Steelcase Stock Price, News & Analysis

Steelcase Inc. (NYSE: SCS) will host a webcast on March 24, 2022, at 8:30 a.m. ET, to discuss its fourth quarter and fiscal year 2022 financial results. The financial results will be released the day prior, after market close, on March 23, 2022. Steelcase is recognized for its innovative designs in architecture, furniture, and technology solutions, serving organizations globally. For fiscal year 2021, the company reported revenue of $2.6 billion. Further details will be available during the webcast and on their investor relations website.

Steelcase reported Q3 revenue of $738.2 million, up 20% year-over-year, and net income of $9.6 million or $0.08 per share. Orders surged by 40% compared to the prior year, with strong growth in Asia Pacific, particularly in India and China. However, supply chain disruptions led to shipment delays estimated to shift $35 million of revenue into Q4. Gross margin decreased to 27.6% due to $27 million in inflation costs. The company expects Q4 revenue to range between $740 million and $765 million.

Steelcase Inc. (NYSE: SCS) will host a webcast to discuss its Q3 fiscal year 2022 financial results on December 17, 2021, at 8:30 a.m. ET. The financial results will be detailed in a news release on December 16, 2021, after market close. Interested parties can access the webcast at ir.steelcase.com. Steelcase, a global leader in workplace solutions, reported fiscal 2021 revenue of $2.6 billion.

Steelcase (NYSE: SCS) announces participation in the Water Tower Research Fireside Chat Series on November 3, 2021, at 10:00 a.m. ET. Senior Vice President and CFO, Dave Sylvester, along with Allan Smith, Senior Vice President, Chief Revenue Officer, will join the event via live webcast. Investors can register for the webcast through a link available on the company's investor relations page.

In fiscal 2021, Steelcase reported revenues of $2.6 billion and is renowned for creating productive and adaptable workplace solutions.

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.