Steelcase (NYSE:SCS) Issues Q3 Earnings Guidance

Steelcase (NYSE:SCS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.21-0.25 for the period, compared to the consensus EPS estimate of $0.23. The company issued revenue guidance of $785-810 million, compared to the consensus revenue estimate of $812.08 million. Steelcase also updated its FY 2025 guidance to 1.000-1.000 EPS.

Steelcase Stock Down 5.7 %

Steelcase stock opened at $13.31 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $13.53 and its 200 day moving average price is $13.03. Steelcase has a 52 week low of $9.63 and a 52 week high of $14.74. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33.

Steelcase (NYSE:SCS) last announced its earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $864.17 million. Steelcase had a return on equity of 13.66% and a net margin of 2.89%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Steelcase will post 1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price objective on Steelcase from $17.00 to $18.00 and gave the company a buy rating in a research note on Friday, June 21st.

Insider Transactions at Steelcase

In other Steelcase news, CFO David C. Sylvester sold 73,184 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $13.84, for a total value of $1,012,866.56. Following the transaction, the chief financial officer now directly owns 551,592 shares of the company’s stock, valued at approximately $7,634,033.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Allan W. Smith, Jr. sold 70,444 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $13.84, for a total value of $974,944.96. Following the completion of the transaction, the senior vice president now owns 184,743 shares of the company’s stock, valued at approximately $2,556,843.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David C. Sylvester sold 73,184 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $13.84, for a total value of $1,012,866.56. Following the completion of the transaction, the chief financial officer now owns 551,592 shares of the company’s stock, valued at $7,634,033.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,187 shares of company stock worth $2,410,861. Corporate insiders own 12.96% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.