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.
Steelcase Inc. (NYSE: SCS) has announced its acquisition of Viccarbe Habitat, S.L. for €30 million ($35 million), with potential additional payments of up to €19 million based on performance over five years. The deal aims to enhance Steelcase's portfolio of collaborative furnishings and leverage Viccarbe's design expertise and market presence across 80 countries. Viccarbe reported revenue of approximately €14.5 million in the last twelve months. This acquisition reflects a strategic move to broaden aesthetic choices and accessibility in the high-performance furniture market.
Sara Armbruster has been appointed as the new CEO of Steelcase (NYSE: SCS), succeeding Jim Keane who will retire in January 2022. Armbruster, with over 20 years of experience in corporate strategy, has been with Steelcase since 2007, holding various executive roles. Her leadership will focus on global growth strategies and user-centered design, enhancing customer experience as workplaces evolve. The company recently released its 2021 Impact Report, reflecting its commitment to environmental, social, and governance issues.
Steelcase Inc. (NYSE: SCS) reported second quarter 2022 revenue of $724.8 million, down 11% year-over-year, resulting in a net income of $24.7 million, or $0.21 per share. Orders surged 24% compared to the prior year, driven by a 26% increase in the Americas. Supply chain disruptions negatively impacted Q2 revenue, with an estimated hit of $40 million. The company expects Q3 revenue between $755-785 million, reflecting a growth of 22%-27% year-over-year. Steelcase announced a third price increase for fiscal 2022 due to ongoing inflationary pressures.
Steelcase (NYSE: SCS) will host a webcast to discuss its second quarter fiscal year 2022 financial results on September 23, 2021, at 8:30 a.m. ET. A link to the live webcast will be available on their investor relations site, with a replay accessible shortly after the event. The financial results will be released on September 22, 2021, after market close. Steelcase, a global leader in workplace solutions, reported $2.6 billion in revenue for fiscal 2021, providing products that enhance safety, productivity, and adaptability in the workplace.
On August 31, 2021, Jim Keane, President and CEO of Steelcase (NYSE: SCS), will participate in the Water Tower Research Fireside Chat Series at 11:30 a.m. ET via live webcast. Registration and access to the webcast will be available on the Steelcase investor relations page. A replay will be provided shortly after the event. Steelcase, recognized as a leading provider of furniture and technology solutions, reported fiscal 2021 revenues of $2.6 billion, serving over 800 dealer locations worldwide.
Steelcase (NYSE: SCS) has established an exclusive agreement with Kontrol Technologies Corp (NEO: KNR, OTCQB: KNRLF) to deploy Kontrol BioCloud® viral detection technology in the U.S. and Canada. This partnership enables Steelcase to provide its clients with real-time monitoring of airborne pathogens, including SARS-CoV-2. The technology samples air continuously and alerts workplace leaders upon detecting a virus. Starting early September, BioCloud will be accessible exclusively through Steelcase's dealer network, enhancing workplace safety and addressing growing employee health concerns.
Steelcase (NYSE: SCS) has announced an exclusive agreement with Kontrol Technologies Corp (OTCQB: KNRLF) to introduce the Kontrol BioCloud® technology for airborne pathogen detection in workplaces across the U.S. and Canada. This partnership enables real-time monitoring of pathogens like SARS-CoV-2, aiming to enhance safety as organizations resume office operations. The BioCloud technology samples air continuously, immediately notifying employers of any detected viruses. Starting September, this innovative technology will be accessible exclusively through Steelcase's dealer network.
Steelcase announces participation in the Water Tower Research Fireside Chat Series on July 20, 2021, at 3:30 p.m. ET. David Sylvester, CFO, and Allan Smith, VP of Global Marketing, will be featured in the live webcast. Interested parties can register and access the webcast through Steelcase's Investor Relations page. A replay will be available after the event. The company reported a fiscal 2021 revenue of $2.6 billion, highlighting its role in creating productive workplaces globally.
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