Steelcase (NYSE:SCS) reported its Q3 earnings results on Tuesday, December 19, 2023 at 04:05 PM.
Here’s what investors need to know about the announcement.
Earnings
Steelcase beat estimated earnings by 30.43%, reporting an EPS of $0.3 versus an estimate of $0.23.
Revenue was down $49.00 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.11 which was followed by a 19.3% increase in the share price the next day.
Here’s a look at Steelcase’s past performance:
| Quarter | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|
| EPS Estimate | 0.20 | 0.01 | 0.11 | 0.18 |
| EPS Actual | 0.31 | 0.09 | 0.19 | 0.20 |
| Revenue Estimate | 828.82M | 718.15M | 751.37M | 836.42M |
| Revenue Actual | 854.60M | 751.90M | 801.70M | 826.90M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Steelcase management provided guidance for Q4 2024, expecting earnings between $0.19 and $0.23 per share.
To track all earnings releases for Steelcase visit their earnings calendar here.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
