Steelcase(SCS) ZACKS·2024-12-18 23:16Group 1: Earnings Performance - Steelcase reported quarterly earnings of 0.23 per share, with an earnings surprise of 30.43% [1] - The company posted revenues of 777.9 million year-over-year [2] - Over the last four quarters, Steelcase has surpassed consensus EPS estimates four times, but has only topped consensus revenue estimates once [2] Group 2: Stock Performance and Outlook - Steelcase shares have declined approximately 3.5% since the beginning of the year, contrasting with the S&P 500's gain of 26.9% [4] - The current consensus EPS estimate for the upcoming quarter is 845.8 million, and for the current fiscal year, it is 3.22 billion [8] - The estimate revisions trend for Steelcase is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Group 3: Industry Context - The Business - Office Products industry, to which Steelcase belongs, is currently in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [6]