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GRAND RAPIDS, Mich. - Steelcase Inc . (NYSE:SCS) shares soared 11.3% after the office furniture maker reported better-than-expected fourth quarter earnings and revenue, while also providing upbeat guidance for the current quarter and fiscal year.
The company posted adjusted earnings per share of $0.26, surpassing the analyst estimate of $0.21. Revenue came in at $788 million, topping the consensus forecast of $781.63 million and representing a 2% increase YoY.
Steelcase’s fourth quarter orders grew 9% YoY on an organic basis, driven by 12% growth in the Americas segment. The company cited strong demand from large corporate and government customers.
"Our 12% order growth in the Americas was broad-based, driven by most of our customer segments, with especially strong growth from our large corporate and government customers," said Sara Armbruster, president and CEO.
For the first quarter of fiscal 2026, Steelcase expects revenue between $760 million and $785 million, above analyst estimates of $745 million. The company projects adjusted EPS of $0.13 to $0.17, compared to $0.16 in the prior-year period.
Looking ahead to fiscal 2026, Steelcase is targeting mid-single digit organic revenue growth and modest improvement in adjusted operating margin versus fiscal 2025.
"Building on recent order strength and continued earnings expansion over the last two years, we’re targeting additional progress toward our mid-term financial targets in fiscal 2026," Armbruster added.
The company’s backlog stood at $694 million at quarter-end, up 11% from the previous year, indicating healthy demand going forward.
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