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 (SCS) delivers innovative office furniture and architectural solutions that transform workplaces globally. This news hub provides investors and professionals with timely updates on corporate developments, product innovations, and strategic initiatives shaping the future of work environments.
Access official press releases and curated news covering earnings reports, leadership changes, sustainability efforts, and technology partnerships. Our repository simplifies tracking SCS's market position in commercial interiors and hybrid collaboration solutions.
Key updates include new product launches, design research breakthroughs, and expansion of the company's global dealer network. Bookmark this page for direct access to verified information supporting informed analysis of Steelcase's performance in the evolving office solutions sector.
Steelcase Inc. (NYSE: SCS) will host an Investor Day event on May 4, 2023, at the Steelcase WorkLife Center in New York City. The event, starting at 9:00 a.m. ET, features presentations from Sara Armbruster, President and CEO, and other members of the management team. Interested participants can register through the company’s website, where a live webcast will also be available.
Post-event, a recording of the presentations and the Q&A session will be accessible online. Steelcase, established in 1912, is a renowned leader in designing work environments, with fiscal year 2023 revenue reported at $3.2 billion. The company employs 12,000 people globally and partners with around 770 dealers worldwide.
Steelcase reported Q4 2023 revenue of $801.7 million, up 6% year-over-year, with a net income of $15.7 million compared to a net loss of $2.2 million a year earlier. The operating margin improved by 330 basis points, driven by a 370 basis point increase in gross margin to 29.8%. Orders declined 8% year-over-year but improved from 17% decline in Q3. For fiscal 2023, revenue grew 17% to $3.2 billion. The outlook for Q1 FY2024 anticipates revenue between $710 million and $735 million, reflecting a decline of 1% to 4%. The company aims for adjusted EPS of $0.55 to $0.75 for FY2024.
Steelcase Inc. (NYSE: SCS) will host a webcast on March 23, 2023, at 8:30 a.m. ET to discuss its fourth quarter and fiscal year 2023 financial results. A detailed news release with the financial results will be shared on March 22, 2023, after market close. Established in 1912, Steelcase is a leader in workplace design, generating fiscal year 2022 revenue of $2.8 billion. It operates globally with over 11,000 employees and a network of dealers across more than 800 locations, focusing on improving work environments for various sectors including education and health.
Steelcase Inc. (SCS) reported third quarter revenue of $826.9 million, up 12% year-over-year, with net income of $11.4 million or $0.10 per share. Adjusted EPS rose to $0.20 from $0.11 a year ago. The gross margin improved by 120 basis points to 28.8%, driven by price increases and cost management. Despite a 16% decline in organic orders, the backlog remains strong at $854 million. The company expects fourth quarter revenue between $740 and $765 million, with projected EPS of $0.05 to $0.09 amidst macroeconomic challenges.
Steelcase Inc. (NYSE: SCS) will host a webcast to discuss its third quarter fiscal year 2023 financial results on December 20, 2022, at 8:30 a.m. ET. Interested parties can access the webcast through Steelcase's investor relations page. The financial results will be released on December 19, 2022, after market close. Steelcase, established in 1912, reported $2.8 billion in revenue for fiscal year 2022, employing over 11,000 individuals worldwide.
Steelcase (NYSE: SCS) appointed Sanjay Gupta to its board of directors on October 20, 2022. Gupta, currently the chief marketing officer and chief digital officer at Guaranteed Rate, brings over two decades of experience in the financial services sector, having served at notable firms such as Bank of America and Allstate. The board aims to enhance its expertise and diversity, and Gupta's skills in digital marketing and brand development are expected to provide significant value to the company. Steelcase reported a fiscal 2022 revenue of $2.8 billion.
Steelcase has reported a 19% revenue growth to $863.3 million for Q2 2023, driven by a strong backlog and pricing benefits. The net income for the quarter stands at $19.6 million, or $0.17 per share, down from $24.7 million and $0.21 per share in Q2 2022. Despite inflationary pressures, gross margin improved by 60 basis points. However, the company has announced planned spending reductions and a lower quarterly dividend of $0.10 due to uncertain demand. The projected revenue for Q3 2023 is between $825 and $850 million.
