Steelcase (SCS) Tops Q1 EPS by 2c; Issues Light Q2 Outlook

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Go back to Steelcase (SCS) Tops Q1 EPS by 2c; Issues Light Q2 Outlook

Steelcase Reports First Quarter Results

June 22, 2016 4:01 PM EDT

GRAND RAPIDS, Mich., June 22, 2016 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $718.8 million and net income of $19.4 million, or diluted earnings per share of $0.16. Excluding restructuring costs, adjusted earnings were $0.18 per share.  In the prior year, Steelcase reported $705.5 million of revenue, diluted earnings of $0.16 per share and adjusted earnings of $0.17 per share. 

Organic revenue growth over the prior year was 1 percent after adjusting for unfavorable currency translation effects and the impact of a small acquisition.  The Other category posted organic revenue growth of 12 percent over the... More