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

Steelcase

20/06/2024 12:52

* Steelcase Inc  SCS.N  reported quarterly adjusted earnings
of 16
cents​​ per share for the quarter ended in May, higher than the
same quarter last year, when the company reported EPS of 9
cents.  The mean expectation of four analysts for the quarter
was for earnings of 10 cents per share. Wall Street expected
results to range from 9 cents to 11 cents per share.
    * Revenue fell 3.3% to $727.30 million from a year ago;
analysts
expected $729.13 million. 
    * Steelcase Inc's reported EPS for the quarter was 9 cents​.
    * The company reported quarterly net income of $10.9
million.
    * Steelcase Inc shares had fallen by 3.7% this quarter and
lost 6.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged 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 "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the business
support
supplies peer group is also "buy"

Wall Street's median 12-month price target for Steelcase Inc is
$16.00 
This summary was machine generated from LSEG data June 20 at
11:52 a.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
 May. 31 2024      0.10           0.16           Beat
 Feb. 29 2024      0.21           0.23           Beat
 Nov. 30 2023      0.23           0.30           Beat
 Aug. 31 2023      0.20           0.31           Beat