Steelcase

Steelcase Inc. manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through the Americas, EMEA, and Other Category segments. The firm’s furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including work tools and screens. Its seating products consist of ergonomic task chairs, seating for collaborative or casual settings, and specialty seating for specific vertical markets, such as healthcare and education. The firm’s interior architectural products include full and partial height walls and architectural pods. It also provides textiles, wall coverings, and surface imaging solutions for architects and designers, and ceramic steel surfaces for use in various applications, including static whiteboards and chalkboards through third-party fabricators and distributors, as well as workplace strategy consulting, data-driven space measurement, lease origination, furniture and asset management, and hosted event services. The company markets and sells its products to corporate, government, healthcare, education, and retail customers under the Steelcase, Coalesse, Smith System, AMQ, Turnstone, Orangebox, Designtex, and PolyVision brands. Steelcase was founded by Peter Martin Wege, Walter D. Idema, and David Hunting on March 14, 1912 and is headquartered in Grand Rapids, MI.

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Steelcase Inc. surpasses Q1 expectations, eyes workplace trends for growth

Steelcase Inc.'s Q1 2024 performance exceeded expectations, with positive indicators for Q2. While challenges in the aviation market persist, the company is strategically positioned to leverage opportunities in the evolving workplace landscape.

Steelcase Inc. exceeds Q2 expectations, faces international challenges

Steelcase Inc. delivered strong Q2 results, exceeding expectations and demonstrating improved profitability. While facing challenges in international markets and declining orders, the company is focused on maintaining liquidity and exploring opportunities for acquisitions and debt reduction. The increasing demand for workplace transformation presents an opportunity for growth and adaptation to new ways of working.

Steelcase Inc. reports strong Q3 performance and focuses on workplace transformation

Steelcase Inc. demonstrated strong performance with notable improvements in gross margin and international segment profitability. However, challenges related to backlog impact, order strength, and profitability in different segments were highlighted. The company's focus on workplace transformation and sustainability presents opportunities for future growth and success.

Steelcase surpasses Q4 expectations, eyes growth amidst market challenges

Steelcase's Q4 2023 performance exceeded expectations, driven by strong revenue, gross margin improvement, and operational efficiencies.
Despite challenges such as inflation and supply chain disruptions, fiscal 2023 showcased resilience and growth, setting the stage for fiscal 2024 priorities.
Emphasis on workplace transformation, diversification, and profitability positions Steelcase for sustainable growth and market leadership in the future.
Strategic focus on profitability, operational efficiency, and market expansion highlights Steelcase's commitment to navigating market challenges and seizing growth opportunities.

Steelcase surpasses Q1 expectations, eyes growth through workplace innovation

Steelcase delivered strong Q1 results, focusing on operational improvements and strategic initiatives despite challenges in international markets. The company aims to drive growth through workplace innovation and efficiency enhancements.

Steelcase exceeds Q2 expectations, eyes growth in workplace transformation

Steelcase's strong Q2 performance, focus on profitability initiatives, and positive outlook for in-office presence mandates present a promising future. Challenges in international markets and varying customer relationships require strategic attention. Opportunities for growth lie in workplace transformation and maintaining financial strength.

Steelcase reports Q3 growth, focuses on sustainability for future success

Steelcase demonstrated strong performance in Q3 with notable improvements in gross margin and profitability across segments, despite some financial metrics falling slightly below expectations.
The company's focus on sustainability and innovation, along with a commitment to positive social and environmental impact, highlights its strategic alignment with evolving market trends and customer preferences.
While facing challenges in flat Q4 revenue growth, Steelcase's outlook for fiscal 2025 presents opportunities for organic revenue growth, improved earnings, and continued focus on profitability and margin enhancement.

Steelcase (SCS) reports strong Q4 earnings, eyes ERP optimization

Steelcase's Q4 2024 earnings call highlighted robust financial results, strategic initiatives for growth, and a strong balance sheet. With a focus on workplace innovation and customer diversification, the company aims for mid-single-digit order growth and organic revenue growth of 1% to 5% in fiscal 2025.

Steelcase Q1 2025 Earnings Beat Expectations, Growth Ahead

Steelcase's Q1 2025 earnings call highlighted significant financial performance, innovative product launches, and strategic collaborations. With a strong order growth and a positive outlook for Q2, the company remains optimistic about achieving its fiscal 2025 targets amid stable macroeconomic conditions.

