Steelcase Surpasses Q1 FY26 Expectations with Robust Margins and EPS Growth

Steelcase (NYSE: SCS) reported first-quarter fiscal 2026 results that surpassed expectations, showcasing a 7% year-over-year revenue increase to $779 million. This performance exceeded both the forecasted $760 million and the $762 million consensus. The company's gross margin improved significantly to 33.9%, outperforming guidance, while adjusted EPS reached $0.20, ahead of Noble's $0.14 estimate and the $0.13 Street consensus. The Americas segment, particularly among corporate, government, and healthcare customers, was a key driver of these gains.

Despite a slight overall dip in orders, with international growth of 1% offset by a 1% decline in the Americas, Steelcase remains optimistic. The company anticipates flat to 4% revenue growth in Q2 FY26 and adjusted EPS between $0.36 and $0.40. Further details on the results will be discussed during the earnings call scheduled for 8:30 a.m. ET. For more information, visit https://ibn.fm/CJO8f.