Core Insights - Steelcase Inc. reported first quarter revenue of $779.0 million, a 7% increase from $727.3 million in the prior year, with net income rising to $13.6 million from $10.9 million [1][23][38] - The company experienced organic revenue growth of 7%, driven by a 9% increase in the Americas, while international revenue saw a 1% decline [1][16] - The backlog at the end of the first quarter was approximately $801 million, a 2% increase compared to the previous year [11] Financial Performance - Adjusted earnings per share for the first quarter were $0.20, up from $0.16 in the prior year [18] - Operating income increased by 45% to $25.5 million, with adjusted operating income rising to $39.0 million, an increase of $10.8 million [3][4][23] - Gross margin improved to 33.9%, reflecting a 170 basis point increase from the previous year [4][6] Revenue Breakdown - Revenue from the Americas segment was $603.6 million, a 9% increase, while international revenue was $175.4 million, a 1% increase [14][25] - The Americas accounted for 77.5% of total revenue, while international revenue made up 22.5% [14] Orders and Market Dynamics - Orders adjusted for currency translation effects declined modestly, with a 1% decrease in the Americas and a 1% increase in international orders [2] - The decline in the Americas was attributed to decreases from government and education customers, despite growth from large corporate clients [2][3] Strategic Initiatives - The company initiated restructuring actions in the Americas aimed at reducing annualized spending by approximately $20 million [6] - Steelcase is focusing on investments in strategic initiatives and growth areas, particularly in response to weak demand in Germany and France [6] Outlook - For the second quarter of fiscal 2026, Steelcase expects revenue in the range of $860 to $890 million, translating to flat to 4% growth compared to the prior year [11][20] - Projected adjusted earnings per share for the second quarter are estimated to be between $0.36 to $0.40 [22]

Financial Results Announcement - Steelcase Inc. will webcast a discussion of its first quarter fiscal year 2026 financial results on June 26, 2025, at 8:30 a.m. ET [1] - A news release detailing the financial results will be issued on June 25, 2025, after the market closes [1] Annual Meeting of Shareholders - Steelcase Inc. will hold its Annual Meeting of Shareholders on July 9, 2025, via live webcast at 11:00 a.m. ET [2] - The webcast will be accessible online, and a replay will be available after the event concludes [2] Company Overview - Steelcase Inc. is a global design and thought leader focused on improving work environments [3] - The company collaborates with over 30 creative and technology partner brands to research, design, and manufacture furnishings and solutions for various workspaces [3] - Steelcase employs approximately 11,300 individuals and aims to enhance the wellbeing of people and the planet [3] - The company's solutions are distributed through a global network of expert dealers in around 790 locations [3]