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US Indices Down for Third Day as Oil Prices Rise
US indices were down for the third consecutive trading day as the macro-oriented refrain of higher oil prices and rising Treasury yields continued to haunt sentiment. Energy was the only S&P 500 sector in the green, with front-month WTI Crude Oil contract testing the upside of $97 per barrel for the first time since May as U.S.-Iran tensions continue to percolate. Industrials and Consumer Cyclicals were the worst-performing areas of the market and Casey's General Storeswas the worst performing stock in the benchmark. In Tech, Semiconductors and Software Infrastructure saw some notable gains among stocks like SK Hynix, Marvell, Cloudflareand Akamaiwith relative weakness seen in Hardware and SaaS groups. Metawas also a notable standout with a positive market reaction to its personal AI agent Muse release, though Apple'sproduct announcements under its new CEO Ternusdid not produce an outsized reaction in its share price. Similar to yesterday, the Dow Industrials index fared worse than S&P 500 and Nasdaq Composite given its much greater exposure to Industrials and lower exposure to Energy, as it fell to its lowest level since July with a decline of 0.8%.In the opening hour of the evening session, index futures are mixed - S&P e-minis are marginally higher while Nasdaq 100 is marginally lower. Crude oil also continues to climb higher, with WTI contract retesting $97. Inflation data will be top of mind for markets for the next two days - starting with tomorrow's PPI release - heading into next week's FOMC decision. Fed funds futures are currently tipping a 60% probability of a 25 basis point rate hike next Wednesday and a 50% probability of two 25 basis point hikes over the course of the three remaining Fed decisions this year.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Culpup 18.6%Research Solutionsup 3.8%AeroVironmentup 2.9%ALSO HIGHER -Kinetik Holdingsup 4.3% after Bloomberg report that the company is considering options that include a saleDOWN AFTER EARNINGS -Navandown 16.5%The Cooper Companiesdown 15.7%Skillsoftdown 12.7%American Eagle Outfittersdown 10.3%Kewaunee Scientificdown 9.4%Limoneiradown 7.7%Lakeland Industriesdown 2.4%
Kewaunee Reports Q1 Revenue of $66.32M
Reports Q1 revenue $66.32M vs. $71.1M last year. "I am pleased with Kewaunee's performance during Q1 and, importantly, with the continued execution of our strategy," said CEO Thomas Hull III. "Quoting activity remains strong across our markets, reinforcing our confidence in the underlying demand for our products and capabilities. While project award and release timelines remain extended amid broader geopolitical and economic uncertainty, we continue to see a healthy level of customer activity and opportunity across the business. At the same time, we remain disciplined and focused on the areas we can control - serving our customers, improving our operations, strengthening our commercial capabilities, and ensuring we are well positioned as quoting activity converts into project awards and releases. The progress we have made over the past several years has created a stronger, more diversified, and more resilient company, with an increasingly solid foundation for future growth. We continue to invest in our businesses, advance our strategy, and build the capabilities necessary to capture the opportunities ahead."
Kewaunee Reports Q4 Revenue of $71.4M
Reports Q4 revenue $71.4M vs $77.15M last year. "Fiscal year 2026 was an excellent year for Kewaunee, particularly in light of the challenging operating environment in which it was delivered," said Thomas D. Hull III, Kewaunee's President and Chief Executive Officer. "Our team managed through these conditions effectively, maintaining a strong level of EBITDA while making meaningful progress on the strategic priorities that will support Kewaunee's next phase of growth. We continued to invest in the Corporate platform required to scale as a public company, support future acquisitions, and accelerate our organic and inorganic growth strategy. We also made significant progress integrating Nu Aire, positioning the business for improved performance as life sciences market conditions recover, while strengthening our balance sheet through the servicing and repayment of acquisition-related debt."
Kewaunee Reports Q3 Revenue of $69.4M, Successfully Acquires Nu Aire
Reports Q3 revenue $69.4M vs. $67.47M last year. "Following the successful turnaround of the business, we embarked on a strategy that accelerated inorganic growth, which led to the successful completion of the Company's acquisition of Nu Aire," said CEO Thomas Hull III. "Since then, our teams have worked diligently to integrate Nu Aire into the Kewaunee family and position the business for meaningful growth and EBITDA contribution. We have also continued to invest in our corporate platform to support the next phase of our inorganic growth strategy. These investments include strengthening our corporate team, implementing a robust financial consolidation system, and enhancing our readiness to comply with the SEC's accelerated reporting requirements. As is traditionally the case," Hull continued, "our third quarter results often represent our softest quarter due to the impact of the holiday schedule in the United States, a general slowdown of construction schedules in the winter months, and customers looking to wrap up any construction projects before the calendar year-end. This trend was further exacerbated by significant geopolitical and economic uncertainty, and by the volatility in project delivery timelines that we have previously discussed. Although the construction-related portion of our business has been soft this fiscal year, the addition of Nu Aire's end-user containment products has helped offset that softness..."
Kewaunee Scientific announces Q1 EPS of $1.04, up from 74 cents last year
Reports Q1 revenue $71.1M vs. $48.3M last year. "Our Domestic and International segments delivered solid financial performance in Q1 despite challenging market conditions as a result of uncertain government policy, evolving tariff structures and broader geopolitical upheaval," said CEO Thomas Hull III. "While our overall backlog remains near historically high levels, we are experiencing volatility in project delivery timelines that we expect will cause uneven performance by quarter for the balance of fiscal year 2026, likely starting in the second quarter. This is a reality of both the uncertainty in the market, and the nature of construction-related manufacturing, where project timing often shifts, causing peaks and valleys in production schedules. Kewaunee is focused on growth, both organically and inorganically, and is committed to making strategic investments in the people, processes, and technology that will support and enable this growth in a sustainable manner. These important investments are accounted for in the Corporate segment and, while some of the costs are expected to be non-recurring in nature, many of them will not be. Though this will place pressure on earnings growth in the near term, we believe it will position Kewaunee for rapid and sustained growth in the future, allowing us to gain leverage on these investments over the long term."
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