Kewaunee Scientific Corporation (KEQU) reported a 1.3% decline in shares following its second quarter results for fiscal 2026, while the S&P 500 rose by 0.7%. For the quarter ending October 31, 2025, net sales reached $70.1 million, up 46.8% from $47.8 million year-over-year. However, net earnings fell to $2.4 million from $3 million in the same period, with diluted earnings per share at 82 cents compared to $1.01 a year earlier.
The order backlog as of October 31, 2025 stood at $192.9 million, an increase from $184.4 million a year prior but down from $214.6 million at fiscal year-end. Domestic sales grew by 51.7% to $55.2 million, boosted by the acquisition of Nu Aire, Inc., though domestic net earnings dropped to $3.6 million. In contrast, international sales rose by 31% to $14.9 million, contributing positively to EBITDA, which increased to $5.8 million.
Management noted ongoing volatility in project delivery but sustained demand into fiscal 2027, citing current quoting activity. The company’s total cash on hand as of October 31, 2025, was $13.7 million, with long-term debt declining to $58.2 million, highlighting a gradual strengthening of the balance sheet.
