Steelcase Inc reports results for the quarter ended in February - Earnings Summary

Steelcase

20/03/2024 21:01

* Steelcase Inc  SCS.N  reported quarterly adjusted earnings
of 23
cents​​ per share for the quarter ended in February, higher than
the same quarter last year, when the company reported EPS of 19
cents.  The mean expectation of four analysts for the quarter
was for earnings of 21 cents per share. Wall Street expected
results to range from 20 cents to 22 cents per share.
    * Revenue fell 3.3% to $775.20 million from a year ago;
analysts
expected $780.25 million. 
    * Steelcase Inc's reported EPS for the quarter was 18
cents​.
    * The company reported quarterly net income of $21.3
million.
    * Steelcase Inc shares had fallen by 4.8% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
supplies peer group is also "hold"

Wall Street's median 12-month price target for Steelcase Inc is
$13.38 
This summary was machine generated from LSEG data March 20 at
09:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Feb. 29 2024      0.21           0.23           Beat
 Nov. 30 2023      0.23           0.30           Beat
 Aug. 31 2023      0.20           0.31           Beat
 May. 31 2023      0.01           0.09           Beat