Kewaunee Scientific Corp. Files 10-Q for Period Ending January 31, 2024

Ticker: KEQU · Form: 10-Q · Filed: Mar 8, 2024 · CIK: 55529

Kewaunee Scientific CORP /De/ 10-Q Filing Summary
FieldDetail
CompanyKewaunee Scientific CORP /De/ (KEQU)
Form Type10-Q
Filed DateMar 8, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$2.50
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, Kewaunee Scientific, Financial Report, Laboratory Furniture, Q3 Earnings

TL;DR

<b>Kewaunee Scientific Corp. filed its Q3 2024 10-Q, detailing financial performance and corporate information.</b>

AI Summary

KEWAUNEE SCIENTIFIC CORP /DE/ (KEQU) filed a Quarterly Report (10-Q) with the SEC on March 8, 2024. Kewaunee Scientific Corp. filed a 10-Q report for the period ending January 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on April 30th. Kewaunee Scientific Corp. is incorporated in Delaware. The company's principal business is Laboratory Apparatus & Furniture.

Why It Matters

For investors and stakeholders tracking KEWAUNEE SCIENTIFIC CORP /DE/, this filing contains several important signals. This filing provides investors with the latest financial snapshot of Kewaunee Scientific Corp., crucial for understanding its current operational health and market position. As a public company, Kewaunee Scientific Corp. is required to disclose its financial performance quarterly, offering transparency to stakeholders.

Risk Assessment

Risk Level: low — KEWAUNEE SCIENTIFIC CORP /DE/ shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess Kewaunee Scientific Corp.'s revenue trends, profitability, and balance sheet strength.

Key Numbers

Key Players & Entities

FAQ

When did KEWAUNEE SCIENTIFIC CORP /DE/ file this 10-Q?

KEWAUNEE SCIENTIFIC CORP /DE/ filed this Quarterly Report (10-Q) with the SEC on March 8, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by KEWAUNEE SCIENTIFIC CORP /DE/ (KEQU).

Where can I read the original 10-Q filing from KEWAUNEE SCIENTIFIC CORP /DE/?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by KEWAUNEE SCIENTIFIC CORP /DE/.

What are the key takeaways from KEWAUNEE SCIENTIFIC CORP /DE/'s 10-Q?

KEWAUNEE SCIENTIFIC CORP /DE/ filed this 10-Q on March 8, 2024. Key takeaways: Kewaunee Scientific Corp. filed a 10-Q report for the period ending January 31, 2024.. The filing covers the third quarter of fiscal year 2024.. The company's fiscal year ends on April 30th..

Is KEWAUNEE SCIENTIFIC CORP /DE/ a risky investment based on this filing?

Based on this 10-Q, KEWAUNEE SCIENTIFIC CORP /DE/ presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

What should investors do after reading KEWAUNEE SCIENTIFIC CORP /DE/'s 10-Q?

Review the detailed financial statements within the 10-Q to assess Kewaunee Scientific Corp.'s revenue trends, profitability, and balance sheet strength. The overall sentiment from this filing is neutral.

How does KEWAUNEE SCIENTIFIC CORP /DE/ compare to its industry peers?

Kewaunee Scientific Corp. operates in the Laboratory Apparatus & Furniture industry, providing specialized equipment for scientific and industrial environments.

Are there regulatory concerns for KEWAUNEE SCIENTIFIC CORP /DE/?

As a publicly traded company, Kewaunee Scientific Corp. is subject to SEC regulations requiring regular financial disclosures.

Industry Context

Kewaunee Scientific Corp. operates in the Laboratory Apparatus & Furniture industry, providing specialized equipment for scientific and industrial environments.

Regulatory Implications

As a publicly traded company, Kewaunee Scientific Corp. is subject to SEC regulations requiring regular financial disclosures.

What Investors Should Do

  1. Analyze the revenue and net income figures for the reported quarter and compare them to prior periods.
  2. Examine the balance sheet for changes in assets, liabilities, and equity.
  3. Review any management discussion and analysis (MD&A) sections for insights into business performance and outlook.

Year-Over-Year Comparison

This is the initial filing data provided for the 10-Q report ending January 31, 2024. Comparative data from previous filings is not yet available in this extract.

Filing Stats: 4,747 words · 19 min read · ~16 pages · Grade level 16.6 · Accepted 2024-03-08 11:10:54

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Statements of Operations (unaudited) – Three and Nine Months Ended January 31, 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Earnings (Loss) (unaudited) – Three and Nine Months Ended January 31, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity (unaudited) – Three and Nine Months Ended January 31, 2024 and 2023 3 Condensed Consolidated Balance Sheets – January 31, 2024 (unaudited) and April 30, 2023 4 Condensed Consolidated Statements of Cash Flows (unaudited) – Nine Months Ended January 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements (unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 5. Other Information 17 Item 6. Exhibits 18

SIGNATURES

SIGNATURES 19 i Part 1. Financial Information

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Kewaunee Scientific Corporation Condensed Consolidated Statements of Operations (Unaudited) ($ and shares in thousands, except per share amounts) Three Months Ended January 31, Nine Months Ended January 31, 2024 2023 2024 2023 Net sales $ 46,778 $ 60,821 $ 147,053 $ 165,508 Cost of products sold 34,749 50,491 109,642 140,281 Gross profit 12,029 10,330 37,411 25,227 Operating expenses 8,223 8,026 24,688 22,564 Operating profit 3,806 2,304 12,723 2,663 Pension expense ( 41 ) ( 18 ) ( 122 ) ( 53 ) Other income, net 161 210 384 756 Interest expense ( 411 ) ( 436 ) ( 1,213 ) ( 1,190 ) Profit before income taxes 3,515 2,060 11,772 2,176 Income tax expense 982 962 3,894 1,911 Net earnings 2,533 1,098 7,878 265 Less: Net earnings attributable to the non-controlling interest 12 375 151 532 Net earnings (loss) attributable to Kewaunee Scientific Corporation $ 2,521 $ 723 $ 7,727 $ ( 267 ) Net earnings (loss) per share attributable to Kewaunee Scientific Corporation stockholders Basic $ 0.87 $ 0.26 $ 2.68 $ ( 0.09 ) Diluted $ 0.85 $ 0.25 $ 2.64 $ ( 0.09 ) Weighted average number of common shares outstanding Basic 2,893 2,830 2,885 2,822 Diluted 2,965 2,911 2,927 2,822 See accompanying notes to Condensed Consolidated Financial Statements. 1 Kewaunee Scientific Corporation Condensed Consolidated Statements of Comprehensive Earnings (Loss) (Unaudited) ($ in thousands) Three Months Ended January 31, Nine Months Ended January 31, 2024 2023 2024 2023 Net earnings $ 2,533 $ 1,098 $ 7,878 $ 265 Other comprehensive loss, net of tax: Foreign currency translation adjustments ( 40 ) ( 106 ) ( 435 ) ( 567 ) Other comprehensive loss ( 40 ) ( 106 ) ( 435 ) ( 567 ) Comprehensive earnings (loss), net of tax 2,493 992 7,443 ( 302 ) Less: Comprehensive income attributable to the non-controlling interest 12 375 151 532 Comprehensive earnings (loss) attributable to Kewaunee Scientific Corporation $ 2,

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