Steelcase reports robust Q2 earnings, eyes global workplace transformation

Steelcase's Q2 2025 earnings call showcased strong financial results, a focus on workplace transformation, and commitment to social impact. While facing challenges like order declines and project timing risks, the company remains confident in achieving its fiscal 2025 targets.

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Steelcase, Inc. engages in the manufacture and distribution of office environments. It operates through the following segments: Americas, EMEA, and Other. The Americas segment serves customers in the US, Canada, the Caribbean Islands, and Latin America through the Steelcase, AMQ, Coalesse, HALCON, Orangebox, Smith System, and Viccarbe brands. The EMEA segment provides service to customers in Europe, the Middle East, and Africa under the Steelcase, Coalesse, Orangebox and Viccarbe brands. The Other segment includes Asia Pacific and Designtex. The company was founded by Peter Martin Wege, Walter D. Idema, and David Hunting on March 14, 1912 and is headquartered in Grand Rapids, MI.

Shares of Steelcase Inc. SCS, -1.78% rallied 12% in the extended session Wednesday after the office furniture maker reported adjusted quarterly earnings and sales above Wall Street expectations, saying that orders in its Americas region were stronger than it expected as workers were back at offices. Steelcase earned $15.7 million, or 13 cents a share, in the quarter, contrasting with a loss of $2.2 million, or 2 cents a share, in the year-ago period.

Steelcase stock jumps 12% as quarterly orders grow on return-to-work trends

GRAND RAPIDS, Mich., March 22, 2023 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported fourth quarter revenue of $801.7 million, net income of $15.7 million, or $0.13 per share, and adjusted earnings per share of $0.19.  In the prior year, Steelcase reported revenue of $753.1 million and a net loss of $2.2 million, or $0.02 per share, and had $0.01 adjusted earnings per share.

Steelcase Reports Fourth Quarter and Fiscal 2023 Results

GRAND RAPIDS, Mich., March 02, 2023 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its fourth quarter and fiscal year 2023 financial results on Thursday, March 23, 2023 at 8:30 a.m. ET. A link to the webcast will be available at http://ir.steelcase.com and a replay of the webcast will be available shortly after the call concludes. The news release detailing the financial results will be issued the previous day, March 22, 2023, after the market closes.

Steelcase to Webcast Fourth Quarter and Fiscal 2023 Conference Call

The company earned a place on the prestigious list for the 17th year, listed as fourth in the Home Equipment and Furnishings category The company earned a place on the prestigious list for the 17th year, listed as fourth in the Home Equipment and Furnishings category

Steelcase Named One of the World's Most Admired Companies by FORTUNE®

Steelcase Inc. (NYSE:SCS ) Q3 2023 Results Earnings Conference Call December 20, 2022 8:30 AM ET Company Participants Mike O'Meara - Director, Investor Relations and Financial Planning and Analysis Sara Armbruster - President and Chief Executive Officer David Sylvester - Senior Vice President and Chief Financial Officer Conference Call Participants Reuben Garner - The Benchmark Company Greg Burns - Sidoti & Company Steven Ramsey - Thompson Research Group Budd Bugatch - Water Tower Research Operator Good morning. My name is Rob and I will be your conference operator today.

Steelcase Inc. (SCS) Q3 2023 Earnings Call Transcript

GRAND RAPIDS, Mich., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported third quarter revenue of $826.9 million, net income of $11.4 million, or $0.10 per share, and adjusted earnings per share of $0.20.  In the prior year, Steelcase reported revenue of $738.2 million and net income of $9.6 million, or $0.08 per share, and had adjusted earnings per share of $0.11.

Steelcase Reports Third Quarter Fiscal 2023 Results

GRAND RAPIDS, Mich., Nov. 30, 2022 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its third quarter fiscal year 2023 financial results on Tuesday, December 20, 2022 at 8:30 a.m. ET. A link to the webcast will be available at http://ir.steelcase.com and a replay of the webcast will be available shortly after the call concludes. The news release detailing the financial results will be issued the previous day, December 19, 2022, after the market closes.

Steelcase to Webcast Third Quarter Conference Call

GRAND RAPIDS, Mich., Oct. 20, 2022 (GLOBE NEWSWIRE) -- Steelcase (NYSE: SCS) announced today Sanjay Gupta has been appointed to its board of directors. Gupta is a digital marketing and business leader who is currently serving as the chief marketing officer and chief digital officer at Guaranteed Rate, a leader in mortgage lending and digital financial services.

Steelcase Announces Appointment of Sanjay Gupta to Board of Directors

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Steelcase provides a portfolio of furniture and architectural products globally, primarily for the office environment. The company also provides furniture and accessories for the home office, hospitals and schools.

