. This represents a 28.6% increase from the previous year, signaling strong demand for Kewaunee's products and a positive outlook for future revenue. The impressive results were detailed in the , which highlighted the broad-based strength across its business segments.
The strong financial performance underscores Kewaunee's successful execution of its growth strategy, with the NuAire acquisition proving to be a key catalyst. As the company continues to integrate its new assets and capitalize on growing demand in the laboratory and healthcare markets, Kewaunee Scientific is well-positioned for sustained growth in the quarters ahead. Further details on the company's financial performance can be found in its .