Steelcase (SCS) Tops Q2 EPS by 18c, Offers Q3 Guidance

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Go back to Steelcase (SCS) Tops Q2 EPS by 18c, Offers Q3 Guidance

Steelcase Reports Second Quarter Fiscal 2021 Results

September 22, 2020 4:05 PM EDT

Significant cost reductions drove strong EPS of $0.47 despite 18% drop in revenue and $15.6 million of restructuring costsYear-over-year order declines lessened during the quarter, led by Asia Pacific and EMEA Liquidity position remains very strong at $684 million after full repayment of credit facility borrowingsThird quarter outlook reflects 8% lower global backlog and stabilizing order trends in the Americas

GRAND RAPIDS, Mich., Sept. 22, 2020 (GLOBE NEWSWIRE) -- Steelcase Inc. (NYSE: SCS) today reported second quarter revenue of $818.8 million and net income of $55.5 million, or diluted... More