Steelcase Surpasses Q1 FY26 Expectations with Robust Margins and EPS Growth
Steelcase (NYSE: SCS) exceeded Q1 FY26 forecasts with a 7% revenue increase to $779 million and improved gross margins, signaling strong performance in the Americas.
Steelcase (NYSE: SCS) reported first-quarter fiscal 2026 results that exceeded expectations, showcasing a 7% year-over-year revenue increase to $779 million. This performance surpassed both the $760 million forecast and the $762 million consensus. The company's gross margin improved to 33.9%, exceeding guidance, while adjusted EPS reached $0.20, outperforming Noble's $0.14 estimate and the $0.13 Street consensus. The gains were primarily driven by strong demand in the Americas, particularly among corporate, government, and healthcare customers.
Despite a slight overall dip in orders, with a 1% growth internationally offset by a 1% decline in the Americas, Steelcase remains optimistic. The company anticipates flat to 4% revenue growth in Q2 FY26 and adjusted EPS between $0.36 and $0.40. Further details on the results will be discussed during the earnings call scheduled for 8:30 a.m. ET. For more information, visit https://ibn.fm/CJO8f.