Steelcase ( (SCS) ) has released its Q1 earnings. Here is a breakdown of the information Steelcase presented to its investors.
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Steelcase Inc. is a global leader in the design and manufacture of furniture and solutions for work environments, serving various sectors including corporate, healthcare, and education. In its first quarter of fiscal 2026, Steelcase reported a 7% increase in revenue compared to the previous year, reaching $779 million, with significant growth in the Americas. The company also saw a 45% rise in operating income, driven by strong performance from large corporate clients. Key financial highlights include a gross margin improvement to 33.9% and adjusted earnings per share of $0.20, up from $0.16 the previous year. The Americas segment led the growth with a 9% increase in revenue, while international markets saw a slight decline. Steelcase’s strategic focus on restructuring and cost reduction initiatives aims to bolster profitability, particularly in its international segment. Looking forward, Steelcase anticipates steady revenue growth in the second quarter, projecting earnings per share between $0.27 and $0.31, as it continues to adapt to changing market conditions and customer needs.