Steelcase Reports First Quarter Fiscal 2019 Results

Wednesday, 20 June, 2018

– Strong order growth of 6 percent in the Americas and 7 percent in EMEA
– EMEA posts significant improvement in operating results
– Growth potential strengthened through additional partnerships and pending acquisition of Smith System
– Best overall showroom and significant new product recognitions at NeoCon
– Outlook for the second quarter projects strong organic revenue growth
GRAND RAPIDS, Mich., June 20, 2018 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE:SCS) today reported first quarter revenue of $754.0 million and net income of $17.0 million, or diluted earnings of $0.14 per share.  In the prior year, Steelcase reported $735.1 million of revenue and $0.15 of diluted earnings per share, which reflected the net impact of annuitizing three defined benefit plans that reduced earnings by approximately $0.03 per share.