Company: KEQU
Filing Date: 2025-12-12
Form Type: 10-Q
Source: 0000055529-25-000054
Chunk: 36

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-12-12
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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31.0% when compared to sales of $11,355,000 in the comparable period of the prior year. International sales increased when compared to the prior year period due to the continued delivery of large projects booked in prior periods, a trend that continues from the Company's first quarter fiscal year 2026 results.

Sales for the six months ended October 31, 2025 were $141,200,000, an increase from sales of $96,157,000 in the comparable period of the prior year. Domestic sales for the period were $109,576,000, up 52.3% from sales of $71,932,000 in the comparable period of the prior year. The increase in Domestic sales was due to the acquisition of Nu Aire, as discussed above, which was not part of the prior year comparable results. International sales for the period were $31,624,000, up 30.5% from sales of $24,225,000 in the comparable period of the prior year. The increase in International sales was primarily driven by the continued delivery of large projects booked in prior periods, as noted above.

The Company's order backlog was $192.9 million at October 31, 2025, as compared to $184.4 million at October 31, 2024, and $214.6 million at April 30, 2025.

The gross profit margin for the three months ended October 31, 2025 was 28.1% of sales, as compared to 29.2% of sales in the comparable quarter of the prior year. The gross profit margin for the six months ended October 31, 2025 was 28.8% of sales, as compared to 27.5% of sales in the comparable period of the prior year. The change in gross profit margin percentage for the three and six months ended October 31, 2025 was primarily driven by the acquisition of Nu Aire on November 1, 2024. Additionally, domestic segment profitability in the three months ended October 31, 2025 was also impacted by lower manufacturing volumes and reduced productivity across the laboratory construction portion of the business, offset by strength in the end-user containment portion of the business.

Operating expenses for the three months ended October 31, 2025 were $15,613,000, or 22.3% of sales, as compared to $9,518,000, or 19.9% of