News
Steelcase Stock Surges as Furniture Orders Grow
Key Takeaways
Steelcase ( SCS ) shares soared Thursday, a day after the furniture supplier's results exceeded forecasts and it gave strong guidance as orders increased.
The maker of ergonomic office chairs and storage systems reported fourth-quarter fiscal 2025 adjusted earnings per share (EPS) of $0.26 on revenue that rose about 2% year-over-year to $788.0 million. Analysts surveyed by Visible Alpha were looking for $0.22 and $785.5 million, respectively.
Orders grew 9%, boosted by a 12% jump in the Americas market. Sales in the Americas were up nearly 5% to $608.1 million, although they fell 7% to $179.9 million internationally.
CEO Says Well-Positioned as Organizations Require Employees Return to Office
CEO Sara Armbruster called the growth in orders in the Americas "broad-based, driven by most of our customer segments, with especially strong growth from our large corporate and government customers." Armbruster added that the company will benefit from more organizations requiring employees to return to the office as they drop their work-from-home options.
Steelcase sees current-quarter adjusted EPS in the range of $0.13 to $0.17, while the Visible Alpha outlook was for $0.14.
Despite today's 5% advance, shares of Steelcase remain about 15% lower over the past year.
Read the original article on Investopedia