reports
Moody's Ratings upgrades Steelcase's CFR to Ba1; outlook is stable
Moody's Ratings (Moody's) upgraded Steelcase Inc.'s (Steelcase) ratings including its Corporate Family Rating (CFR) to Ba1 from Ba2, Probability of Default Rating (PDR) to Ba1-PD from Ba2-PD, and the rating on the company's senior unsecured notes due 2029 to Ba2 from Ba3. The company's speculative g...
Steelcase Reports Fourth Quarter and Fiscal 2025 Results
Steelcase Reports Fourth Quarter and Fiscal 2025 Results Fourth quarter results compared to prior year: Orders grew 9%, driven by 12% broad-based growth in the AmericasGross margin improved 70 basis points Fiscal 2025 results: Orders grew 4%, driven by 6% growth in the Americas compared to prior yearGross margin improved 110 basis points compared to prior year, including benefits from cost reduction initiativesOperating income margin reached 5.0%, an improvement of 130 basis points compared to the prior yearAdjusted earnings per share exceeded company targetsReturned $84 million to sharehol...
Steelcase to Webcast Fourth Quarter and Fiscal 2024 Conference Call
Steelcase to Webcast Fourth Quarter and Fiscal 2024 Conference Call GRAND RAPIDS, Mich., March 06, 2025 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its fourth quarter and fiscal year 2025 financial results on Thursday, March 27, 2025 at 8:30 a.m. ET. A link to the webcast will be available at 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, March 26, 2025, after the market closes. About Steelcase Inc. Established in 1912, Steelcase is a glob...
- Dave Nicoski
- Ross LaDuke
Vermilion Short Shots: Technically Vulnerable Stocks
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
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Steelcase Reports Third Quarter Fiscal 2025 Results
Steelcase Reports Third Quarter Fiscal 2025 Results Strong results compared to prior year including: Revenue growth of 2% driven by 5% growth in the AmericasGross margin improvement of 100 basis pointsTotal liquidity strengthened by $152 million Americas posted order growth of 2% compared to prior yearOutlook for fiscal 2025 adjusted earnings per share exceeds company targets GRAND RAPIDS, Mich., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported third quarter revenue of $794.9 million, net income of $19.1 million, or $0.16 per share, and adjusted earnings per sh...
Steelcase to Webcast Third Quarter Fiscal 2025 Conference Call
Steelcase to Webcast Third Quarter Fiscal 2025 Conference Call GRAND RAPIDS, Mich., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its third quarter fiscal year 2025 financial results on Thursday, December 19, 2024 at 8:30 a.m. ET. A link to the webcast will be available at 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, December 18, 2024, after the market closes. About Steelcase Inc. Established in 1912, Steelcase is a global de...
Steelcase Reports Second Quarter Fiscal 2025 Results
Steelcase Reports Second Quarter Fiscal 2025 Results Strong results compared to prior year including: Operating income increased $49 millionAdjusted operating income increased $15 millionGross margin improved 130 basis pointsTotal liquidity strengthened by $193 million Americas posted order growth of 3% compared to prior yearThird quarter outlook projects 1 to 4% revenue growth compared to prior year GRAND RAPIDS, Mich., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported second quarter revenue of $855.8 million, net income of $63.1 million, or $0.53 per share, a...
Steelcase to Webcast Second Quarter Fiscal 2025 Conference Call
Steelcase to Webcast Second Quarter Fiscal 2025 Conference Call GRAND RAPIDS, Mich., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) will webcast a discussion of its second quarter fiscal year 2025 financial results on Thursday, September 19, 2024 at 8:30 a.m. ET. A link to the webcast will be available at 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, September 18, 2024, after the market closes. About Steelcase Inc. Established in 1912, Steelcase is a globa...
Steelcase Inc: 1 director
A director at Steelcase Inc sold 75,000 shares at 13.835USD and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...
Moody's Ratings changes Steelcase's outlook to positive; affirms Ba2 C...
Moody's Ratings (Moody's) affirmed Steelcase Inc.'s (Steelcase) ratings including the Ba2 Corporate Family Rating (CFR), Ba2-PD Probability of Default Rating (PDR), and the Ba3 rating on the company's senior unsecured notes due 2029. The company's speculative grade liquidity rating is unchanged at S...
