Steelcase falls as Q3 revenue declines

Steelcase

20/12/2023 11:51

** Shares of furniture maker  SCS.N  fall 10.24% to $11.4
premarket    
    ** Co reports Q3 revenue at $777.9 mln, down 6% compared
with $826.9 mln reported a year earlier
    ** On an organic basis, too, revenue declined 6% due to
lower backlog at the start of the quarter 
    ** Revenue from Americas unit and International down 5% and
7%, respectively, compared with last year 
    ** Co reports Q3 adj. EPS of 30 cents vs 20 cents a year
earlier
    ** YTD, stock up nearly 80% as of last close

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com))