Steelcase Q2 Results Top Estimates

(RTTNews) - Steelcase Inc. (SCS) reported second quarter net income of $37.2 million or $0.30 per share, com pared to $30.5 million or $0.24 per share for the year-ago quarter.

Excluding restructuring costs, adjusted earnings for the second quarter were $0.35 per share, compared to $0.27 per share in the prior year quarter.

Revenue for the second quarter rose 4% to $819.0 million from $786.7 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $796.60 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $800 to $820 million, earnings of $0.29 to $0.33 per share and adjusted earnings of $0.31 to $0.35 per share. Analysts currently expect the company to earn $0.32 per share on revenue of $811.60 million for the third quarter.