Legendary fund manager Li Lu (who Charlie Munger backed) once said, ‘The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.’ It’s only natural to consider a company’s balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We can see that Steelcase Inc. (NYSE:SCS) does use debt in its business. But is this debt a concern to shareholders?

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GRAND RAPIDS, Mich. – Office furniture giant Steelcase reported third quarter revenue of $826.9 million, a 19% gain over the same period last year.

Inflation remains a chief concern, however.

“Our gross margin improvement in the Americas this quarter reflected the benefits from the pricing actions we’ve been implementing in the face of extraordinary inflation levels,” said Dave Sylvester, senior vice president and CFO. “On a global basis, year-over-year pricing benefits have exceeded year-over-year inflation for the last two quarters; however, we estimate cumulative inflation over the past seven quarters exceeds the cumulative benefits from our pricing actions by approximately $60 million.  Moving into the fourth quarter and first half of fiscal 2024, we expect continued year-over-year gross margin benefits from our pricing actions, as we aim to recover the cumulative impact of inflation.”

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Steelcase Inc.(SCS) had a good day on the market for Tuesday February 02 as shares jumped 1.27% to close at $13.51. About 407,560 shares traded hands on 4,251 trades for the day, compared with an average daily volume of n/a shares out of a total float of 114.91 million. After opening the trading day at $13.60, shares of Steelcase Inc. stayed within a range of $13.69 to $13.26.

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