Welcome to our dedicated page for Steelcase news (Ticker: SCS), a resource for investors and traders seeking the latest updates and insights on Steelcase stock.
Steelcase, Inc. (NYSE: SCS) is a leading global design and thought leader in the world of work, established in 1912 and headquartered in Grand Rapids, Michigan. The company's transformative vision helps enhance workplaces, creating environments where employees can excel. Steelcase designs and manufactures a broad portfolio of furniture and architectural products, including brands such as Steelcase, AMQ, Coalesse, and Designtex, aimed at elevating the work experience in business, healthcare, and education sectors.
Steelcase's products and services are marketed through a robust network of dealers, as well as through direct online and retail channels. The company operates primarily in two segments: the Americas, which is its largest revenue generator, and the International segment, which covers markets outside of North America.
Recent achievements reinforce Steelcase's leadership in the industry. In fiscal year 2024, the company reported revenue of $3.2 billion, highlighting its steady growth and resilience. Steelcase's innovative spirit was demonstrated with the launch of Ocular View, an extended reality experience developed in collaboration with Logitech, designed to enhance virtual meetings by creating more personal connections. Another notable milestone is the company's continued focus on sustainability, evidenced by its eco-friendly initiatives like achieving carbon neutrality and offering products with CarbonNeutral® certification.
Financially, Steelcase has shown remarkable improvement. For the third quarter of fiscal 2024, the company reported revenue of $777.9 million and a net income of $30.8 million, a significant increase from the previous year's $11.4 million. The company's liquidity stood strong at $424.6 million, up by $110.1 million from the prior quarter. The Board of Directors declared a quarterly cash dividend of $0.10 per share, showcasing confidence in the company's financial health.
Steelcase is recognized for its contributions to the industry and society, receiving accolades such as an EcoVadis Gold rating and being named one of the World's Most Admired Companies by Fortune. These recognitions underscore Steelcase's commitment to creating better futures for people and the planet, aligning with its core values of integrity, inclusion, and community support.
For more insights and updates, visit Steelcase.com.
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