Steelcase (SCS) Tops Q4 EPS by 7c, taking steps to maximize liquidity

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Go back to Steelcase (SCS) Tops Q4 EPS by 7c, taking steps to maximize liquidity

Steelcase Reports on Fourth Quarter and Fiscal 2020 Results and Actions to Maximize Liquidity and Conserve Capital

March 24, 2020 4:29 PM EDT

Fourth quarter results reflect strong performance Revenue grew 4% to $946.2 millionEPS improved 189% to $0.55; adjusted EPS improved 34% to $0.39EMEA posts $8.3 million of operating income and 4.5% operating margin Year-end liquidity topped $700 million; additional $250 million borrowed under new credit facility in MarchActions being taken to significantly reduce cash outflows

GRAND RAPIDS, Mich., March 24, 2020 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported fourth quarter revenue of $946.2 million and net income of $66.5 million, or diluted earnings... More