Steelcase Inc. (SCS) Tops Q3 EPS by 3c, Offers Guidance

Steelcase Inc. (NYSE: SCS) reported Q3 EPS of $0.29, $0.03 better than the analyst estimate of $0.26. Revenue for the quarter came in at $800 million versus the consensus estimate of $826.1 million.

"The Americas operating margin of 12.0 percent remained strong again this quarter, and we remain optimistic about our ability to continue to grow Americas revenue," said Jim Keane, president and CEO. "Order growth in the Americas of 3 percent was in line with our expectations, but the year-over-year revenue comparison was negatively impacted by customer requests for extended delivery dates, which were much higher than historical averages. In addition, the timing of the Thanksgiving holiday relative to the end of our fiscal quarter had a negative impact on the year-over-year comparisons for both orders and revenue."

Steelcase Inc. sees Q4 2014 EPS of $0.19 - $0.23, versus the consensus of $0.20. Steelcase Inc. sees Q4 2014 revenue of $760 - $785 million, versus the consensus of $771.73 million.

For earnings history and earnings-related data on Steelcase Inc. (SCS) click here.

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