Steelcase to Webcast Presentation at Noble Investor Conference
Steelcase to Webcast Presentation at Noble Investor Conference GRAND RAPIDS, Mich., June 25, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) announces that Dave Sylvester, Senior Vice President, Chief Financial Officer and Michael O’Meara, Director, Investor Relations and Financial Planning & Analysis, will be presenting at the Noble Capital Markets’ Consumer, Communications, Media, and Technology Emerging Growth Virtual Equity Conference on June 26, 2024. The presentation is scheduled for 3:00 p.m. ET and will be webcast. Scheduled 1x1 meetings are also available for registered, qu...
- Brian Gordon
- Budd Bugatch
Revising Revenue and EPS Estimates Following 1QFY25 Results; Improving...
We introduce our new revenue and earnings estimates and full financial model following Steelcase’s 1QFY25 earnings beat versus consensus and WTR estimates. Steelcase posted 1QFY25 adjusted EPS of $0.16 versus $0.09 in 1QFY24, beating consensus of $0.10 and our estimate of $0.11. 1QFY25 revenue of $727.3 million missed slightly, down 1% organically versus 1QFY24 and below our estimate of $729.6 million. Continued strong new orders and improving margins the (continuing) story. Organic orders in th...
- Brian Gordon
- Budd Bugatch
1QFY25 EPS of $0.16 Beats Consensus and WTR Estimate on Strong Margins...
SCS posted 1QFY25 EPS of $0.16 versus 1QFY24 EPS of $0.09, beating consensus of $0.10 and our estimate of $0.11 despite a Y/Y revenue decline of 3.3% (-1% on an organic basis). Total revenue of $727.3 million was slightly below our estimate of $729.6 million. Americas revenue of $554.4 million was down 1% on an organic basis, while International revenue of $172.9 million was down 2% on an organic basis. Order growth in the Americas of +10% and International +2% positive, building on the momentum...
Steelcase Reports First Quarter Fiscal 2025 Results
Steelcase Reports First Quarter Fiscal 2025 Results Orders grew 8% compared to prior year with 10% growth in the AmericasOperating income improved by $10 million compared to prior year driven by InternationalStrong second quarter outlook driven by education and large corporate customersFirst half outlook reflects pace towards higher end of full year income targets GRAND RAPIDS, Mich., June 20, 2024 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $727.3 million, net income of $10.9 million, or $0.09 per share, and adjusted earnings per share of $0.16...
Steelcase to Webcast First Quarter Fiscal 2025 Conference Call - Updat...
Steelcase to Webcast First Quarter Fiscal 2025 Conference Call - Update 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 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 date of after the market closes on Ju...
Steelcase to Webcast First Quarter Fiscal 2025 Conference Call
Steelcase to Webcast First Quarter Fiscal 2025 Conference Call 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 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 Meeting of Shareholders on Wednesday, Jul...
- Budd Bugatch
- Rex Henderson
Tweaking FY25 Estimates; Encouraged by Orders and Cash Flow
We are publishing new estimates for our Steelcase economic model after its solid 4QFY24 earnings. Adjusted EPS of $0.23 beat our estimate as well as consensus. Revenue of $775.2 million modestly missed estimates. 1QFY25: We tweaked our non-GAAP (adjusted) EPS estimate to $0.11 ($0.10 previously). Our $730 million revenue estimate ($745 million previously) is bracketed by guidance of $715-740 million. First-quarter revenue will be dampened by a low beginning backlog. FY25: Full-year diluted non-G...
- Budd Bugatch
- Rex Henderson
4Q Results; Guidance Roughly In Line; Americas Orders Show Strength
After the close Wednesday, Steelcase reported 4QFY24 non-GAAP adjusted EPS of $0.23, ahead of our $0.22 estimate and consensus of $0.21. 4QFY24 global revenue was $775 million, modestly missing our estimate by ~$9 million. FY24 non-GAAP adjusted EPS was $0.93, up from $0.56 in FY23, and revenue was $3.16 billion, down 2.6%. Guidance in line with published estimates. Management expects adjusted EPS of $0.08-0.12 in 1QFY25 and $0.85-1.00 in FY25. Pre-report consensus estimates were $0.10 and $0.93...
Steelcase Reports Fourth Quarter and Fiscal 2024 Results
Steelcase Reports Fourth Quarter and Fiscal 2024 Results Fourth quarter results Orders grew 4% compared to prior year driven by 8% growth in the Americas Gross margin improved 140 basis points compared to prior yearEarnings per share increased 38% compared to prior year Fiscal 2024 results Gross margin improved 360 basis points compared to fiscal 2023Earnings per share increased 127% compared to fiscal 2023Total liquidity strengthened by $238 million during fiscal 2024 Company provides financial targets for fiscal 2025 GRAND RAPIDS, Mic...
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