Steelcase Reports First Quarter Fiscal 2023 Results

• Strong growth in revenue and orders included broad-based strength in Americas and EMEA segments
• Significant inflation continued to impact results, driving additional pricing actions
• Acquisition of Halcon supports growth strategies with uncompromising design and master craftsmanship
• Second quarter outlook anticipates seasonal revenue improvement with increased inflationary pressures and continued supply chain challenges

GRAND RAPIDS, Mich, June 22, 2022 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $740.7 million, a net loss of $11.4 million, or $0.10 per share, and an adjusted loss per share of $0.05. In the prior year, Steelcase reported revenue of $556.6 million and a net loss of $28.1 million, or $0.24 per share, and had an adjusted loss per share of $0.22.

Revenue and order growth compared to the prior year were as follows:

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