Steelcase: A Quality Furniture Company Facing Headwinds

A bottom-line beat was convincing, but guidance for the current quarter fell short.

Why Steelcase Stock Swooned by 10% Today

Steelcase Inc. (NYSE:SCS ) Q2 2023 Earnings Conference Call September 22, 2022 8:30 AM ET Company Participants Sara Armbruster - President, Chief Executive Officer David Sylvester - Senior Vice President, Chief Financial Officer Mike O'Meara - Director, Investor Relations Conference Call Participants Reuben Garner - Benchmark Company Bud Bugatch - Water Tower Research Steven Ramsey - Thompson Research Operator Good morning. My name is Rex and I will be your conference Operator today.

Steelcase (SCS) Q2 2023 Earnings Call Transcript

This article looks at what Steelcase said in its earnings report and why it could be a leading indicator of what is coming for the next several quarters.

What Steelcase's Earnings Say About the Return to the Office?

Steelcase SCS, -1.28% on Wednesday said it planned to cut up to 180 salaried positions in the third quarter, citing a "recent volume decline in our incoming orders and lower than expected return-to-office trends in the Americas." The maker of furniture and other supplies for offices, hospitals and classrooms said the move, intended to cut expenses, targeted around $20 million of annualized spending.

Steelcase plans job cuts on 'lower than expected return-to-office trends'

GRAND RAPIDS, Mich., Sept. 21, 2022 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported second quarter revenue of $863.3 million, net income of $19.6 million, or $0.17 per share, and adjusted earnings per share of $0.21. In the prior year, Steelcase reported revenue of $724.8 million and net income of $24.7 million, or $0.21 per share, and had adjusted earnings per share of $0.23.

Steelcase Reports Second Quarter Fiscal 2023 Results

Steelcase has had an interesting couple of quarters, with revenue and profits both improving in the latest timeframe. Management currently has high expectations for this year and, on a forward basis, shares look quite cheap.

Steelcase: Expect Management To Continue To Deliver

GRAND RAPIDS, Mich., Sept. 01, 2022 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its second quarter fiscal year 2023 financial results on Thursday, September 22, 2022 at 8:30 a.m. ET. A link to the webcast will be available at http://ir.steelcase.com and a replay of the webcast will be available shortly after the call concludes. The news release detailing the financial results will be issued the previous day, September 21, 2022, after the market closes.

Steelcase to Webcast Second Quarter Conference Call

Steelcase ranked #13 on Forbes list for 2022 Steelcase ranked #13 on Forbes list for 2022

Steelcase Named a Best Employer for Women by Forbes

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Steelcase sales and earnings come in well ahead of expectations in Q1. Momentum is set to continue in the second quarter.

Steelcase: Strong Forward Earnings Growth To Finally Move The Share-Price

Steelcase Inc. (NYSE:SCS ) Q1 2023 Earnings Conference Call June 23, 2022 8:30 AM ET Company Participants Michael O'Meara - Director, Investor Relations and Financial Planning and Analysis Sara Armbruster - President and Chief Executive Officer David Sylvester - Senior Vice President and Chief Financial Officer Conference Call Participants Greg Burns - Sidoti Kathryn Thompson - Thompson Research Group Budd Bugatch - Water Tower Research Operator Good morning. My name is Rob and I will be your conference operator today.

Steelcase Inc. (SCS) CEO Sara Armbruster on Q1 2023 Results - Earnings Call Transcript

Steelcase (NYSE: SCS), a maker of office and industrial purpose furniture, has been struggling over the past few years but those times are changing. Postponed demand and a return to in-person operations at many businesses have reinvigorated the company and have it set up to outperform in 2022.

It's A Comfortable Time To Buy Steelcase

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Steelcase Inc. (NYSE: SCS) reported first-quarter revenue growth of 33% year-over-year to $740.70 million, +35% on an organic basis, beating the consensus of $690.94 million. Adjusted EPS was $(0.05), beating the consensus of $(0.18).

Steelcase Shares Surge On Solid Q1 Results, Clocks 33% Revenue Growth

GRAND RAPIDS, Mich, June 22, 2022 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $740.7 million, a net loss of $11.4 million, or $0.10 per share, and an adjusted loss per share of $0.05. In the prior year, Steelcase reported revenue of $556.6 million and a net loss of $28.1 million, or $0.24 per share, and had an adjusted loss per share of $0.22.

News for Steelcase Stock (SCS)