Steelcase Q2 Results Top Estimates

(RTTNews) - Steelcase Inc. (SCS) reported second quarter net income of $30.5 million or $0.24 per share, compared to $27.6 million or $0.22 per share for the year-ago quarter.

Excluding restructuring costs, adjusted earnings for the latest quarter were $0.27 per share.

Revenue for the second quarter rose to $786.7 million from $757.6 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.23 per share on revenue of $784.47 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $810 million to $835 million, earnings of $0.20 to $0.24 per share and adjusted earnings of $0.24 to $0.28 per share. Analysts currently expect the company to earn $0.26 per share on revenue of $826.97 million for the third quarter.