Steelcase shares are trading higher after the company reported better-than-expected Q3 2024 adjusted EPS results and issued Q4 guidance.
Portfolio Pulse from Benzinga Newsdesk
Steelcase (SCS) shares rose following the report of Q3 2024 adjusted EPS that exceeded expectations, along with the issuance of Q4 guidance.
December 20, 2023 | 4:26 pm
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Steelcase reported higher-than-expected adjusted EPS for Q3 2024 and provided Q4 guidance, which has led to an increase in its share price.
The positive earnings report for Q3 2024 suggests that Steelcase is performing better than the market expected, which typically leads to an increase in stock price as investor sentiment improves. The issuance of Q4 guidance likely provides further confidence to the market regarding the company's future performance, contributing to the positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100