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Feb 24, 2023
Steelcase Q4 2023 Earnings Report
Reported fourth quarter results with revenue of $801.7 million and EPS of $0.13.
Key Takeaways
Steelcase reported a strong fourth quarter with revenue increasing by 6% to $801.7 million and net income of $15.7 million, or $0.13 per share. Adjusted earnings per share were $0.19. The Americas saw significant growth, driving overall profitability.
Revenue increased 6 percent compared to the prior year, driven by 14 percent growth in the Americas.
Operating income increased by $26.6 million compared to the prior year.
Gross margin improved by 370 basis points compared to the prior year, reflecting pricing benefits in the Americas.
Orders declined 8 percent compared to the prior year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects first quarter fiscal 2024 revenue to be in the range of $710 to $735 million and expects to report earnings (loss) per share of between ($0.02) to $0.02 for the first quarter of fiscal 2024 and adjusted earnings per share of between $0.01 to $0.05.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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