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

Steelcase

19/12/2023 22:01

* Steelcase Inc  SCS.N  reported quarterly adjusted earnings
of 30
cents​​ per share for the quarter ended in November, higher than
the same quarter last year, when the company reported EPS of 20
cents.  The mean expectation of four analysts for the quarter
was for earnings of 23 cents per share. Wall Street expected
results to range from 17 cents to 25 cents per share.
    * Revenue fell 5.9% to $777.90 million from a year ago;
analysts
expected $796.43 million. 
    * Steelcase Inc's reported EPS for the quarter was 26
cents​.
    * The company reported quarterly net income of $30.8
million.
    * Steelcase Inc shares had risen by 12.0% this quarter and
gained 76.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 16.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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
$11.38 
This summary was machine generated from LSEG data December 19 at
10:01 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
 Nov. 30 2023      0.23           0.30           Beat
 Aug. 31 2023      0.20           0.31           Beat
 May. 31 2023      0.01           0.09           Beat
 Feb. 28 2023      0.11           0.19           Beat