InvestorsObserver
×
News Home

Steelcase Inc Up 15.22% To $8.29 After Earnings Beat

Thursday, March 23, 2023 11:09 AM | InvestorsObserver Analysts

Mentioned in this article

Steelcase Inc Up 15.22% To $8.29 After Earnings Beat

Thursday, March 23, 2023 - Steelcase Inc (SCS) reported upside earnings and revenues today.

Steelcase Inc's earnings came in at an EPS of $0.19 per share, 73.00% higher than estimates for an EPS of $0.11 per share. The firm's earnings are up 1050% since reporting losses of $0.02 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $801.7 million. That is an increase of 6.45% in revenues from the year-ago report and is 6.70% higher than consensus estimates set at $751.4 million.

The stock is up 15.22% to $8.29 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Steelcase Inc a Neutral Sentiment Rank from InvestorsObserver.

Steelcase Inc has performed a little below average during the past few months. Before the report, Steelcase Inc received a Long-Term Technical Rank by InvestorsObserver of 26, putting it in the bottom half of stocks. The firm set a 52-week low on December 19, 2022 at $6.2 and set a 52-week high on May 31, 2022 at $12.43.

Steelcase Inc is a furniture company primarily based in the United States and has operations in Europe, the Middle East, and Africa. Steelcase markets its products primarily through a network of independent and company-owned dealers. The company operates through the Americas segment, the EMEA segment and the Other category. The Americas segment offers architecture, furniture and technology products is marketed to corporate, government, healthcare, education and retail customers, EMEA segment provides furniture systems, storage and seating solutions.

You May Also Like

Get the InvestorsObserver App

InvestorsObserver App
iOS App Android App