Steelcase (NYSE:SCS) Announces Earnings Results

Steelcase (NYSE:SCS - Get Free Report) announced its earnings results on Wednesday. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07, Zacks reports. The business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The company's revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Steelcase updated its Q4 guidance to $0.20-0.24 EPS and its Q4 2025 guidance to 0.200-0.240 EPS.

Steelcase Stock Down 4.5 %

SCS traded down $0.59 on Wednesday, reaching $12.46. The company's stock had a trading volume of 1,195,773 shares, compared to its average volume of 667,602. Steelcase has a 1 year low of $11.50 and a 1 year high of $14.74. The business's 50 day moving average is $13.03 and its 200 day moving average is $13.17. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35.

Analyst Upgrades and Downgrades

Separately, Noble Financial started coverage on shares of Steelcase in a report on Wednesday, October 9th. They set an "outperform" rating and a $16.00 price target for the company.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the transaction, the vice president now owns 119,481 shares of the company's stock, valued at approximately $1,566,395.91. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.96% of the stock is owned by company insiders.

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.