Steelcase Reports Third Quarter Fiscal 2019 Results

Tuesday, 18 December, 2018

Steelcase Inc. (NYSE: SCS) today reported third quarter revenue of $901.0 million and net income of $37.3 million, or diluted earnings of $0.31 per share which represented a 41 percent improvement compared to the prior year.

The results included an $11.2 million charge related to participation in a multi-employer pension plan, and excluding this charge, net of related variable compensation and income tax effects, adjusted earnings were $0.36 per share.  In the prior year, Steelcase reported $772.1 million of revenue and net income of $25.7 million, or diluted earnings of $0.22 per share.