Steelcase Stock Falls After Q2 Revenue Miss: Details
Portfolio Pulse from Erica Kollmann
Steelcase Inc. (NYSE:SCS) shares fell after reporting Q2 earnings that beat expectations but missed on revenue. The company saw growth in the Americas but faced international challenges, particularly in China. Steelcase projects Q3 revenue between $785M and $810M.
September 18, 2024 | 8:56 pm
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Steelcase reported Q2 earnings that beat expectations but missed on revenue, leading to a 10.21% drop in share price. Growth in the Americas was offset by international challenges, especially in China.
Steelcase's Q2 earnings beat expectations, but the revenue miss and international challenges, particularly in China, led to a significant drop in share price. The market reacted negatively to the revenue shortfall and the outlook for Q3.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100