Steelcase gains on upbeat profit forecast

Steelcase

19/12/2022 21:27

** Shares of office furniture maker Steelcase Inc  SCS.N 
fall 2.9% to $6.43 in extended trading
    ** Co expects Q4 adjusted earnings per share between 11
cents and 15 cents vs est. of profit of 12 cents/share
    ** Co says "We expect continued year-over-year gross margin
benefits from our pricing actions, as we aim to recover the
cumulative impact of inflation"
    ** SCS expects Q4 revenue between $740 mln and $765 mln,
compared with est. of $790.33 mln - Refinitiv
    ** Steelcase reports Q3 revenue of $826.9 mln, compared with
est. of $836.4 mln
    ** Up to last close, stock had fallen ~47% YTD
 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))