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Steelcase shares are up ~5% after hours, post Q4 earnings beat

Mar. 19, 2019 5:00 PM ETSteelcase Inc. (SCS) StockBy: Vandana Singh, SA News Editor5 Comments
  • Steelcase (NYSE:SCS) is +4.7% (post market), as the company reports Q4 sales increased 18% Y/Y, and 15% on organic basis, reflecting growth across all segments driven by strong project business from large customers; orders grew 5%.
  • Gross margin of 31% declines 160bps, driven by higher cost of sales in the Americas; consolidated operating margin expands from 4.1% to 5.2%
  • Total liquidity aggregated to $417.4M, with total debt of $487M.
  • Dividends increased 7% to $0.145/share
  • Expects Q1 2020 revenue to be ~$830M-$855M with organic growth of 7%-10%; forecasts diluted EPS of ~$0.16-$0.20.
  • Outlook for 2020: Sees EPS of $1.20-1.35; expects revenue growth of +5.5-9.5%.
  • Previously: Steelcase beats by $0.03, beats on revenue (March 19)
  • Previously: Steelcase declares $0.145 dividend (March 19)

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