HawkInsight

  • Contact Us
  • App
  • English

Steelcase stock drops as FY25 profit forecast lags estimates

piranka/E+ via Getty Images Steelcase shares (NYSE:SCS) fell more than 10% in premarket trade on Thursday after it missed estimates for second quarter revenue, while the profit outlook for the full-year fell short of consensus estimates amid weakness in international orders. The company sees full-year 2025 EPS in the range of $0.86 to $1.01, vs analysts' estimate of $0.98, while Q3 revenue forecast of $785 to $810 million, was below estimates of $812.08 million. Steelcase (SCS) said orders declined modestly in the second quarter compared to the prior year, including a 3% growth in the Americas and an 11% decline in the international market. \"The order growth in the Americas was primarily driven by government, education, and healthcare customers, while orders from large corporate customers declined compared to the prior year after several quarters of strong year-over-year growth,\" Steelcase (SCS) said in a statement. Steelcase further noted that the order decline internationally was driven by weakness across most major markets, with the exception of India. However, it expects order patterns from its \"largest corporate customers to return to growth in the second half of the year.\" Steelcase's (SCS) backlog was approximately $680 million at the end of the second quarter, which was approximately flat compared to the prior year and contained a higher percentage of orders expected to ship within ninety days compared to the prior year.

Disclaimer: The views in this article are from the original author and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.

NewFlashHawk Insight
More