Recap: Steelcase Q3 Earnings - Steelcase (NYSE:SCS)

Steelcase SCS reported its Q3 earnings results on Tuesday, December 19, 2023 at 04:05 PM.

Here's what investors need to know about the announcement.

Steelcase beat estimated earnings by 30.43%, reporting an EPS of $0.3 versus an estimate of $0.23.

Revenue was down $49.00 million from the same period last year.

Last quarter the company beat on EPS by $0.11 which was followed by a 19.3% increase in the share price the next day.

Here's a look at Steelcase's past performance:

Quarter	Q2 2024	Q1 2024	Q4 2023	Q3 2023
EPS Estimate	0.20	0.01	0.11	0.18
EPS Actual	0.31	0.09	0.19	0.20
Revenue Estimate	828.82M	718.15M	751.37M	836.42M
Revenue Actual	854.60M	751.90M	801.70M	826.90M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Steelcase management provided guidance for Q4 2024, expecting earnings between $0.19 and $0.23 per share.

To track all earnings releases for Steelcase visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.