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 ...

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This commitment builds on the organization's science-based targets set in 2019 to cut emissions in half in its own operations by 2030. The Science-Based Targets initiative, the leading authority guiding businesses on how much and how quickly they need to cut carbon emissions to reduce the impacts of climate change, validated the company's near-term and new net-zero targets. The company's long history of a commitment to designing better futures for the wellbeing of people and the planet is demonstrated throu ...

GRAND RAPIDS, Mich., May 30, 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 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, June 19, 2024, after the market closes. Steelcase Inc. will hold its Annual ...

GRAND RAPIDS, Mich., May 30, 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 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, June 19, 2024, after the market closes. Steelcase Inc. will hold its Annual ...

Dr. Wykoff, commented, "It was great to work with this panel of accomplished retina specialists to thoroughly review the SCS injection landscape, an established technique for retinal therapeutic delivery, with an associated promising pipeline for new indications utilizing novel pharmacotherapies. SCS administration offers targeted, local drug-delivery to posterior tissues. Extensive evidence support its safe and effective implementation in routine clinical practice. We believe that these guidelines reflect ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-K OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-13873 ____________________________ STEELCASE INC. (Exact name of registrant as specified in its charter) Michigan 38-0819050 (State or other jurisdiction of incorporation or organization) 901 44th Street SE Grand Rapids, Michigan 49508 ☑ ANNUAL REPORT PURSUANT TO ...

Steelcase Inc. (NYSE:SCS) Q4 2024 Earnings Conference Call March 21, 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 Budd Bugatch - Water Tower Research Operator Good morning. My name is Dennis, and I will be your conference operator today. At this time, I would like to welcome everyone to the ...

FY2024 Fourth Quarter FY2023 Third Quarter An industry leader in a changing workplace Efforts to diversify revenue base Mid-term targets include $50M+ of cost reduction savings Mid-Term (3-4 years) Financial Targets Average annual organic revenue growth $3.7 $2.6 $2.8 $3.2 $3.2 $- $1 $2 $3 $4 $0 $100 $200 $300 $400 FY25 Target 5.0% FY24 7.2% 4.1% 1.3% Adjusted Operating Income ($ Millions) Revenue ($ Billions) 3.3% 6 – 7% FY20 FY21 FY22 FY23 Mid-Term Targets Adjusted Operating Income Revenue ~5% Free cash f ...

Revenue Performance - Fourth quarter revenue was $775.2 million, a 3% decline from $801.7 million in the prior year, with a 2% decline in the Americas and a 6% decline in International[2][14]. - For fiscal 2024, the company reported $3.2 billion in revenue, net income of $81.1 million, and adjusted earnings per share of $0.93, reflecting a 127% increase in earnings per share compared to fiscal 2023[13][16]. - Steelcase Inc. reported a year-over-year organic revenue decline of 2% for 2024 compared to 2023, with a total revenue of $3,159.6 million[28]. - Revenue for the three months ended February 23, 2024, was $775.2 million, a decrease of 3.1% compared to $801.7 million for the same period in 2023[51]. - For 2025, projected revenue is expected to be between $3,215 million and $3,340 million, with an organic growth range of 1% to 5%[34]. Profitability Metrics - Net income for the fourth quarter increased to $21.3 million, or $0.18 per share, compared to $15.7 million, or $0.13 per share, in the prior year, representing a 38% increase in earnings per share[2][5]. - Adjusted earnings per share for the three months ended February 23, 2024, was $0.23, compared to $0.19 for the same period in 2023[29]. - Net income for the twelve months ended February 23, 2024, was $81.1 million, significantly higher than $35.3 million for the same period in 2023, representing a 129.0% increase[52]. - Basic earnings per share for the twelve months ended February 23, 2024, was $0.68, compared to $0.30 for the same period in 2023, reflecting a 126.7% increase[52]. - The company anticipates adjusted operating income for the twelve months ended February 28, 2025, to be between $150 million and $175 million[35]. Margins and Costs - Gross margin improved by 140 basis points in the fourth quarter, reaching 31.2%, and increased by 360 basis points for fiscal 2024 compared to the prior year[5][17]. - Adjusted EBITDA for the twelve months ended February 24, 2024, was $264.0 million, with an adjusted EBITDA margin of 8.4%[32]. - Gross profit margin for the Americas segment was 32.1% for the three months ended February 23, 2024, compared to 31.1% for the same period in 2023[39]. - Adjusted operating income for the Americas segment was $31.3 million (5.4% margin) for the three months ended February 23, 2024, down from $41.9 million (7.0% margin) in the prior year[39]. - The company incurred restructuring costs of $4.4 million for the three months ended February 23, 2024, compared to $3.9 million in the same period of 2023[41]. Liquidity and Financial Position - Total liquidity at the end of the fourth quarter was $485.5 million, an increase of $60.9 million from the previous quarter, with total debt at $446.3 million[11][12]. - Total current assets increased to $959.4 million as of February 23, 2024, compared to $884.0 million as of February 24, 2023, marking an 8.5% increase[54]. - Cash and cash equivalents rose to $318.6 million as of February 23, 2024, compared to $90.4 million a year earlier, indicating a significant increase[54]. - Total liabilities decreased to $1,349.6 million as of February 23, 2024, down from $1,376.6 million as of February 24, 2023[55]. - Net cash provided by operating activities for the twelve months ended February 23, 2024, was $308.7 million, compared to $89.4 million for the same period in 2023[56]. Order Trends and Backlog - Orders grew 4% in the fourth quarter, driven by an 8% increase in the Americas, while International orders declined by 6%[3][5]. - The backlog of customer orders at the end of the fourth quarter was approximately $625 million, which is 8% lower than the prior year[18][22]. - The company plans to focus on mid-single digit order growth in fiscal 2025, driven by strategies to lead workplace transformation and diversify customer segments[20][22]. Future Outlook - The company expects first quarter fiscal 2025 revenue to be between $715 million and $740 million, translating to a decline of 2% to 5% compared to the prior year[18][19]. - Fiscal 2025 targets include organic revenue growth of 1% to 5%, adjusted operating income of $150 million to $175 million, and adjusted earnings per share of $0.85 to $1.00[19][20]. - Projected revenue for Q1 2025 is estimated to be between $715 million and $740 million, reflecting an organic decline of 3% to 0%[33].