Steelcase (SCS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Steelcase (SCS) reported quarterly earnings results on Wednesday, Jun-22-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.16. The company posted revenue of $718.80 million in the period, compared to analysts expectations of $700.10 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Steelcase closed down -0.44 points or -2.88% at $14.86 with 12,88,011 shares getting traded on Tuesday. Post opening the session at $15.29, the shares hit an intraday low of $14.86 and an intraday high of $15.34 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Mar 29, 2016, Sara E Armbruster (VP, Strategy, Research & NBI) sold 10,000 shares at $14.76 per share price. According to the SEC, on Nov 3, 2015, Eddy F Schmitt (Senior VP, Americas) sold 10,745 shares at $19.61 per share price. On Oct 19, 2015, Lizbeth S O’shaughnessy (SVP, CAO, GC and Secretary) sold 40,000 shares at $19.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Steelcase Inc. (Steelcase) provides an integrated portfolio of furniture settings user-centered technologies and interior architectural products. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products such as storage tables and ergonomic worktools. Its seating products include task chairs which are ergonomic seating that can be used in collaborative or casual settings and specialty seating for specific vertical markets such as healthcare and education. The Company’s technology solutions support group collaboration by integrating furniture and technology. Its interior architectural products include full and partial height walls and doors. The Company’s family of brands include Steelcase Coalesse Details Designtex PolyVision and Turnstone. The Company’s operational segments include Americas Europe the Middle East and Africa (EMEA) Other Category and Corporate.


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