Steelcase (NYSE: SCS) has reported a stronger-than-expected first-quarter fiscal 2026 performance, with revenue and earnings per share (EPS) surpassing forecasts. The company's revenue increased by 7% year-over-year to $779 million, exceeding the anticipated $760 million and the $762 million consensus. Gross margin improved to 33.9%, surpassing guidance, while adjusted EPS was $0.20, higher than Noble's estimate of $0.14 and the Street consensus of $0.13.
The company's success was largely attributed to its performance in the Americas, where corporate, government, and healthcare customers contributed significantly. Although orders saw a slight overall decline, with a 1% increase internationally offset by a 1% decrease in the Americas, Steelcase maintains a positive outlook. It projects second-quarter fiscal 2026 revenue growth to be flat to 4%, with adjusted EPS expected between $0.36 and $0.40.
Management plans to discuss these results in detail during the upcoming earnings call. For further details on the report, visit https://www.steelcase.com.
