Steelcase (SCS) Misses Q3 EPS by 2c; Guides Q4 EPS Below the Street

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Go back to Steelcase (SCS) Misses Q3 EPS by 2c; Guides Q4 EPS Below the Street

Steelcase Reports Third Quarter Results

December 21, 2015 4:01 PM EST

GRAND RAPIDS, Mich., Dec. 21, 2015 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported third quarter revenue of $787.6 million and net income of $35.6 million, or diluted earnings per share of $0.28. Excluding restructuring costs, adjusted earnings were $0.30 per share.  In the prior year, Steelcase reported $800.0 million of revenue, diluted earnings per share of $0.09 and adjusted earnings of $0.29 per share. 

Organic revenue growth over the prior year was 1 percent after adjusting for approximately $29.9 million of unfavorable currency translation effects and the impact of a small acquisition, net of divestitures.  The Americas and Other category posted organic... More