Kewaunee Scientific (KEQU) Q4 2025 earnings summary

Executive summary

• Fiscal year 2025 sales rose 18.0% to $240.5M; Q4 sales up 36.1% year-over-year to $77.1M.

• Acquisition of Nu Aire, Inc. in November 2024 contributed to growth and incurred integration costs.

• Order backlog at April 30, 2025 was $214.6M, up from $155.6M a year earlier.

Financial highlights

• Q4 net earnings were $4.85M (down from $11.03M prior year, which included non-recurring gains); adjusted Q4 net earnings were $5.81M, up from $4.59M.

• Q4 adjusted EBITDA was $10.32M, up 64.3% year-over-year; full-year adjusted EBITDA was $26.53M, up 28.4%.

• Full-year net earnings were $11.41M (down from $18.75M prior year, which included non-recurring gains); adjusted net earnings were $15.99M, up from $12.32M.

• Diluted EPS for Q4 was $1.63 (adjusted $1.95); full-year diluted EPS was $3.83 (adjusted $5.37).

Outlook and guidance

• Management expects continued organic and inorganic growth, leveraging recent acquisition and strong backlog.

• Focus remains on product investment, manufacturing, and channel partnerships to drive future performance.