Kewaunee Scientific Files Q1 2025 10-Q

TL;DR

KEQU 10-Q filed for Q1 FY25, covering period ending 07/31/24.

AI Summary

Kewaunee Scientific Corp reported its 10-Q filing for the period ending July 31, 2024. The company's fiscal year ends on April 30th. The filing covers the first quarter of their fiscal year, which began on May 1, 2024, and ended on July 31, 2024. Financial details for this specific quarter are not yet available in this header information.

Why It Matters

This filing provides an update on Kewaunee Scientific Corp's financial performance and position for the first quarter of their fiscal year 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate high-risk information.

Key Numbers

• 20240731 — Period End Date (The filing covers financial data up to this date.)
• 20240913 — Filing Date (The date the report was submitted to the SEC.)

Key Players & Entities

• KEWAUNEE SCIENTIFIC CORP (company) — Filer
• 20240731 (date) — Period of Report
• 20240913 (date) — Filed as of Date
• 28677 (dollar_amount) — Business Zip Code
• 7048737202 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $2.50 — ange on which registered Common Stock, $2.50 par value KEQU NASDAQ Global Market _

Filing Documents

• kequ-20240731.htm (10-Q) — 535KB
• certification3111.htm (EX-31.1) — 4KB
• certification3121.htm (EX-31.2) — 4KB
• exhibit3211.htm (EX-32.1) — 2KB
• exhibit3221.htm (EX-32.2) — 2KB
• certification3111001.jpg (GRAPHIC) — 138KB
• certification3121001.jpg (GRAPHIC) — 139KB
• exhibit3211001.jpg (GRAPHIC) — 85KB
• exhibit3221001.jpg (GRAPHIC) — 88KB
• 0000055529-24-000031.txt ( ) — 4725KB
• kequ-20240731.xsd (EX-101.SCH) — 37KB
• kequ-20240731_cal.xml (EX-101.CAL) — 72KB
• kequ-20240731_def.xml (EX-101.DEF) — 73KB
• kequ-20240731_lab.xml (EX-101.LAB) — 450KB
• kequ-20240731_pre.xml (EX-101.PRE) — 290KB
• kequ-20240731_htm.xml (XML) — 435KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Statements of Operations (unaudited) – Three Months Ended July 31, 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Earnings (unaudited) – Three Months Ended July 31, 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity (unaudited) – Three Months Ended July 31, 2024 and 2023 3 Condensed Consolidated Balance Sheets – July 31, 2024 (unaudited) and April 30, 2024 4 Condensed Consolidated Statements of Cash Flows (unaudited) – Three Months Ended July 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 14 Item 4.

Controls and Procedures

Controls and Procedures 14

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 5. Other Information 16 Item 6. Exhibits 17

SIGNATURES

SIGNATURES 18 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 July 31, 2024 2023 Net sales $ 48,393 $ 49,839 Cost of products sold 35,905 37,925 Gross profit 12,488 11,914 Operating expenses 9,913 8,106 Operating profit 2,575 3,808 Pension expense — ( 41 ) Other income, net 327 75 Interest expense ( 472 ) ( 430 ) Profit before income taxes 2,430 3,412 Income tax expense 192 897 Net earnings 2,238 2,515 Less: Net earnings attributable to the non-controlling interest 45 41 Net earnings attributable to Kewaunee Scientific Corporation $ 2,193 $ 2,474 Net earnings per share attributable to Kewaunee Scientific Corporation stockholders Basic $ 0.77 $ 0.87 Diluted $ 0.74 $ 0.86 Weighted average number of common shares outstanding Basic 2,849 2,860 Diluted 2,967 2,885 See accompanying notes to Condensed Consolidated Financial Statements. 1 Kewaunee Scientific Corporation Condensed Consolidated Statements of Comprehensive Earnings (Unaudited) ($ in thousands) Three Months Ended July 31, 2024 2023 Net earnings $ 2,238 $ 2,515 Other comprehensive loss, net of tax: Foreign currency translation adjustments ( 116 ) ( 144 ) Other comprehensive loss ( 116 ) ( 144 ) Comprehensive earnings, net of tax 2,122 2,371 Less: Comprehensive income attributable to the non-controlling interest 45 41 Comprehensive earnings attributable to Kewaunee Scientific Corporation $ 2,077 $ 2,330 See accompanying notes to Condensed Consolidated Financial Statements. 2 Kewaunee Scientific Corporation Condensed Consolidated Statements of Stockholders' Equity (Unaudited) ($ in thousands, except per share amounts) Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings Accumulated Other Comprehensive Loss Total Kewaunee Scientific Corporation Stockholders' Equity Balance at April

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View this 10-Q filing on SEC EDGAR