0000055529-26-000009
SEC filingKewaunee Scientific Corporation reported Q3 2026 net sales of $69.4 million, generating gross profit of $18.5 million and operating profit of $2.6 million. Net earnings attributable to the company were $692 thousand. The company maintained strong operating cash flow of $13.2 million despite a net decrease in cash of $6.8 million due to investing and financing activities. Total assets stood at $176.0 million with total liabilities of $103.4 million, resulting in stockholders' equity of $72.5 million. The acquisition of Nu Aire, completed on November 1, 2024 for $55.0 million, represents a strategic expansion into complementary laboratory equipment markets, though this filing does not provide comparative period data for QoQ or YoY analysis.
Kewaunee Scientific Corporation reported Q3 2026 financial results for the period ending January 31, 2026. The company achieved net sales of $69.4 million with cost of products sold of $50.9 million, resulting in gross profit of $18.5 million. Operating expenses totaled $16.0 million, yielding operating profit of $2.6 million. After accounting for other income of $134 thousand, interest expense of $1.1 million, and income tax expense of $528 thousand, net earnings were $1.1 million. After deducting $384 thousand attributable to non-controlling interests, net earnings attributable to Kewaunee Scientific Corporation were $692 thousand. The filing does not provide comparative period data for QoQ or YoY analysis.
The filing does not provide segment breakdown, geographic mix, or specific growth drivers for Q3 2026 revenue. The document mentions the acquisition of Nu Aire, Inc., completed on November 1, 2024, for $55.0 million, which expands the company's capabilities in laboratory furnishings and technical products. Nu Aire manufactures biological safety cabinets, airflow products, CO2 incubators, ultralow freezers, animal handling equipment, pharmacy compounding isolators, and related parts and accessories. Their products serve life sciences, healthcare, pharmacy, education, food and beverage, and industrial sectors. However, no specific revenue contribution from this acquisition is disclosed in the current quarter's data.
The company reported gross margin of 26.7% ($18.5M gross profit / $69.4M net sales) and operating margin of 3.7% ($2.6M operating profit / $69.4M net sales). Operating expenses of $16.0 million represented 23.1% of net sales. Interest expense of $1.1 million reduced pre-tax profit to $1.6 million. The effective tax rate was approximately 33.0% ($528K tax expense / $1.6M pre-tax profit). No comparative margin data from prior periods is provided in the filing for trend analysis.
Operating activities generated $13.2 million in cash flow, driven by net earnings of $1.1 million adjusted for $4.7 million in depreciation and amortization, $1.6 million in stock-based compensation, and changes in working capital. Investing activities used $3.0 million, primarily for capital expenditures of $668 thousand. Financing activities used $16.4 million, including $14.8 million in short-term borrowing proceeds offset by $14.2 million in repayments and other financing activities. Free cash flow (operating cash flow minus capital expenditures) was $10.2 million. The balance sheet shows total assets of $176.0 million, including $103.6 million in current assets and $22.6 million in net property, plant and equipment. Total liabilities were $103.4 million, with $48.8 million current and $54.6 million long-term. Stockholders' equity was $72.5 million, resulting in a debt-to-equity ratio of approximately 1.43:1.
The filing does not provide specific management guidance, forward-looking statements, or updated risk factors for future periods. The document references the acquisition of Nu Aire as expanding the company's capabilities and accelerating its vision of becoming the market leader in laboratory furniture and technical products. Management concluded that disclosure controls and procedures were adequate and effective as of January 31, 2026, with no significant changes in internal controls during the quarter. The company notes that actual results could differ significantly from estimates made in the ordinary course of business, but there have been no material changes to critical accounting estimates from those described in the 2025 Annual Report.