#United States #Nu Aire #KEQU #Statesville #Kewaunee Scientific

Kewaunee Scientific Strengthens Its Share Repurchase Program

Kewaunee Scientific Corporation (NASDAQ: KEQU), a leader in laboratory and healthcare solutions, has announced an important amendment to its existing share repurchase program. This change, which took place on March 12, 2025, reflects the company's strategic approach to capitalize on market opportunities while ensuring value for its shareholders.

The Board of Directors approved the purchase of an additional 100,000 shares of Kewaunee's common stock. This amendment is particularly significant as it allows the program to continue indefinitely, without a specified expiration date. As of the amendment announcement, there were still 11,176 shares authorized from the previous program that remain eligible for repurchase. This flexibility allows Kewaunee to adapt its repurchase strategy based on market conditions and the company's financial position.

The company has outlined that share repurchases will be made at the discretion of its management team. This decision will rely on several factors including the company's capital needs, the stock's market price, and the current economic climate. The shares can be acquired through various methods such as open-market transactions, block trades, or other methods that align with the company's financial strategy.

Thomas D. Hull III, President and CEO of Kewaunee, stated, "Our capital allocation strategy includes repurchasing stock under certain conditions when management believes it will generate value. After reaching the maximum repurchase limit set by our previous credit agreement between October 2023 and April 2024, we paused to focus on our acquisition of Nu Aire, Inc., completed on November 1, 2024. We are enthusiastic about the Company's strategic direction, and we resumed share repurchases on February 28, 2025. We intend to continue these efforts as the conditions remain favorable."

Kewaunee Scientific, established in 1906, is renowned globally for its design and manufacturing of laboratory, healthcare, and technical furniture. The company offers a diverse range of products including caseworks, fume hoods, and safety cabinets, which support research and healthcare environments. Their headquarters is located in Statesville, North Carolina, with sales offices worldwide, including locations in India, Saudi Arabia, and Singapore.

A noteworthy addition to Kewaunee's capabilities is Nu Aire, a leading manufacturer of essential laboratory equipment such as biological safety cabinets and CO2 incubators. This acquisition bolsters Kewaunee's portfolio and positions them for further growth in the laboratory supply market.

Looking ahead, Kewaunee's management remains confident that the amended share repurchase program will effectively support the company's financial strategy and create additional shareholder value. The adaptability of their capital allocation strategies, especially in managing buyback operations, signals their commitment to fostering a responsible, proactive approach in maintaining investor confidence.

As they navigate the evolving market landscape, Kewaunee's actions reflect a resilient commitment to its investors and stakeholders, aiming to enhance overall profitability and stock performance in the upcoming fiscal periods.