Kewaunee Scientific renamed its Domestic reportable segment Lab Products Group during fiscal year 2026, while company Backlog reached $169.0 million. The change reflects expanded activities, organizational structure and strategic direction, but did not alter reportable-segment composition or previously reported financial position, results, cash flows or segment operating results.

Key Highlights

  • First-quarter sales declined 6.7% year over year to $66.32 million, while Diluted Earnings per Share fell to $0.58 from $1.04.
  • International segment net earnings rose 23.5% and segment EBITDA increased 13.9% despite lower sales.
  • Kewaunee renamed its Domestic reportable segment Lab Products Group during fiscal 2026.
  • First-quarter sales declined 6.7% to $66.32 million, while net earnings fell to $1.706 million.

Kewaunee Scientific Corporation (NASDAQ: KEQU) renamed its Domestic reportable segment Lab Products Group during fiscal year 2026, as backlog reached $169.0 million. Kewaunee said the change did not affect reportable-segment composition or previously reported financial information.

LPG Name Reflects Broader Scope

The segment name change applies to the Business previously identified as Domestic. Kewaunee said its financial position, results of operations, cash flows and segment operating results reported in earlier periods remain unchanged. The company’s first-quarter sales were $66.32 million, down 6.7% from $71.104 million in the prior-year quarter. Pre-tax earnings fell 34.7% to $2.56 million from $3.92 million, while net earnings declined to $1.706 million from $3.093 million. EBITDA was $4.525 million, compared with $6.32 million previously. Diluted earnings per share were $0.58, versus $1.04 in the prior-year quarter. The renamed LPG segment generated sales of $50.868 million, a 6.4% decrease from $54.352 million, while segment net earnings were $3.889 million compared with $4.722 million. Segment EBITDA reached $6.585 million, down from $7.576 million. Lower Manufacturing volumes affected LPG amid challenging life sciences market conditions. Kewaunee said stronger education-market activity, cost management and improved operating efficiencies supported segment profitability.

Backlog Reaches $169.0 Million

Backlog was $205.0 million on July 31, 2025. International sales fell 7.8% to $15.452 million from $16.752 million in the prior-year quarter. International segment net earnings increased 23.5%, while segment EBITDA rose 13.9%, with the improvement attributed to a more favorable mix of higher-margin projects.

Segment Reporting Stays Intact

The LPG designation changes the name of Kewaunee’s Domestic reportable segment, not the structure used to present its reportable segments. Previously reported figures therefore remain applicable under the company’s stated reporting framework. The company said quoting activity remained strong, while project award and release timelines were extended amid broader geopolitical and economic uncertainty.