Attendees interested in viewing the live presentation can register for this event, at no cost, here: Virtual Equity Conference Registration. A link to the webcast, along with the supporting presentation materials, will be available at the company's website at ir.steelcase.com and on Channelchek at www.channelchek.com the investor portal created by Noble. Source: Steelcase SC-GR GRAND RAPIDS, Mich., June 25, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) announces that Dave Sylvester, Senior Vice Presid ...

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Most Powerful Force Impacting Stock Prices Harnessing the Power of Earnings Estimate Revisions For the fiscal year ending February 2025, this office furniture maker is expected to earn $1 per share, which is a change of 7.5% from the year-ago reported number. Yo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 24, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13873 ___________________________________________________________ ...

Steelcase Inc. (NYSE:SCS) Q1 2025 Earnings Conference Call June 20, 2024 8:30 AM ET Company Participants Mike O'Meara - Investor Relations Sara Armbruster - President & Chief Executive Officer Dave Sylvester - Senior Vice President & Chief Financial Officer Conference Call Participants Reuben Garner - Benchmark Greg Burns - Sidoti & Company Brian Gordon - Water Tower Research Chris White - Thompson Research Group Operator Good morning. My name is Sarah, and I will be your conference operator today. At this ...

• Drive value through business transformation Products We are reducing carbon emissions embodied in our products by choosing and using materials responsibly and designing for circularity. Transportation Steelcase sources of carbon emissions mix (Fiscal 2020) Capital Expenditures and Research & Development ($ Millions) Dividends and Share Repurchases ($ Millions) orangebox These forward-looking statements discuss goals, intentions and expectations as to future trends, plans, events, results of operations or ...

Steelcase (SCS) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this office furniture maker would post earnings of $0.21 per share when it actually produced earnings of $0.23, delivering a surprise of 9.52%. Over the last four quarters, the com ...

Revenue decline and order growth compared to the prior year were as follows: Orders (adjusted for the impact of a divestiture and currency translation effects) grew 8 percent in the first quarter compared to the prior year, including 10 percent growth in the Americas and 2 percent growth in International. The order growth in the Americas was primarily driven by project business with large corporate customers and our education business. The order growth in International was driven by 4 percent growth in EMEA ...

Revenue Performance - Steelcase reported first quarter revenue of $727.3 million, a 3% decline compared to $751.9 million in the prior year[2]. - Revenue for the three months ended May 26, 2023, was $751.9 million, down from $801.7 million in the same period of 2022, reflecting a decrease of 6.5%[23]. - Revenue for the three months ended May 24, 2024, was $727.3 million, a decrease of 3.1% compared to $751.9 million for the same period in 2023[41]. - Revenue from the Americas for the three months ended May 24, 2024, was $554.4 million, a decrease from $572.8 million in the same period of 2023[29]. - International revenue for the three months ended May 24, 2024, was $172.9 million, down from $179.1 million in the same period of 2023[30]. - Steelcase's fiscal year 2024 revenue is projected to be approximately $3.2 billion[40]. Profitability - Net income for the first quarter was $10.9 million, or $0.09 per share, compared to $1.5 million, or $0.01 per share, in the prior year[2]. - Net income for the three months ended May 26, 2023, was $15.7 million, compared to $11.4 million for the same period in 2022, representing a 37.7% increase[23]. - Net income increased significantly to $10.9 million, compared to $1.5 million in the same quarter last year, representing a growth of 626.7%[41]. - Basic and diluted earnings per share both improved to $0.09, up from $0.01 in the previous year[41]. - Adjusted earnings per share for the three months ended August 25, 2023, was $0.31, with a projected range of $0.36 to $0.40 for the same period in 2024[25]. Operating Performance - Operating income improved by $10 million year-over-year, reaching $17.6 million, while adjusted operating income increased by $8.5 million to $28.2 million[6][5]. - Operating income for the three months ended May 24, 2024, was $17.6 million, compared to $7.3 million for the same period in 2023, indicating a significant improvement[28]. - Operating income improved to $17.6 million, compared to $7.3 million in the same quarter last year, an increase of 141.1%[41]. - Steelcase recorded $6.3 million in restructuring costs during the first quarter, impacting operating results[7]. Orders and Backlog - Orders grew 8% year-over-year, with a 10% increase in the Americas and a 2% increase internationally[3]. - The backlog at the end of the first quarter was approximately $764 million, a 1% increase from the prior year[13]. Liquidity and Cash Flow - Total liquidity at the end of the first quarter was $377.8 million, an increase of $177.9 million compared to the prior year[11]. - Cash and cash equivalents at the end of the period were $180.3 million, down from $46.6 million a year ago, reflecting a decrease of 286.4%[50]. - The company reported a net cash used in operating activities of $59.1 million, compared to a net cash provided of $11.3 million in the prior year[49]. Future Projections - The company expects second quarter revenue to be between $850 million and $875 million, reflecting a potential decline of 1% to growth of 2% compared to the prior year[13]. - Projected earnings per share for the second quarter are between $0.33 to $0.37, with adjusted earnings per share between $0.36 to $0.40[14]. - Projected organic revenue growth for Q2 2025 is estimated to be between $10 million and $35 million, translating to a growth rate of 1% to 4% compared to Q2 2024[24]. Margins - Gross margin for the first quarter was 32.2%, with a 180 basis point improvement excluding restructuring costs[8]. - Gross profit margin for the three months ended May 24, 2024, was 32.2%, slightly up from 31.2% in the same period of 2023[28]. - Gross profit remained relatively stable at $234.4 million, compared to $234.6 million in the prior year, indicating a slight decrease of 0.1%[41]. Assets and Liabilities - Total current assets decreased to $862.2 million from $959.4 million, a decline of 10.1%[44]. - Total liabilities decreased to $1,254.3 million from $1,349.6 million, a reduction of 7.1%[47]. - The company declared and paid dividends of $0.100 per common share, consistent with the previous year[42].

| --- | --- | --- | --- | --- | --- | |----------------|------------------|-----------------------------------------------|-------|-------|----------------------| | | Revenue Decline | Q1 2025 vs. Q1 2024 \nOrganic Revenue Decline | | | Organic Order Growth | | Americas | (3 | )% (1 | )% | 10 | % | | International | (3 | )% (2 | )% | 2 | % | | Steelcase Inc. | (3 | )% (1 | )% | 8 | % | "We are pleased with our first quarter results, which reflected higher than expected adjusted earnings improvement and 10% ...

GRAND RAPIDS, Mich., June 17, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its first quarter fiscal year 2025 financial results on Thursday, June 20, 2024 at 8:30 a.m. ET. A link to the webcast will be available at https://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 before the market opens on June 20, 2024, which is a change from the previously announced da ...