Steelcase Inc. (NYSE: SCS) has reported first-quarter fiscal 2026 results that surpassed expectations, showcasing a notable 7% year-over-year revenue increase to $779 million. This performance exceeded both the forecasted $760 million and the $762 million consensus, highlighting the company's robust financial health. The gross margin also saw an improvement, reaching 33.9%, which was above the company's guidance, while the adjusted earnings per share (EPS) stood at $0.20, outperforming Noble's estimate of $0.14 and the Street consensus of $0.13.
The company's success was primarily driven by its strong performance in the Americas, with significant contributions from corporate, government, and healthcare customers. Despite this, Steelcase experienced a slight overall decline in orders, with a 1% growth internationally being offset by a 1% decrease in the Americas. Looking forward, Steelcase anticipates revenue growth in the second quarter of fiscal 2026 to be flat to 4%, with adjusted EPS expected to range between $0.36 and $0.40.
Steelcase's management is set to delve deeper into these results during its upcoming earnings call. Investors and stakeholders interested in the detailed report can access it through https://ibn.fm/CJO8f. This announcement is significant as it not only reflects Steelcase's ability to outperform financial expectations but also underscores the resilience and potential of the office furniture industry amidst fluctuating market demands.
