Steelcase Exceeds Fiscal Expectations with Strong Q1 Performance

Steelcase (NYSE: SCS) has reported a stronger-than-expected performance in its first-quarter fiscal 2026 results, with significant achievements in both revenue and earnings per share (EPS). The company's revenue rose by 7% year-over-year to $779 million, surpassing the forecasted $760 million and the $762 million consensus. Additionally, the gross margin improved to 33.9%, exceeding the provided guidance. Adjusted EPS was reported at $0.20, outperforming Noble's estimate of $0.14 and the Street consensus of $0.13.

The commendable results were largely attributed to the strong performance in the Americas, with notable contributions from corporate, government, and healthcare customers. Although there was a slight overall decrease in orders, with a 1% growth internationally counterbalanced by a 1% decline in the Americas, Steelcase maintains a positive outlook. The company projects flat to 4% revenue growth in the second quarter of fiscal 2026, with adjusted EPS expected to be between $0.36 and $0.40.

Management plans to provide further insights into these results during the upcoming earnings call. This performance not only highlights Steelcase's resilience and adaptability in a challenging market but also sets a positive tone for its fiscal year ahead, offering valuable insights for business and technology leaders monitoring trends in corporate performance and economic indicators.