Why Steelcase Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Steelcase Inc. (NYSE:SCS) reported better-than-expected Q2 financial results and issued Q3 and full-year 2024 earnings per share guidance above estimates. The company reported Q2 earnings of 31 cents per share, beating the analyst consensus estimate of 20 cents. Quarterly sales were $854.60 million, beating the analyst consensus estimate of $828.82 million. The company also issued Q3 earnings per share guidance between 23 cents and 27 cents, and full-year 2024 earnings per share between 80 cents and 90 cents. Shares of the stock rose nearly 30% following the announcement.
September 20, 2023 | 6:51 pm
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Steelcase Inc. reported better-than-expected Q2 results and issued positive Q3 and full-year 2024 guidance, leading to a nearly 30% surge in its stock price.
Steelcase Inc. reported Q2 earnings and sales that beat analyst estimates, and issued Q3 and full-year 2024 earnings per share guidance that was above estimates. This positive financial performance and future outlook led to a significant increase in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100